Alphabet Inc. $GOOG Shares Sold by Prime Capital Investment Advisors LLC

Key Points

• Prime Capital Investment Advisors LLC reduced its holdings in Alphabet Inc. by 26.0%, now owning 221,090 shares valued at approximately $39.22 million.
• Alphabet's recent quarterly earnings revealed an EPS of $2.31, exceeding analysts' expectations of $2.12, with a total revenue of $96.43 billion.
• The firm announced a quarterly dividend of $0.21 per share, with a dividend yield of 0.3% and a payout ratio of 8.95%.

Prime Capital Investment Advisors LLC lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 26.0% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 221,090 shares of the information services provider's stock after selling 77,613 shares during the quarter. Prime Capital Investment Advisors LLC's holdings in Alphabet were worth $39,219,000 as of its most recent filing with the SEC.

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

Alphabet Stock Performance

Shares of Alphabet stock opened at $245.46 on Thursday. The firm has a market capitalization of $2.97 trillion, a P/E ratio of 26.14, a P/E/G ratio of 1.67 and a beta of 1.00. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $256.70. 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's 50 day moving average is $225.03 and its two-hundred day moving average is $188.71.

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. The company had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.67 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The firm's revenue was up 13.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.89 earnings per share. Research analysts forecast that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were given 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 dividend payout ratio (DPR) is 8.95%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Robert W. Baird raised their target price on shares of Alphabet from $215.00 to $275.00 and gave the company an "outperform" rating in a report on Monday, September 22nd. Pivotal Research raised their target price on shares of Alphabet from $245.00 to $300.00 and gave the company a "buy" rating in a report on Wednesday, September 3rd. KeyCorp set a $265.00 target price on shares of Alphabet in a report on Wednesday, September 3rd. Jefferies Financial Group raised their target price on shares of Alphabet from $230.00 to $285.00 and gave the company a "buy" rating in a report on Thursday, October 2nd. Finally, BNP Paribas cut shares of Alphabet from a "strong-buy" rating to a "hold" rating in a report on Thursday, June 26th. Six analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $237.68.

Insider Transactions at Alphabet

In other news, Director Kavitark Ram Shriram sold 18,566 shares of the firm's stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the transaction, the director directly owned 243,400 shares in the company, valued at approximately $45,213,984. This trade represents a 7.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 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 transaction, the insider owned 42,999 shares in the company, valued at approximately $8,371,905.30. This trade 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 276,738 shares of company stock worth $59,135,475. Insiders own 12.99% of the company's stock.

Alphabet 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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