Alphabet Inc. $GOOG Shares Sold by BSW Wealth Partners

Key Points

• BSW Wealth Partners reduced its stake in Alphabet Inc. by 4.3% in the second quarter, holding 28,457 shares worth approximately $5.05 million.
• Insiders sold a total of 276,738 shares of Alphabet stock valued at nearly $59.14 million in the last quarter, representing a decrease in their ownership.
• Alphabet's most recent quarterly earnings reflected a 13.8% year-over-year revenue increase, contributing to an earnings per share (EPS) surpassing analyst estimates.

BSW Wealth Partners lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 4.3% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 28,457 shares of the information services provider's stock after selling 1,270 shares during the period. Alphabet comprises about 0.7% of BSW Wealth Partners' portfolio, making the stock its 28th largest holding. BSW Wealth Partners' holdings in Alphabet were worth $5,048,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. Robbins Farley increased its holdings in Alphabet by 60.0% in the second quarter. Robbins Farley now owns 160 shares of the information services provider's stock valued at $28,000 after buying an additional 60 shares in the last quarter. Principia Wealth Advisory LLC increased its stake in shares of Alphabet by 111.8% in the 1st quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock valued at $26,000 after purchasing an additional 85 shares in the last quarter. MorganRosel Wealth Management LLC acquired a new position in Alphabet in the 1st quarter worth about $26,000. Greykasell Wealth Strategies Inc. purchased a new position in Alphabet during the first quarter worth approximately $32,000. Finally, Goodman Advisory Group LLC acquired a new stake in Alphabet in the first quarter valued at approximately $32,000. Hedge funds and other institutional investors own 27.26% of the company's stock.

Insider Activity

In other news, Director Frances Arnold sold 103 shares of Alphabet stock in a transaction that occurred on Tuesday, September 30th. The shares were sold at an average price of $243.13, for a total transaction of $25,042.39. Following the sale, the director owned 17,284 shares of the company's stock, valued at approximately $4,202,258.92. The trade was a 0.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Amie Thuener O'toole sold 953 shares of the company's stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $241.20, for a total value of $229,863.60. Following the completion of the transaction, the chief accounting officer owned 17,294 shares in the company, valued at $4,171,312.80. This represents a 5.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 276,738 shares of company stock valued at $59,135,475 in the last quarter. Insiders own 12.99% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on GOOG shares. Scotiabank upped their target price on Alphabet from $200.00 to $240.00 and gave the stock a "sector outperform" rating in a research note on Tuesday, July 22nd. Jefferies Financial Group upped their price objective on shares of Alphabet from $230.00 to $285.00 and gave the stock a "buy" rating in a research report on Thursday. Phillip Securities downgraded shares of Alphabet from a "strong-buy" rating to a "moderate buy" rating in a report on Monday, September 8th. Citizens Jmp raised shares of Alphabet from a "hold" rating to a "strong-buy" rating in a research note on Thursday, June 26th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Alphabet in a research note on Saturday, September 27th. Five investment analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $235.33.

Alphabet Trading Up 0.0%

Shares of Alphabet stock opened at $246.45 on Friday. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $256.70. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The stock has a market cap of $2.98 trillion, a P/E ratio of 26.25, a P/E/G ratio of 1.66 and a beta of 1.00. The stock's 50 day simple moving average is $221.89 and its 200-day simple moving average is $187.01.

Alphabet (NASDAQ:GOOG - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping analysts' consensus estimates of $2.12 by $0.19. The firm had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.67 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The firm's revenue was up 13.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.89 earnings per share. Analysts predict that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were issued a $0.21 dividend. The ex-dividend date of this dividend was Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. Alphabet's dividend payout ratio is currently 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.

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