Heritage Wealth Partners LLC Decreases Stock Holdings in Alphabet Inc. $GOOG

Heritage Wealth Partners LLC trimmed its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 75.4% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,448 shares of the information services provider’s stock after selling 4,433 shares during the period. Heritage Wealth Partners LLC’s holdings in Alphabet were worth $226,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently added to or reduced their stakes in the business. JDM Financial Group LLC grew its position in Alphabet by 10.6% during the fourth quarter. JDM Financial Group LLC now owns 593 shares of the information services provider’s stock valued at $113,000 after buying an additional 57 shares during the period. Objectivity Squared LLC grew its position in Alphabet by 0.4% during the first quarter. Objectivity Squared LLC now owns 16,342 shares of the information services provider’s stock valued at $2,605,000 after buying an additional 62 shares during the period. Tranquility Partners LLC grew its position in Alphabet by 0.4% during the first quarter. Tranquility Partners LLC now owns 14,488 shares of the information services provider’s stock valued at $2,263,000 after buying an additional 63 shares during the period. Stonebridge Financial Group LLC grew its position in Alphabet by 0.6% during the first quarter. Stonebridge Financial Group LLC now owns 10,648 shares of the information services provider’s stock valued at $1,664,000 after buying an additional 64 shares during the period. Finally, True Wealth Design LLC grew its position in Alphabet by 28.5% during the fourth quarter. True Wealth Design LLC now owns 293 shares of the information services provider’s stock valued at $56,000 after buying an additional 65 shares during the period. 27.26% of the stock is currently owned by institutional investors.

Alphabet Price Performance

Alphabet stock opened at $206.72 on Friday. The company has a market cap of $2.50 trillion, a price-to-earnings ratio of 22.01, a PEG ratio of 1.35 and a beta of 1.02. The firm’s fifty day moving average is $187.71 and its 200 day moving average is $174.86. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $209.23.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.12 by $0.19. The company had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.67 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. Alphabet’s revenue was up 13.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.89 earnings per share. Sell-side analysts forecast that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.4%. Alphabet’s dividend payout ratio is presently 8.95%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on GOOG shares. Barclays reiterated a “buy” rating on shares of Alphabet in a research report on Wednesday, July 9th. BNP Paribas lowered shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, June 26th. Wells Fargo & Company restated an “equal weight” rating on shares of Alphabet in a research report on Wednesday, July 9th. Rosenblatt Securities upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 25th. Finally, Westpark Capital restated a “buy” rating and set a $210.00 target price on shares of Alphabet in a research report on Friday, April 25th. Five equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $215.19.

Insider Buying and Selling at Alphabet

In other news, insider John Kent Walker sold 23,820 shares of the stock in a transaction on Monday, August 4th. The shares were sold at an average price of $194.70, for a total value of $4,637,754.00. Following the sale, the insider owned 42,999 shares of the company’s stock, valued at approximately $8,371,905.30. This represents a 35.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John L. Hennessy sold 600 shares of the stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $203.79, for a total transaction of $122,274.00. Following the completion of the sale, the director directly owned 6,316 shares in the company, valued at approximately $1,287,137.64. This represents a 8.68% decrease in their position. The disclosure for this sale can be found here. Insiders sold 254,719 shares of company stock worth $47,223,172 in the last ninety days. Company insiders own 12.99% of the company’s stock.

Alphabet Company 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.