Citrine Capital LLC Sells 140 Shares of Alphabet Inc. $GOOG

Citrine Capital LLC decreased its holdings in Alphabet Inc. (NASDAQ:GOOG) by 4.4% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,043 shares of the information services provider’s stock after selling 140 shares during the quarter. Alphabet accounts for approximately 0.3% of Citrine Capital LLC’s investment portfolio, making the stock its 26th biggest holding. Citrine Capital LLC’s holdings in Alphabet were worth $540,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Principia Wealth Advisory LLC lifted its position in shares of Alphabet by 111.8% during the 1st quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider’s stock worth $26,000 after buying an additional 85 shares in the last quarter. MorganRosel Wealth Management LLC bought a new position in shares of Alphabet during the 1st quarter worth approximately $26,000. Robbins Farley lifted its position in shares of Alphabet by 60.0% during the 2nd quarter. Robbins Farley now owns 160 shares of the information services provider’s stock worth $28,000 after buying an additional 60 shares in the last quarter. Goodman Advisory Group LLC bought a new position in shares of Alphabet during the 1st quarter worth approximately $32,000. Finally, Greykasell Wealth Strategies Inc. bought a new position in shares of Alphabet during the 1st quarter worth approximately $32,000. Institutional investors own 27.26% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on GOOG. Raymond James Financial restated an “outperform” rating and set a $210.00 price target (up previously from $185.00) on shares of Alphabet in a research note on Thursday, July 24th. KeyCorp set a $265.00 price target on shares of Alphabet in a research note on Wednesday, September 3rd. UBS Group raised their price target on shares of Alphabet from $186.00 to $192.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 16th. Pivotal Research raised their price target on shares of Alphabet from $245.00 to $300.00 and gave the stock a “buy” rating in a research note on Wednesday, September 3rd. Finally, BNP Paribas lowered shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, June 26th. Five research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $235.33.

Alphabet Stock Up 0.4%

Alphabet stock opened at $246.43 on Friday. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $256.70. The firm has a market capitalization of $2.98 trillion, a price-to-earnings ratio of 26.24, a P/E/G ratio of 1.66 and a beta of 1.00. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The firm has a 50 day simple moving average of $220.84 and a 200 day simple moving average of $186.43.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $2.12 by $0.19. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The business had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.67 billion. During the same period in the previous year, the business earned $1.89 EPS. Alphabet’s revenue was up 13.8% compared to the same quarter last year. On average, analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Announces Dividend

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

Insider Activity

In other news, insider John Kent Walker sold 23,820 shares of the business’s stock in a transaction on Monday, August 4th. The shares were sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the completion of the transaction, the insider directly owned 42,999 shares in the company, valued at $8,371,905.30. The trade was a 35.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kavitark Ram Shriram sold 18,566 shares of the business’s stock in a transaction on Friday, July 18th. The shares were sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the transaction, the director owned 243,400 shares of the company’s stock, valued at $45,213,984. This trade represents a 7.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 276,738 shares of company stock worth $59,135,475 in the last three months. 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.