Alphabet Inc. $GOOG Shares Sold by Bard Financial Services Inc.

Key Points

• Bard Financial Services Inc. reduced its stake in Alphabet Inc. by 3.6%, now holding 42,040 shares valued at approximately $7.46 million after selling 1,550 shares in the second quarter.
• Insider transactions included John Kent Walker selling 23,820 shares and CEO Sundar Pichai selling 32,500 shares, marking a 35.65% and 1.32% decrease in their holdings, respectively.
• Alphabet recently announced a quarterly dividend of $0.21 per share, with the ex-dividend date set for September 8, reflecting a 0.3% yield and a dividend payout ratio of 8.95%.

Bard Financial Services Inc. lowered its holdings in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 3.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,040 shares of the information services provider's stock after selling 1,550 shares during the quarter. Bard Financial Services Inc.'s holdings in Alphabet were worth $7,457,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in GOOG. Vanguard Group Inc. boosted its stake in Alphabet by 2.4% during the first quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider's stock valued at $64,299,725,000 after buying an additional 9,687,855 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Alphabet by 9.9% in the 1st quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider's stock valued at $15,971,861,000 after purchasing an additional 9,243,959 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Alphabet by 2.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 34,103,417 shares of the information services provider's stock worth $6,494,655,000 after buying an additional 769,335 shares during the period. Deutsche Bank AG raised its holdings in shares of Alphabet by 5.4% in the first quarter. Deutsche Bank AG now owns 21,345,784 shares of the information services provider's stock worth $3,334,852,000 after buying an additional 1,098,996 shares during the period. Finally, Invesco Ltd. raised its holdings in shares of Alphabet by 2.2% in the first quarter. Invesco Ltd. now owns 20,380,073 shares of the information services provider's stock worth $3,183,979,000 after buying an additional 440,526 shares during the period. Hedge funds and other institutional investors own 27.26% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on GOOG shares. Raymond James Financial restated an "outperform" rating and set a $210.00 price objective (up from $185.00) on shares of Alphabet in a report on Thursday, July 24th. Cowen restated a "buy" rating on shares of Alphabet in a report on Wednesday, July 9th. Wells Fargo & Company restated an "equal weight" rating on shares of Alphabet in a report on Wednesday, July 9th. Piper Sandler restated a "neutral" rating on shares of Alphabet in a report on Wednesday, July 9th. Finally, KeyCorp set a $265.00 price objective on Alphabet in a report on Wednesday, September 3rd. Four equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, five have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, Alphabet presently has a consensus rating of "Moderate Buy" and an average price target of $227.56.

Alphabet Stock Down 0.1%

GOOG stock traded down $0.34 on Tuesday, hitting $251.42. 24,479,119 shares of the company's stock were exchanged, compared to its average volume of 23,142,790. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $253.23. The firm has a 50 day moving average price of $204.16 and a two-hundred day moving average price of $179.48. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The stock has a market cap of $3.04 trillion, a P/E ratio of 26.81, a price-to-earnings-growth ratio of 1.69 and a beta of 1.01.

Alphabet (NASDAQ:GOOG - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping analysts' consensus estimates of $2.12 by $0.19. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The company had revenue of $96.43 billion during the quarter, compared to analysts' expectations of $93.67 billion. During the same quarter in the previous year, the firm posted $1.89 EPS. The firm's revenue was up 13.8% compared to the same quarter last year. As a group, equities research analysts expect that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Announces Dividend

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

Insider Activity at Alphabet

In other news, insider John Kent Walker sold 23,820 shares of the business's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $194.70, for a total value of $4,637,754.00. Following the completion of the transaction, the insider owned 42,999 shares of the company's stock, valued at $8,371,905.30. The trade was a 35.65% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $229.73, for a total value of $7,466,225.00. Following the completion of the transaction, the chief executive officer directly owned 2,429,892 shares of the company's stock, valued at approximately $558,219,089.16. This trade represents a 1.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 258,088 shares of company stock worth $50,038,654 in the last quarter. 12.99% of the stock is owned by 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.