Keyvantage Wealth LLC Sells 860 Shares of Alphabet Inc. $GOOG

Keyvantage Wealth LLC decreased its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 28.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,209 shares of the information services provider’s stock after selling 860 shares during the period. Keyvantage Wealth LLC’s holdings in Alphabet were worth $392,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Alphabet by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider’s stock worth $64,299,725,000 after purchasing an additional 9,687,855 shares during the period. Kingstone Capital Partners Texas LLC grew its holdings in Alphabet by 580,897.4% during the second quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider’s stock valued at $23,963,208,000 after purchasing an additional 135,064,454 shares during the period. Geode Capital Management LLC increased its position in Alphabet by 0.4% in the second quarter. Geode Capital Management LLC now owns 107,760,033 shares of the information services provider’s stock worth $19,022,926,000 after buying an additional 441,177 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Alphabet by 9.9% in the first quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider’s stock valued at $15,971,861,000 after buying an additional 9,243,959 shares during the period. Finally, Deutsche Bank AG lifted its position in shares of Alphabet by 5.4% during the 1st quarter. Deutsche Bank AG now owns 21,345,784 shares of the information services provider’s stock valued at $3,334,852,000 after buying an additional 1,098,996 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Alphabet Stock Performance

Alphabet stock opened at $276.98 on Friday. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $292.36. 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 market capitalization of $3.34 trillion, a PE ratio of 27.32, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05. The firm’s 50 day simple moving average is $257.84 and its 200 day simple moving average is $209.82.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Thursday, October 30th. The information services provider reported $2.87 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 36.08%. The business’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same period last year, the firm earned $2.12 EPS. As a group, analysts expect 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. Investors of record on Monday, December 8th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.3%. The ex-dividend date is Monday, December 8th. Alphabet’s payout ratio is presently 8.28%.

Insiders Place Their Bets

In other news, CAO Amie Thuener O’toole sold 2,778 shares of the business’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $245.00, for a total transaction of $680,610.00. Following the completion of the transaction, the chief accounting officer owned 17,293 shares of the company’s stock, valued at approximately $4,236,785. The trade was a 13.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John Kent Walker sold 17,816 shares of the firm’s stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the completion of the sale, the insider directly owned 42,985 shares in the company, 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. Insiders have sold 221,796 shares of company stock worth $53,983,001 in the last ninety days. 12.99% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. BMO Capital Markets restated an “outperform” rating and issued a $340.00 price objective on shares of Alphabet in a research note on Thursday, October 30th. Barclays boosted their price target 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. KeyCorp reaffirmed an “overweight” rating and issued a $330.00 price objective on shares of Alphabet in a report on Thursday, October 30th. Cantor Fitzgerald set a $310.00 price objective on shares of Alphabet and gave the company a “neutral” rating in a research note on Thursday, October 30th. Finally, TD Cowen increased their target price on Alphabet from $270.00 to $280.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Six investment analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $324.81.

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.