Alphabet Inc. $GOOGL Shares Sold by SRH Advisors LLC

Key Points

• SRH Advisors LLC reduced its stake in Alphabet Inc. by 35.1%, bringing their total shares down to 2,273, worth approximately $401,000.
• Significant insider trading activity occurred, with CAO Amie Thuener O'toole selling 2,778 shares and CEO Sundar Pichai selling 32,500 shares recently, representing decreases in their ownership.
• Alphabet announced a quarterly dividend of $0.21, leading to an annualized dividend yield of 0.3%, while institutional investors and hedge funds now hold 40.03% of the company's stock.

SRH Advisors LLC trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 35.1% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,273 shares of the information services provider's stock after selling 1,230 shares during the period. SRH Advisors LLC's holdings in Alphabet were worth $401,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Guardian Wealth Management Inc. boosted its position in Alphabet by 242.9% during the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider's stock worth $26,000 after purchasing an additional 119 shares during the period. von Borstel & Associates Inc. purchased a new position in Alphabet in the 1st quarter valued at about $28,000. IMA Advisory Services Inc. purchased a new position in Alphabet in the 1st quarter valued at about $28,000. NBZ Investment Advisors LLC boosted its position in Alphabet by 85.7% in the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider's stock valued at $30,000 after buying an additional 90 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. purchased a new position in Alphabet in the 1st quarter valued at about $39,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CAO Amie Thuener O'toole sold 2,778 shares of the firm's stock in a transaction on Monday, September 15th. The shares were sold at an average price of $245.00, for a total value of $680,610.00. Following the transaction, the chief accounting officer directly owned 17,293 shares in the company, valued at approximately $4,236,785. This trade represents a 13.84% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $249.50, for a total transaction of $8,108,750.00. Following the completion of the transaction, the chief executive officer owned 2,397,392 shares in the company, valued at $598,149,304. The trade was a 1.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 243,838 shares of company stock valued at $53,070,333. 11.55% of the stock is owned by corporate insiders.

Alphabet Stock Up 0.5%

GOOGL stock opened at $245.45 on Wednesday. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $256.00. 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 company has a market cap of $2.97 trillion, a price-to-earnings ratio of 26.14, a PEG ratio of 1.65 and a beta of 1.00. The company has a 50 day moving average of $228.31 and a two-hundred day moving average of $189.86.

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

Alphabet Announces Dividend

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

Analysts Set New Price Targets

GOOGL has been the subject of a number of analyst reports. Stifel Nicolaus upped their price objective on shares of Alphabet from $200.00 to $218.00 and gave the company a "buy" rating in a research report on Tuesday, July 22nd. HSBC initiated coverage on shares of Alphabet in a research report on Tuesday, October 7th. They issued a "buy" rating and a $285.00 price objective for the company. Mizuho set a $295.00 price objective on shares of Alphabet and gave the company an "outperform" rating in a research report on Monday, September 29th. Robert W. Baird upped their price objective on shares of Alphabet from $215.00 to $275.00 and gave the company an "outperform" rating in a research report on Monday, September 22nd. Finally, Tigress Financial upped their target price on shares of Alphabet from $240.00 to $280.00 and gave the company a "strong-buy" rating in a research note on Friday, September 5th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating and ten have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $249.26.

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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