Alphabet Inc. $GOOGL Position Lessened by Laraway Financial Advisors Inc

Laraway Financial Advisors Inc decreased its stake in Alphabet Inc. (NASDAQ:GOOGL) by 0.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,745 shares of the information services provider’s stock after selling 75 shares during the period. Alphabet accounts for 2.1% of Laraway Financial Advisors Inc’s portfolio, making the stock its 12th largest position. Laraway Financial Advisors Inc’s holdings in Alphabet were worth $2,775,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Missouri Trust & Investment Co boosted its position in Alphabet by 0.3% during the second quarter. Missouri Trust & Investment Co now owns 16,916 shares of the information services provider’s stock valued at $2,981,000 after purchasing an additional 55 shares during the last quarter. AM Investment Strategies LLC boosted its position in Alphabet by 0.9% during the second quarter. AM Investment Strategies LLC now owns 6,477 shares of the information services provider’s stock valued at $1,141,000 after purchasing an additional 57 shares during the last quarter. Bfsg LLC boosted its position in Alphabet by 0.6% during the second quarter. Bfsg LLC now owns 10,428 shares of the information services provider’s stock valued at $1,838,000 after purchasing an additional 59 shares during the last quarter. Financial Council LLC boosted its position in Alphabet by 1.0% during the second quarter. Financial Council LLC now owns 5,800 shares of the information services provider’s stock valued at $1,022,000 after purchasing an additional 60 shares during the last quarter. Finally, Enzi Wealth boosted its position in Alphabet by 2.5% during the first quarter. Enzi Wealth now owns 2,561 shares of the information services provider’s stock valued at $408,000 after purchasing an additional 62 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Alphabet Price Performance

NASDAQ GOOGL opened at $251.03 on Thursday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The stock’s 50-day moving average is $229.41 and its two-hundred day moving average is $190.28. The firm has a market cap of $3.04 trillion, a P/E ratio of 26.73, a price-to-earnings-growth ratio of 1.66 and a beta of 1.00. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $256.00.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $2.15 by $0.16. The business had revenue of $96.43 billion for 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%. On average, analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

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

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Bank of America lifted their price objective on Alphabet from $210.00 to $217.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. Mizuho set a $295.00 price objective on Alphabet and gave the company an “outperform” rating in a research report on Monday, September 29th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Alphabet in a research report on Wednesday, September 3rd. Sanford C. Bernstein lifted their price objective on Alphabet from $185.00 to $195.00 and gave the company a “market perform” rating in a research report on Tuesday, July 22nd. Finally, Morgan Stanley set a $270.00 price objective on Alphabet and gave the company an “overweight” rating in a research report on Thursday, October 2nd. Four analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and ten have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $249.26.

Insiders Place Their Bets

In other news, Director Kavitark Ram Shriram sold 18,566 shares of Alphabet stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $3,448,820.16. Following the transaction, the director directly owned 243,400 shares in the company, valued at approximately $45,213,984. The trade was a 7.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider John Kent Walker sold 23,820 shares of Alphabet stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $194.70, for a total value of $4,637,754.00. Following the completion of the transaction, the insider owned 42,999 shares in the company, valued at $8,371,905.30. The trade was a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 244,438 shares of company stock valued at $53,216,085. Company insiders own 11.64% of the company’s stock.

About Alphabet

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.