Alphabet Inc. $GOOG Shares Sold by Moody Lynn & Lieberson LLC

Key Points

• Moody Lynn & Lieberson LLC reduced its holdings in Alphabet Inc. by 4.0%, now owning 48,379 shares valued at approximately $8.58 million after selling 2,032 shares in the last quarter.
• Alphabet's earnings report showed an EPS of $2.31, exceeding estimates, with revenues of $96.43 billion, reflecting a 13.8% increase year-over-year.
• The company's recent quarterly dividend was declared at $0.21 per share, yielding 0.3%, with a payout ratio of 8.95%.

Moody Lynn & Lieberson LLC cut its holdings in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 4.0% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 48,379 shares of the information services provider's stock after selling 2,032 shares during the period. Moody Lynn & Lieberson LLC's holdings in Alphabet were worth $8,582,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Independence Bank of Kentucky boosted its position in Alphabet by 10.2% during the 1st quarter. Independence Bank of Kentucky now owns 14,907 shares of the information services provider's stock worth $2,329,000 after purchasing an additional 1,376 shares during the period. RDA Financial Network boosted its position in Alphabet by 5.3% during the 2nd quarter. RDA Financial Network now owns 11,094 shares of the information services provider's stock worth $1,968,000 after purchasing an additional 554 shares during the period. Fermata Advisors LLC boosted its position in Alphabet by 2.7% during the 1st quarter. Fermata Advisors LLC now owns 9,771 shares of the information services provider's stock worth $1,527,000 after purchasing an additional 259 shares during the period. Oldfather Financial Services LLC purchased a new stake in Alphabet during the 2nd quarter worth $213,000. Finally, Members Trust Co boosted its position in Alphabet by 84.7% during the 1st quarter. Members Trust Co now owns 4,999 shares of the information services provider's stock worth $781,000 after purchasing an additional 2,292 shares during the period. 27.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on GOOG. BNP Paribas lowered shares of Alphabet from a "strong-buy" rating to a "hold" rating in a report on Thursday, June 26th. Oppenheimer reiterated an "outperform" rating and issued a $270.00 price objective (up previously from $235.00) on shares of Alphabet in a report on Wednesday, September 3rd. Pivotal Research boosted their price objective on shares of Alphabet from $245.00 to $300.00 and gave the stock a "buy" rating in a report on Wednesday, September 3rd. Piper Sandler reiterated a "neutral" rating on shares of Alphabet in a report on Wednesday, July 9th. Finally, Lake Street Capital reiterated a "buy" rating on shares of Alphabet in a report on Wednesday, July 9th. Four analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $230.35.

Alphabet Price Performance

GOOG opened at $243.55 on Wednesday. The company's 50-day moving average price is $218.70 and its 200 day moving average price is $185.47. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $256.70. The firm has a market cap of $2.95 trillion, a price-to-earnings ratio of 25.94, a price-to-earnings-growth ratio of 1.65 and a beta of 1.01. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOG - Get Free Report) last announced its quarterly 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 net margin of 31.12% and a return on equity of 34.31%. The company had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.67 billion. During the same quarter last year, the business earned $1.89 earnings per share. Alphabet's revenue was up 13.8% compared to the same quarter last year. As a group, sell-side analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Announces Dividend

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

Insider Transactions at Alphabet

In other Alphabet news, Director John L. Hennessy sold 1,000 shares of Alphabet stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $200.00, for a total value of $200,000.00. Following the transaction, the director owned 6,916 shares in the company, valued at approximately $1,383,200. The trade was a 12.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider John Kent Walker sold 23,820 shares of the firm's stock in a transaction that occurred 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 transaction, the insider directly owned 42,999 shares of the company's stock, valued at $8,371,905.30. This represents a 35.65% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 225,469 shares of company stock valued at $46,586,752 in the last 90 days. 12.99% of the stock is owned by corporate insiders.

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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