Alphabet Inc. $GOOG Shares Sold by Signaturefd LLC

Key Points

• Signaturefd LLC reduced its stake in Alphabet Inc. by 3.1%, owning 69,400 shares post-sale, valued at approximately $12.31 million.
• CEO Sundar Pichai sold 32,500 shares at an average price of $229.73, representing a 1.32% decrease in his ownership of the company.
• Alphabet declared a quarterly $0.21 dividend, yielding 0.3%, with a dividend payout ratio of 8.95%.

Signaturefd LLC reduced its stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 3.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 69,400 shares of the information services provider's stock after selling 2,238 shares during the period. Signaturefd LLC's holdings in Alphabet were worth $12,311,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Principia Wealth Advisory LLC increased its holdings in Alphabet by 111.8% in the first quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock valued at $26,000 after buying an additional 85 shares during the last quarter. MorganRosel Wealth Management LLC acquired a new position in shares of Alphabet during the 1st quarter worth about $26,000. Greykasell Wealth Strategies Inc. acquired a new position in shares of Alphabet during the 1st quarter worth about $32,000. Goodman Advisory Group LLC purchased a new stake in Alphabet during the first quarter worth approximately $32,000. Finally, Elevate Wealth Advisory Inc. purchased a new stake in Alphabet during the first quarter worth approximately $34,000. Hedge funds and other institutional investors own 27.26% of the company's stock.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $229.73, for a total transaction of $7,466,225.00. Following the completion of the sale, the chief executive officer directly owned 2,429,892 shares of the company's stock, valued at $558,219,089.16. This trade represents a 1.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kavitark Ram Shriram sold 18,566 shares of the company's stock in a transaction on Friday, July 18th. The stock was sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the transaction, the director owned 243,400 shares of the company's stock, valued at approximately $45,213,984. The trade was a 7.09% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 257,866 shares of company stock valued at $52,363,610. Company insiders own 12.99% of the company's stock.

Alphabet Stock Up 0.2%

Shares of NASDAQ:GOOG opened at $247.18 on Monday. The firm has a fifty day moving average price of $216.61 and a 200 day moving average price of $184.53. Alphabet Inc. has a 1-year low of $142.66 and a 1-year 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 stock has a market cap of $2.99 trillion, a P/E ratio of 26.32, a P/E/G ratio of 1.67 and a beta of 1.01.

Alphabet (NASDAQ:GOOG - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating analysts' consensus estimates of $2.12 by $0.19. The business had revenue of $96.43 billion during the quarter, compared to analysts' expectations of $93.67 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The business's revenue was up 13.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.89 earnings per share. Sell-side analysts predict that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were paid a $0.21 dividend. 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 8.95%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on GOOG. Wells Fargo & Company reissued an "equal weight" rating on shares of Alphabet in a report on Wednesday, July 9th. KeyCorp set a $265.00 target price on shares of Alphabet in a research report on Wednesday, September 3rd. Raymond James Financial restated an "outperform" rating and issued a $210.00 price objective (up previously from $185.00) on shares of Alphabet in a research note on Thursday, July 24th. Lake Street Capital restated a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. Finally, Cowen restated a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. Four research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat, Alphabet presently has a consensus rating of "Moderate Buy" and a consensus target price of $230.35.

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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