Coppell Advisory Solutions LLC Sells 10,569 Shares of Alphabet Inc. $GOOG

Coppell Advisory Solutions LLC trimmed its holdings in Alphabet Inc. (NASDAQ:GOOG) by 54.7% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,770 shares of the information services provider’s stock after selling 10,569 shares during the quarter. Coppell Advisory Solutions LLC’s holdings in Alphabet were worth $1,563,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Newbridge Financial Services Group Inc. lifted its holdings in Alphabet by 4.5% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 41,068 shares of the information services provider’s stock worth $7,285,000 after buying an additional 1,773 shares in the last quarter. Anchor Investment Management LLC raised its position in shares of Alphabet by 23.8% during the second quarter. Anchor Investment Management LLC now owns 112,603 shares of the information services provider’s stock worth $19,975,000 after acquiring an additional 21,667 shares during the last quarter. Hohimer Wealth Management LLC lifted its stake in shares of Alphabet by 3.1% during the second quarter. Hohimer Wealth Management LLC now owns 4,487 shares of the information services provider’s stock valued at $796,000 after acquiring an additional 137 shares during the period. Old North State Trust LLC boosted its holdings in Alphabet by 13.6% in the second quarter. Old North State Trust LLC now owns 4,590 shares of the information services provider’s stock valued at $814,000 after acquiring an additional 550 shares during the last quarter. Finally, Tyler Stone Wealth Management increased its position in Alphabet by 16.2% in the second quarter. Tyler Stone Wealth Management now owns 67,838 shares of the information services provider’s stock worth $12,034,000 after purchasing an additional 9,477 shares during the period. Institutional investors own 27.26% of the company’s stock.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction dated Wednesday, November 5th. The stock was 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 directly owned 2,337,119 shares in the company, valued at approximately $662,526,494.12. This trade represents a 1.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John Kent Walker sold 17,816 shares of the firm’s stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the transaction, the insider directly owned 42,985 shares of the company’s stock, valued at $10,635,348.70. This represents a 29.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 225,528 shares of company stock valued at $61,296,884. Company insiders own 12.99% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Citigroup restated a “market outperform” rating on shares of Alphabet in a research report on Monday, November 24th. Hsbc Global Res raised shares of Alphabet to a “strong-buy” rating in a report on Tuesday, October 7th. Scotiabank set a $336.00 price target on Alphabet and gave the company a “sector outperform” rating in a research note on Thursday, October 30th. Sanford C. Bernstein upped their price objective on Alphabet from $260.00 to $305.00 and gave the company an “outperform” rating in a report on Thursday, October 30th. Finally, Cowen restated a “buy” rating on shares of Alphabet in a report on Friday. Seven equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $313.04.

Alphabet Trading Down 1.0%

NASDAQ GOOG opened at $310.52 on Monday. Alphabet Inc. has a one year low of $142.66 and a one year high of $328.67. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.75 and a quick ratio of 1.75. The firm has a market cap of $3.75 trillion, a P/E ratio of 30.62, a P/E/G ratio of 1.80 and a beta of 1.07. The stock’s 50-day moving average is $283.75 and its 200-day moving average is $230.73.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data 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 business had revenue of $102.35 billion during the quarter, compared to analyst estimates of $99.90 billion. Alphabet had a return on equity of 35.00% and a net margin of 32.23%.Alphabet’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.12 EPS. Sell-side analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Monday, December 8th. Alphabet’s payout ratio is currently 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.