Alphabet Inc. $GOOG Shares Sold by Anderson Financial Strategies LLC

Anderson Financial Strategies LLC cut its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 60.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,300 shares of the information services provider’s stock after selling 2,000 shares during the period. Anderson Financial Strategies LLC’s holdings in Alphabet were worth $231,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. IFS Advisors LLC lifted its stake in shares of Alphabet by 400.0% in the 2nd quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock valued at $27,000 after purchasing an additional 120 shares during the last quarter. Robbins Farley lifted its position in Alphabet by 60.0% in the second quarter. Robbins Farley now owns 160 shares of the information services provider’s stock valued at $28,000 after buying an additional 60 shares during the last quarter. WestEnd Advisors LLC boosted its stake in Alphabet by 58.7% during the second quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock worth $29,000 after buying an additional 61 shares during the period. Fairman Group LLC boosted its stake in Alphabet by 121.3% during the second quarter. Fairman Group LLC now owns 177 shares of the information services provider’s stock worth $31,000 after buying an additional 97 shares during the period. Finally, Greykasell Wealth Strategies Inc. acquired a new stake in shares of Alphabet during the first quarter valued at about $32,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Wolfe Research upped their price objective on shares of Alphabet from $290.00 to $350.00 and gave the stock an “outperform” rating in a report on Thursday, October 30th. Hsbc Global Res upgraded Alphabet to a “strong-buy” rating in a research note on Tuesday, October 7th. Scotiabank set a $336.00 price objective on Alphabet and gave the company a “sector outperform” rating in a research note on Thursday, October 30th. Mizuho set a $325.00 price objective on Alphabet in a report on Thursday, October 30th. Finally, BMO Capital Markets restated an “outperform” rating and set a $340.00 target price on shares of Alphabet in a report on Thursday, October 30th. Six research analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, four have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $324.81.

Alphabet Stock Up 3.1%

Shares of NASDAQ:GOOG opened at $285.60 on Tuesday. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $294.52. The firm’s 50 day moving average price is $258.86 and its 200 day moving average price is $211.03. 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 stock has a market cap of $3.45 trillion, a price-to-earnings ratio of 28.17, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Thursday, October 30th. The information services provider reported $2.87 EPS for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. The company had revenue of $102.35 billion for the quarter, compared to the consensus estimate of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The company’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.12 EPS. As a group, equities research analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 8th will be paid a $0.21 dividend. The ex-dividend date is Monday, December 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is currently 8.28%.

Insiders Place Their Bets

In related news, CAO Amie Thuener O’toole sold 954 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $282.33, for a total transaction of $269,342.82. Following the completion of the sale, the chief accounting officer owned 14,517 shares in the company, valued at $4,098,584.61. The trade was a 6.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $283.48, for a total transaction of $9,213,100.00. Following the completion of the transaction, the chief executive officer owned 2,337,119 shares in the company, valued at $662,526,494.12. This represents a 1.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 222,396 shares of company stock valued at $54,151,037 over the last quarter. Corporate insiders own 12.99% 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.