Alphabet Inc. $GOOG Shares Sold by Neville Rodie & Shaw Inc.

Key Points

• Neville Rodie & Shaw Inc. reduced its stake in Alphabet Inc. by 1.1%, owning 147,394 shares after selling 1,660 shares, with Alphabet now representing about 1.9% of its portfolio.
• Alphabet reported earnings of $2.31 EPS for the last quarter, exceeding expectations of $2.12, and its revenue was up 13.8% year-over-year at $96.43 billion.
• The company announced a quarterly dividend of $0.21 per share, resulting in a low payout ratio of 8.95% and a dividend yield of 0.3% for investors.

Neville Rodie & Shaw Inc. cut its stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 1.1% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 147,394 shares of the information services provider's stock after selling 1,660 shares during the period. Alphabet accounts for about 1.9% of Neville Rodie & Shaw Inc.'s portfolio, making the stock its 12th largest position. Neville Rodie & Shaw Inc.'s holdings in Alphabet were worth $26,147,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Principia Wealth Advisory LLC boosted its stake in Alphabet by 111.8% in the 1st quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock worth $26,000 after purchasing an additional 85 shares in the last quarter. MorganRosel Wealth Management LLC acquired a new stake in Alphabet during the 1st quarter valued at approximately $26,000. Goodman Advisory Group LLC acquired a new stake in Alphabet during the 1st quarter valued at approximately $32,000. Greykasell Wealth Strategies Inc. acquired a new stake in Alphabet during the 1st quarter valued at approximately $32,000. Finally, Elevate Wealth Advisory Inc. acquired a new stake in Alphabet during the 1st quarter valued at approximately $34,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Stock Performance

GOOG opened at $241.38 on Friday. 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 firm has a fifty day moving average price of $202.67 and a 200 day moving average price of $178.83. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $242.57. The stock has a market cap of $2.92 trillion, a P/E ratio of 25.71, a P/E/G ratio of 1.62 and a beta of 1.01.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (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 firm had revenue of $96.43 billion during the quarter, compared to analysts' expectations of $93.67 billion. During the same period in the previous year, the business posted $1.89 EPS. The business's revenue was up 13.8% compared to the same quarter last year. Equities research analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Monday, September 8th. Alphabet's payout ratio is currently 8.95%.

Analyst Upgrades and Downgrades

Several analysts have commented on GOOG shares. Phillip Securities cut shares of Alphabet from a "strong-buy" rating to a "moderate buy" rating in a research note on Monday, September 8th. Piper Sandler restated a "neutral" rating on shares of Alphabet in a research note on Wednesday, July 9th. Pivotal Research lifted their price objective on shares of Alphabet from $245.00 to $300.00 and gave the company a "buy" rating in a research note on Wednesday, September 3rd. KeyCorp set a $265.00 price objective on shares of Alphabet in a research note on Wednesday, September 3rd. Finally, Citizens Jmp upgraded shares of Alphabet from a "hold" rating to a "strong-buy" rating in a research note on Thursday, June 26th. Four analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $227.56.

Insider Activity at Alphabet

In other Alphabet news, Director John L. Hennessy sold 1,000 shares of the company's stock in a transaction on Friday, August 8th. The shares were sold at an average price of $200.00, for a total transaction of $200,000.00. Following the completion of the transaction, the director directly owned 6,916 shares in the company, valued at approximately $1,383,200. This represents a 12.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, 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 transaction, the insider owned 42,999 shares of the company's stock, 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. Over the last ninety days, insiders have sold 254,710 shares of company stock valued at $49,208,380. 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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