Albion Financial Group UT Sells 74,219 Shares of Alphabet Inc. $GOOGL

Albion Financial Group UT lowered its position in Alphabet Inc. (NASDAQ:GOOGL) by 28.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 189,994 shares of the information services provider’s stock after selling 74,219 shares during the period. Alphabet comprises approximately 2.2% of Albion Financial Group UT’s holdings, making the stock its 9th largest position. Albion Financial Group UT’s holdings in Alphabet were worth $33,483,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its holdings in Alphabet by 3.9% in the fourth quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock valued at $20,886,000 after acquiring an additional 4,110 shares during the period. Revolve Wealth Partners LLC increased its holdings in shares of Alphabet by 3.5% in the 4th quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock valued at $2,826,000 after purchasing an additional 506 shares in the last quarter. Rhumbline Advisers lifted its stake in shares of Alphabet by 0.8% in the first quarter. Rhumbline Advisers now owns 11,267,743 shares of the information services provider’s stock valued at $1,742,444,000 after purchasing an additional 86,670 shares during the period. MKT Advisors LLC boosted its holdings in Alphabet by 2.6% during the first quarter. MKT Advisors LLC now owns 7,589 shares of the information services provider’s stock worth $1,114,000 after buying an additional 195 shares in the last quarter. Finally, Sandbox Financial Partners LLC grew its position in Alphabet by 0.5% during the first quarter. Sandbox Financial Partners LLC now owns 16,160 shares of the information services provider’s stock worth $2,499,000 after buying an additional 73 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Moffett Nathanson lifted their price target on shares of Alphabet from $230.00 to $295.00 and gave the company a “buy” rating in a research report on Thursday, September 25th. Barclays boosted their target price on Alphabet from $235.00 to $250.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 3rd. Cantor Fitzgerald restated a “neutral” rating and issued a $201.00 price target on shares of Alphabet in a research report on Wednesday, September 24th. Robert W. Baird lifted their price target on Alphabet from $215.00 to $275.00 and gave the stock an “outperform” rating in a research note on Monday, September 22nd. Finally, Phillip Securities cut shares of Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research note on Monday, September 8th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $240.76.

Insider Buying and Selling

In other news, insider John Kent Walker sold 23,820 shares of the company’s stock in a transaction on Monday, August 4th. The stock was sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the completion of the sale, the insider directly owned 42,999 shares in the company, valued at $8,371,905.30. This represents a 35.65% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $184.38, for a total value of $5,992,350.00. Following the completion of the transaction, the chief executive officer owned 2,527,392 shares in the company, valued at $466,000,536.96. The trade was a 1.27% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 276,738 shares of company stock valued at $59,135,475. Insiders own 11.64% of the company’s stock.

Alphabet Trading Down 0.1%

Shares of Alphabet stock opened at $245.35 on Friday. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $256.00. The business’s fifty day moving average is $221.25 and its two-hundred day moving average is $185.96. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The firm has a market cap of $2.97 trillion, a PE ratio of 26.13, a P/E/G ratio of 1.66 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating the consensus estimate of $2.15 by $0.16. The firm had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. Analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date was Monday, September 8th. Alphabet’s payout ratio is presently 8.95%.

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.