Alphabet Inc. $GOOG Shares Sold by Front Row Advisors LLC

Front Row Advisors LLC cut its stake in Alphabet Inc. (NASDAQ:GOOG) by 16.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,866 shares of the information services provider’s stock after selling 2,670 shares during the period. Front Row Advisors LLC’s holdings in Alphabet were worth $2,460,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. RDA Financial Network grew its position in Alphabet by 5.3% in the 2nd quarter. RDA Financial Network now owns 11,094 shares of the information services provider’s stock worth $1,968,000 after purchasing an additional 554 shares during the last quarter. Bleakley Financial Group LLC lifted its stake in shares of Alphabet by 1.4% in the second quarter. Bleakley Financial Group LLC now owns 170,020 shares of the information services provider’s stock valued at $30,160,000 after buying an additional 2,304 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Alphabet by 3.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,164,341 shares of the information services provider’s stock valued at $206,542,000 after buying an additional 42,028 shares during the period. Oldfather Financial Services LLC bought a new position in Alphabet during the second quarter valued at about $213,000. Finally, Tower View Wealth Management LLC increased its stake in Alphabet by 6.9% during the second quarter. Tower View Wealth Management LLC now owns 27,644 shares of the information services provider’s stock valued at $4,904,000 after acquiring an additional 1,776 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insiders Place Their Bets

In other Alphabet news, Director John L. Hennessy sold 600 shares of Alphabet stock in a transaction on Thursday, November 13th. The stock was sold at an average price of $280.06, for a total value of $168,036.00. Following the completion of the transaction, the director owned 4,516 shares in the company, valued at approximately $1,264,750.96. The trade was a 11.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $319.50, for a total value of $10,383,750.00. Following the sale, the chief executive officer owned 2,272,119 shares in the company, valued at $725,942,020.50. The trade was a 1.41% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 228,906 shares of company stock valued at $62,127,158 in the last 90 days. Insiders own 12.99% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Canaccord Genuity Group reissued a “buy” rating and set a $330.00 price objective on shares of Alphabet in a report on Thursday, October 30th. Jefferies Financial Group raised their target price on Alphabet from $285.00 to $320.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Truist Financial set a $350.00 price target on shares of Alphabet in a report on Friday, December 5th. Robert W. Baird increased their price objective on shares of Alphabet from $215.00 to $275.00 and gave the company an “outperform” rating in a research note on Monday, September 22nd. Finally, Barclays lifted their target price on shares of Alphabet from $250.00 to $315.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. Seven analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Alphabet has an average rating of “Buy” and a consensus price target of $313.04.

Alphabet Stock Down 1.0%

Shares of NASDAQ:GOOG opened at $310.52 on Friday. The company’s fifty day moving average is $283.75 and its 200-day moving average is $230.33. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.75 and a current ratio of 1.75. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $328.67. The company has a market capitalization of $3.75 trillion, a PE ratio of 30.62, a P/E/G ratio of 1.80 and a beta of 1.07.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Thursday, October 30th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.29 by $0.58. The firm had revenue of $102.35 billion during 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 35.00%. The firm’s quarterly revenue was up 15.9% on a year-over-year basis. During the same period last year, the firm posted $2.12 EPS. 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 announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 8th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Monday, December 8th. Alphabet’s payout ratio is presently 8.28%.

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.