Alphabet Inc. $GOOG Shares Sold by Heritage Financial Services LLC

Heritage Financial Services LLC lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 18.4% during the second quarter, HoldingsChannel reports. The firm owned 4,697 shares of the information services provider’s stock after selling 1,057 shares during the period. Heritage Financial Services LLC’s holdings in Alphabet were worth $833,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Principia Wealth Advisory LLC lifted its stake in shares of Alphabet by 111.8% in the first quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider’s stock worth $26,000 after acquiring an additional 85 shares in the last quarter. MorganRosel Wealth Management LLC acquired a new position in shares of Alphabet in the first quarter worth about $26,000. Robbins Farley lifted its stake in shares of Alphabet by 60.0% in the second quarter. Robbins Farley now owns 160 shares of the information services provider’s stock worth $28,000 after acquiring an additional 60 shares in the last quarter. Goodman Advisory Group LLC acquired a new position in shares of Alphabet in the first quarter worth about $32,000. Finally, Greykasell Wealth Strategies Inc. acquired a new position in shares of Alphabet in the first quarter worth about $32,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insider Buying and Selling at Alphabet

In other news, Director Frances Arnold sold 103 shares of the stock in a transaction that occurred on Tuesday, September 30th. The stock was sold at an average price of $243.13, for a total transaction of $25,042.39. Following the sale, the director directly owned 17,284 shares in the company, valued at approximately $4,202,258.92. This represents a 0.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $243.41, for a total value of $7,910,825.00. Following the completion of the transaction, the chief executive officer directly owned 2,402,119 shares of the company’s stock, valued at $584,699,785.79. This trade represents a 1.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 276,738 shares of company stock worth $59,135,475. Corporate insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on GOOG shares. Mizuho upgraded Alphabet to a “strong-buy” rating in a research note on Monday, September 29th. Citizens Jmp upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Thursday, June 26th. Barclays reiterated a “buy” rating on shares of Alphabet in a research note on Wednesday, July 9th. UBS Group upped their price objective on Alphabet from $186.00 to $192.00 and gave the company a “neutral” rating in a research note on Wednesday, July 16th. Finally, Oppenheimer restated an “outperform” rating and set a $270.00 price objective (up previously from $235.00) on shares of Alphabet in a research note on Wednesday, September 3rd. Five research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, five have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and an average target price of $235.33.

Alphabet Stock Up 0.0%

Shares of Alphabet stock opened at $246.45 on Friday. 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 business’s 50 day simple moving average is $221.89 and its 200-day simple moving average is $187.01. The stock has a market capitalization of $2.98 trillion, a price-to-earnings ratio of 26.25, a PEG ratio of 1.66 and a beta of 1.00. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $256.70.

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

Alphabet Announces Dividend

The business 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 dividend payout ratio is presently 8.95%.

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.