Alphabet Inc. $GOOG Shares Sold by Fiduciary Alliance LLC

Key Points

• Fiduciary Alliance LLC reduced its stake in Alphabet Inc. by 4.8% in Q2, selling 1,577 shares and ending up with 31,254 shares valued at $5,544,000.
• Alphabet's quarterly earnings report revealed an EPS of $2.31, exceeding estimates and reflecting a 13.8% increase in revenue year-over-year.
• The company also announced a quarterly dividend of $0.21 per share, which provides an annualized yield of 0.3%.

Fiduciary Alliance LLC cut its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 4.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 31,254 shares of the information services provider's stock after selling 1,577 shares during the quarter. Fiduciary Alliance LLC's holdings in Alphabet were worth $5,544,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in GOOG. JDM Financial Group LLC boosted its holdings in Alphabet by 10.6% in the fourth quarter. JDM Financial Group LLC now owns 593 shares of the information services provider's stock valued at $113,000 after purchasing an additional 57 shares in the last quarter. NCM Capital Management LLC boosted its holdings in Alphabet by 2.2% in the first quarter. NCM Capital Management LLC now owns 2,802 shares of the information services provider's stock valued at $438,000 after purchasing an additional 60 shares in the last quarter. Legacy Private Trust Co. lifted its stake in Alphabet by 0.6% in the second quarter. Legacy Private Trust Co. now owns 9,956 shares of the information services provider's stock valued at $1,766,000 after buying an additional 60 shares during the last quarter. Faithward Advisors LLC lifted its stake in Alphabet by 2.5% in the first quarter. Faithward Advisors LLC now owns 2,505 shares of the information services provider's stock valued at $391,000 after buying an additional 61 shares during the last quarter. Finally, Objectivity Squared LLC lifted its stake in Alphabet by 0.4% in the first quarter. Objectivity Squared LLC now owns 16,342 shares of the information services provider's stock valued at $2,605,000 after buying an additional 62 shares during the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GOOG has been the subject of a number of research reports. The Goldman Sachs Group reiterated a "buy" rating and issued a $220.00 price objective on shares of Alphabet in a research note on Monday, June 2nd. Citizens Jmp upgraded Alphabet from a "hold" rating to a "strong-buy" rating in a research note on Thursday, June 26th. UBS Group boosted 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. Cowen reiterated a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. Finally, Scotiabank boosted their price objective on Alphabet from $200.00 to $240.00 and gave the company a "sector outperform" rating in a research note on Tuesday, July 22nd. Four analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $227.56.

Alphabet Stock Performance

NASDAQ GOOG opened at $251.42 on Wednesday. The business's 50-day moving average price is $205.68 and its 200 day moving average price is $179.98. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $253.23. The company has a market capitalization of $3.04 trillion, a PE ratio of 26.78, a price-to-earnings-growth ratio of 1.69 and a beta of 1.01. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOG - Get Free Report) last released 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 company 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 company's quarterly revenue was up 13.8% compared to the same quarter last year. During the same period last year, the business posted $1.89 EPS. On average, research analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Dividend Announcement

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 dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Monday, September 8th. Alphabet's dividend payout ratio (DPR) is presently 8.95%.

Insider Buying and Selling at Alphabet

In related news, Director John L. Hennessy sold 600 shares of the firm's stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $249.44, for a total transaction of $149,664.00. Following the sale, the director directly owned 5,716 shares in the company, valued at approximately $1,425,799.04. This trade represents a 9.50% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider John Kent Walker sold 23,820 shares of Alphabet stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $194.70, for a total value of $4,637,754.00. Following the sale, the insider owned 42,999 shares in the company, valued at $8,371,905.30. This represents a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 225,588 shares of company stock worth $44,296,554. Insiders own 12.99% of the company's stock.

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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