Dana Investment Advisors Inc. Sells 621 Shares of Alphabet Inc. (NASDAQ:GOOG)

Dana Investment Advisors Inc. cut its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.1% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 55,278 shares of the information services provider’s stock after selling 621 shares during the period. Dana Investment Advisors Inc.’s holdings in Alphabet were worth $10,139,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in the company. JPMorgan Chase & Co. increased its position in Alphabet by 19.7% during the 1st quarter. JPMorgan Chase & Co. now owns 84,171,721 shares of the information services provider’s stock valued at $12,815,986,000 after purchasing an additional 13,876,534 shares during the period. Swedbank AB bought a new position in Alphabet in the first quarter worth approximately $1,378,708,000. Capital International Investors boosted its position in Alphabet by 9.3% during the 1st quarter. Capital International Investors now owns 87,716,562 shares of the information services provider’s stock valued at $13,355,724,000 after acquiring an additional 7,470,042 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Alphabet by 51.8% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 6,416,150 shares of the information services provider’s stock valued at $976,923,000 after acquiring an additional 2,190,795 shares during the period. Finally, Vima LLC raised its position in shares of Alphabet by 178,253.1% in the 1st quarter. Vima LLC now owns 2,001,122 shares of the information services provider’s stock worth $304,691,000 after acquiring an additional 2,000,000 shares in the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Alphabet news, insider John Kent Walker sold 16,802 shares of the stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $165.47, for a total value of $2,780,226.94. Following the sale, the insider now directly owns 43,999 shares of the company’s stock, valued at approximately $7,280,514.53. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, SVP Prabhakar Raghavan sold 34,257 shares of Alphabet stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the sale, the senior vice president now directly owns 312,210 shares in the company, valued at approximately $50,765,346. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John Kent Walker sold 16,802 shares of Alphabet stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $165.47, for a total value of $2,780,226.94. Following the sale, the insider now owns 43,999 shares in the company, valued at approximately $7,280,514.53. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 216,225 shares of company stock worth $36,134,681. Company insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Rosenblatt Securities lowered Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price on the stock. in a research note on Friday, June 28th. Wolfe Research raised shares of Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. DA Davidson raised shares of Alphabet to a “hold” rating in a report on Tuesday, September 10th. Oppenheimer decreased their price objective on Alphabet from $210.00 to $185.00 and set an “outperform” rating for the company in a report on Wednesday, September 25th. Finally, Pivotal Research assumed coverage on Alphabet in a research note on Tuesday. They issued a “buy” rating and a $215.00 price target for the company. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $183.75.

Alphabet Trading Up 1.1 %

Shares of GOOG stock opened at $167.19 on Tuesday. Alphabet Inc. has a 1-year low of $121.46 and a 1-year high of $193.31. The firm has a market cap of $2.07 trillion, a PE ratio of 25.64, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04. The company has a 50-day moving average of $164.02 and a two-hundred day moving average of $168.32. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.04. The firm had revenue of $84.74 billion for the quarter, compared to the consensus estimate of $84.22 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The company’s quarterly revenue was up 13.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.44 EPS. On average, analysts predict that Alphabet Inc. will post 7.63 EPS for the current year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date was Monday, September 9th. Alphabet’s dividend payout ratio is presently 12.27%.

Alphabet Profile

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.