Alphabet Inc. $GOOG Shares Sold by Keudell Morrison Wealth Management

Key Points

• Keudell Morrison Wealth Management reduced its stake in Alphabet Inc. by 10.5%, selling 3,530 shares and holding a total of 30,030 shares worth $5.3 million.
• CEO Sundar Pichai sold 32,500 shares for approximately $7.9 million, reducing his ownership by 1.33%, while other insiders also sold significant amounts of stock recently.
• Alphabet recently declared a quarterly dividend of $0.21 per share, reflecting a 0.3% dividend yield with a payout ratio of 8.95%.

Keudell Morrison Wealth Management decreased its stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 10.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 30,030 shares of the information services provider's stock after selling 3,530 shares during the period. Alphabet makes up 1.2% of Keudell Morrison Wealth Management's investment portfolio, making the stock its 14th largest holding. Keudell Morrison Wealth Management's holdings in Alphabet were worth $5,327,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in GOOG. MorganRosel Wealth Management LLC acquired a new stake in shares of Alphabet in the first quarter valued at about $26,000. IFS Advisors LLC lifted its stake in shares of Alphabet by 400.0% in the second quarter. IFS Advisors LLC now owns 150 shares of the information services provider's stock valued at $27,000 after purchasing an additional 120 shares during the period. Robbins Farley lifted its stake in shares of 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 purchasing an additional 60 shares during the period. Goodman Advisory Group LLC acquired a new stake in shares of Alphabet in the first quarter valued at about $32,000. Finally, Greykasell Wealth Strategies Inc. acquired a new stake in shares of Alphabet in the first quarter valued at about $32,000. Institutional investors and hedge funds own 27.26% of the company's stock.

Insider Buying and Selling at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $243.41, for a total value of $7,910,825.00. Following the completion of the sale, the chief executive officer directly owned 2,402,119 shares in the company, valued at approximately $584,699,785.79. The trade was a 1.33% decrease in their ownership of the stock. The transaction 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 business'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 owned 42,985 shares of the company's stock, valued at approximately $10,635,348.70. The trade was a 29.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 276,738 shares of company stock valued at $59,135,475. Corporate insiders own 12.99% of the company's stock.

Wall Street Analysts Forecast Growth

GOOG has been the subject of several recent analyst reports. Phillip Securities cut shares of Alphabet from a "strong-buy" rating to a "moderate buy" rating in a research note on Monday, September 8th. Cowen restated a "buy" rating on shares of Alphabet in a report on Wednesday, July 9th. Lake Street Capital restated a "buy" rating on shares of Alphabet in a report on Wednesday, July 9th. UBS Group raised their target price on shares of Alphabet from $186.00 to $192.00 and gave the company a "neutral" rating in a report on Wednesday, July 16th. Finally, JPMorgan Chase & Co. raised their target price on shares of Alphabet from $232.00 to $260.00 and gave the company an "overweight" rating in a report on Wednesday, September 3rd. Five equities research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $235.33.

Alphabet Stock Performance

Shares of NASDAQ GOOG opened at $247.13 on Wednesday. The company has a market cap of $2.99 trillion, a PE ratio of 26.32, a price-to-earnings-growth ratio of 1.70 and a beta of 1.00. Alphabet Inc. has a 12 month low of $142.66 and a 12 month 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 company has a 50-day simple moving average of $224.07 and a 200-day simple moving average of $188.32.

Alphabet (NASDAQ:GOOG - Get Free Report) last issued its quarterly earnings results 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 business had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.67 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The company's quarterly revenue was up 13.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.89 earnings per share. On average, equities analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Announces Dividend

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

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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