Seeds Investor LLC Sells 570 Shares of Alphabet Inc. $GOOG

Seeds Investor LLC reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 12.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,933 shares of the information services provider’s stock after selling 570 shares during the quarter. Seeds Investor LLC’s holdings in Alphabet were worth $698,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. RDA Financial Network raised its stake in Alphabet by 5.3% during the second quarter. RDA Financial Network now owns 11,094 shares of the information services provider’s stock valued at $1,968,000 after purchasing an additional 554 shares in the last quarter. Bleakley Financial Group LLC increased its holdings in shares of Alphabet by 1.4% in the 2nd quarter. Bleakley Financial Group LLC now owns 170,020 shares of the information services provider’s stock worth $30,160,000 after buying an additional 2,304 shares during the last quarter. Oldfather Financial Services LLC bought a new stake in shares of Alphabet in the 2nd quarter worth about $213,000. Tower View Wealth Management LLC raised its position in shares of Alphabet by 6.9% during the 2nd quarter. Tower View Wealth Management LLC now owns 27,644 shares of the information services provider’s stock valued at $4,904,000 after buying an additional 1,776 shares in the last quarter. Finally, Dock Street Asset Management Inc. lifted its holdings in shares of Alphabet by 0.8% in the 2nd quarter. Dock Street Asset Management Inc. now owns 234,306 shares of the information services provider’s stock valued at $41,563,000 after acquiring an additional 1,970 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Insider Buying and Selling

In other news, CAO Amie Thuener O’toole sold 2,778 shares of the firm’s stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $250.05, for a total transaction of $694,638.90. Following the transaction, the chief accounting officer directly owned 14,516 shares of the company’s stock, valued at approximately $3,629,725.80. This trade represents a 16.06% 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, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $250.15, for a total transaction of $8,129,875.00. Following the sale, the chief executive officer directly owned 2,369,619 shares of the company’s stock, valued at $592,760,192.85. This represents a 1.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 195,452 shares of company stock valued at $49,255,209 in the last 90 days. Company insiders own 12.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on GOOG shares. Phillip Securities raised Alphabet from a “moderate buy” rating to a “strong-buy” rating in a research note on Friday, November 7th. Raymond James Financial set a $275.00 target price on Alphabet and gave the stock an “outperform” rating in a report on Friday, October 24th. Piper Sandler increased their price target on Alphabet from $285.00 to $330.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. Weiss Ratings restated a “buy (b)” rating on shares of Alphabet in a research report on Wednesday, October 8th. Finally, Wolfe Research boosted their price objective on shares of Alphabet from $290.00 to $350.00 and gave the company an “outperform” rating in a research report on Thursday, October 30th. Seven investment analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $324.81.

Alphabet Price Performance

Shares of GOOG stock opened at $289.98 on Friday. The stock has a 50 day moving average price of $261.82 and a 200 day moving average price of $212.97. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $306.89. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The firm has a market capitalization of $3.50 trillion, a P/E ratio of 28.60, a P/E/G ratio of 1.86 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data 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. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The company had revenue of $102.35 billion for the quarter, compared to the consensus estimate of $99.90 billion. During the same quarter in the prior year, the company posted $2.12 EPS. Alphabet’s quarterly revenue was up 15.9% on a year-over-year basis. As a group, sell-side analysts predict 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 will be paid on Monday, December 15th. Stockholders of record on Monday, December 8th will be issued a $0.21 dividend. The ex-dividend date is Monday, December 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. Alphabet’s dividend payout ratio is presently 8.28%.

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.