Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Comprehensive Financial Planning Inc. PA

Key Points

• Comprehensive Financial Planning Inc. PA decreased its stake in Alphabet Inc. by 59.7%, now holding 992 shares valued at approximately $155,000.
• Alphabet recently reported $2.31 earnings per share, exceeding the consensus estimate of $2.12, and a revenue increase of 13.8% year-over-year to $96.43 billion.
• The company announced a quarterly dividend of $0.21 per share, with a payout ratio of 8.95% and a dividend yield of 0.4%.

Comprehensive Financial Planning Inc. PA reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 59.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 992 shares of the information services provider's stock after selling 1,469 shares during the quarter. Comprehensive Financial Planning Inc. PA's holdings in Alphabet were worth $155,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vision Financial Markets LLC grew its position in Alphabet by 16.8% during the first quarter. Vision Financial Markets LLC now owns 4,288 shares of the information services provider's stock worth $670,000 after buying an additional 618 shares during the period. West Michigan Advisors LLC grew its position in Alphabet by 1.4% during the first quarter. West Michigan Advisors LLC now owns 5,102 shares of the information services provider's stock worth $797,000 after buying an additional 70 shares during the period. Financial Connections Group Inc. grew its position in Alphabet by 270.7% during the first quarter. Financial Connections Group Inc. now owns 1,327 shares of the information services provider's stock worth $207,000 after buying an additional 969 shares during the period. iA Global Asset Management Inc. grew its position in shares of Alphabet by 25.4% in the first quarter. iA Global Asset Management Inc. now owns 808,446 shares of the information services provider's stock valued at $126,304,000 after purchasing an additional 163,539 shares during the last quarter. Finally, ABC Arbitrage SA grew its position in shares of Alphabet by 473.6% in the first quarter. ABC Arbitrage SA now owns 21,606 shares of the information services provider's stock valued at $3,376,000 after purchasing an additional 17,839 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Stock Up 3.1%

Shares of NASDAQ:GOOG opened at $195.75 on Tuesday. The stock has a 50-day simple moving average of $179.89 and a 200-day simple moving average of $174.38. The stock has a market capitalization of $2.37 trillion, a P/E ratio of 20.85, a PEG ratio of 1.26 and a beta of 1.02. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $208.70. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90.

Alphabet (NASDAQ:GOOG - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping 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 company had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.67 billion. During the same period in the previous year, the firm earned $1.89 earnings per share. Alphabet's revenue for the quarter was up 13.8% on a year-over-year basis. Equities analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Monday, September 8th. Alphabet's payout ratio is currently 8.95%.

Wall Street Analyst Weigh In

Several research firms have recently commented on GOOG. Barclays reiterated a "buy" rating on shares of Alphabet in a research report on Wednesday, July 9th. UBS Group increased their price target on shares of Alphabet from $186.00 to $192.00 and gave the company a "neutral" rating in a research report on Wednesday, July 16th. Rosenblatt Securities upgraded shares of Alphabet from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 25th. Roth Capital reaffirmed a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. Finally, Cowen reiterated a "buy" rating on shares of Alphabet in a report on Wednesday, July 9th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have issued a buy rating and five have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $215.19.

Insider Transactions at Alphabet

In related news, Director Kavitark Ram Shriram sold 18,566 shares of Alphabet stock in a transaction 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 sale, the director owned 243,400 shares of the company's stock, valued at $45,213,984. The trade was a 7.09% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $178.52, for a total transaction of $5,801,900.00. Following the completion of the transaction, the chief executive officer directly owned 2,559,892 shares of the company's stock, valued at approximately $456,991,919.84. The trade was a 1.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 249,399 shares of company stock worth $43,525,794. 12.99% of the stock is currently owned by insiders.

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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