Alphabet Inc. $GOOGL Shares Sold by Cambridge Advisors Inc.

Key Points

• Cambridge Advisors Inc. reduced its holdings in Alphabet Inc. by 16.3% in the 2nd quarter, owning 8,802 shares worth $1,551,000 after selling 1,713 shares.
• Alphabet reported $2.31 earnings per share for the last quarter, surpassing consensus estimates of $2.15, and had a revenue of $96.43 billion, exceeding analyst expectations.
• Insiders have sold 225,469 shares of Alphabet stock worth over $46 million in the last ninety days, indicating ongoing changes in ownership dynamics.

Cambridge Advisors Inc. reduced its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 16.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,802 shares of the information services provider's stock after selling 1,713 shares during the period. Cambridge Advisors Inc.'s holdings in Alphabet were worth $1,551,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Mystic Asset Management Inc. boosted its position in shares of Alphabet by 6.7% during the 1st quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider's stock worth $4,400,000 after purchasing an additional 1,791 shares in the last quarter. Harbour Trust & Investment Management Co lifted its stake in Alphabet by 0.3% in the 1st quarter. Harbour Trust & Investment Management Co now owns 27,075 shares of the information services provider's stock valued at $4,187,000 after buying an additional 80 shares in the last quarter. Cypress Capital LLC boosted its stake in shares of Alphabet by 4.1% during the first quarter. Cypress Capital LLC now owns 14,310 shares of the information services provider's stock valued at $2,213,000 after acquiring an additional 563 shares during the last quarter. Bridgeway Capital Management LLC grew its holdings in shares of Alphabet by 17.9% during the first quarter. Bridgeway Capital Management LLC now owns 88,187 shares of the information services provider's stock worth $13,637,000 after buying an additional 13,371 shares in the last quarter. Finally, Alaethes Wealth LLC raised its holdings in Alphabet by 1.1% in the 1st quarter. Alaethes Wealth LLC now owns 7,646 shares of the information services provider's stock valued at $1,182,000 after acquiring an additional 84 shares during the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Alphabet Price Performance

Shares of GOOGL stock opened at $243.10 on Wednesday. The stock's fifty day simple moving average is $218.05 and its 200 day simple moving average is $184.24. Alphabet Inc. has a one year low of $140.53 and a one year high of $256.00. The firm has a market cap of $2.94 trillion, a price-to-earnings ratio of 25.89, a P/E/G ratio of 1.65 and a beta of 1.01. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.16. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The company had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.60 billion. On average, analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

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

Analyst Ratings Changes

A number of research firms have recently commented on GOOGL. KeyCorp upped their price objective on Alphabet from $230.00 to $265.00 and gave the stock an "overweight" rating in a report on Wednesday, September 3rd. Stifel Nicolaus raised their price objective on Alphabet from $200.00 to $218.00 and gave the company a "buy" rating in a research note on Tuesday, July 22nd. Sanford C. Bernstein increased their price target on shares of Alphabet from $185.00 to $195.00 and gave the stock a "market perform" rating in a research report on Tuesday, July 22nd. Melius Research lifted their price objective on shares of Alphabet from $220.00 to $255.00 in a report on Thursday, September 25th. Finally, Mizuho set a $295.00 price target on Alphabet and gave the stock an "outperform" rating in a report on Monday. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $235.63.

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O'toole sold 2,778 shares of Alphabet stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $245.00, for a total transaction of $680,610.00. Following the transaction, the chief accounting officer owned 17,293 shares in the company, valued at $4,236,785. The trade was a 13.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Kavitark Ram Shriram sold 18,566 shares of the firm's stock in a transaction that occurred 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 sale, the director owned 243,400 shares in the company, valued at $45,213,984. This trade represents a 7.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 225,469 shares of company stock worth $46,586,752 over the last ninety days. 11.55% of the stock is owned by corporate insiders.

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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