Alphabet Inc. $GOOG Shares Sold by Everpar Advisors LLC

Key Points

• Everpar Advisors LLC reduced its stake in Alphabet Inc. by 11.5%, holding 13,296 shares worth approximately $2.36 million after selling 1,731 shares in the second quarter.
• Brokerage analysts have mixed opinions on Alphabet's stock, with four analysts rating it as a "Strong Buy" while others assign ratings ranging from "Buy" to "Sell," leading to a consensus rating of "Moderate Buy" with a price target of $227.56.
• Alphabet recently announced a quarterly dividend of $0.21 per share, reflecting an annual yield of 0.3% and a payout ratio of 8.95%.

Everpar Advisors LLC reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 11.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,296 shares of the information services provider's stock after selling 1,731 shares during the quarter. Alphabet accounts for approximately 1.1% of Everpar Advisors LLC's portfolio, making the stock its 17th largest holding. Everpar Advisors LLC's holdings in Alphabet were worth $2,359,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. ARQ Wealth Advisors LLC grew its holdings in Alphabet by 39.3% in the fourth quarter. ARQ Wealth Advisors LLC now owns 4,964 shares of the information services provider's stock valued at $945,000 after purchasing an additional 1,400 shares during the last quarter. Independence Bank of Kentucky boosted its position in shares of Alphabet by 10.2% in the 1st quarter. Independence Bank of Kentucky now owns 14,907 shares of the information services provider's stock worth $2,329,000 after buying an additional 1,376 shares in the last quarter. RDA Financial Network grew its stake in Alphabet by 5.3% in the 2nd quarter. RDA Financial Network now owns 11,094 shares of the information services provider's stock valued at $1,968,000 after acquiring an additional 554 shares during the last quarter. Fermata Advisors LLC grew its stake in Alphabet by 2.7% in the 1st quarter. Fermata Advisors LLC now owns 9,771 shares of the information services provider's stock valued at $1,527,000 after acquiring an additional 259 shares during the last quarter. Finally, jvl associates llc increased its holdings in Alphabet by 3.5% during the 1st quarter. jvl associates llc now owns 10,055 shares of the information services provider's stock valued at $1,571,000 after acquiring an additional 343 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have issued reports on GOOG. Roth Capital reaffirmed a "buy" rating on shares of Alphabet in a report on Wednesday, July 9th. UBS Group upped their target price on Alphabet from $186.00 to $192.00 and gave the company a "neutral" rating in a research note on Wednesday, July 16th. Pivotal Research raised their price target on Alphabet from $245.00 to $300.00 and gave the stock a "buy" rating in a research report on Wednesday, September 3rd. Phillip Securities cut Alphabet from a "strong-buy" rating to a "moderate buy" rating in a report on Monday, September 8th. Finally, Raymond James Financial restated an "outperform" rating and issued a $210.00 price objective (up from $185.00) on shares of Alphabet in a research report on Thursday, July 24th. Four research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, five have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, Alphabet presently has a consensus rating of "Moderate Buy" and a consensus price target of $227.56.

Alphabet Trading Up 4.3%

Shares of Alphabet stock opened at $251.76 on Tuesday. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $252.75. The business's fifty day moving average is $204.16 and its two-hundred day moving average is $179.48. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The firm has a market cap of $3.04 trillion, a PE ratio of 26.81, a P/E/G ratio of 1.62 and a beta of 1.01.

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

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date was Monday, September 8th. Alphabet's payout ratio is presently 8.95%.

Insider Activity at Alphabet

In other news, insider John Kent Walker sold 23,820 shares of the company's stock in a transaction on Monday, August 4th. The stock was sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the completion of the sale, the insider directly owned 42,999 shares in the company, valued at $8,371,905.30. This represents a 35.65% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $229.73, for a total value of $7,466,225.00. Following the completion of the transaction, the chief executive officer directly owned 2,429,892 shares in the company, valued at $558,219,089.16. This trade represents a 1.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 254,710 shares of company stock valued at $49,208,380 in the last ninety days. 12.99% of the stock is owned by company insiders.

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.

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