Drucker Wealth 3.0 LLC lessened its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 8.9% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 11,865 shares of the information services provider's stock after selling 1,164 shares during the period. Drucker Wealth 3.0 LLC's holdings in Alphabet were worth $2,108,000 as of its most recent filing with the SEC.
Other hedge funds have also recently added to or reduced their stakes in the company. ACT Advisors LLC. boosted its position in shares of Alphabet by 3.5% during the second quarter. ACT Advisors LLC. now owns 1,625 shares of the information services provider's stock valued at $288,000 after buying an additional 55 shares during the last quarter. LongView Wealth Management boosted its position in shares of Alphabet by 1.1% during the second quarter. LongView Wealth Management now owns 5,126 shares of the information services provider's stock valued at $909,000 after buying an additional 56 shares during the last quarter. Kooman & Associates boosted its position in shares of Alphabet by 1.4% during the second quarter. Kooman & Associates now owns 4,127 shares of the information services provider's stock valued at $732,000 after buying an additional 56 shares during the last quarter. Colton Groome Financial Advisors LLC boosted its position in shares of Alphabet by 3.4% during the second quarter. Colton Groome Financial Advisors LLC now owns 1,742 shares of the information services provider's stock valued at $309,000 after buying an additional 57 shares during the last quarter. Finally, Brueske Advisory Services LLC boosted its position in shares of Alphabet by 2.7% during the second quarter. Brueske Advisory Services LLC now owns 2,194 shares of the information services provider's stock valued at $389,000 after buying an additional 58 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company's stock.
Wall Street Analysts Forecast Growth
Several research analysts recently issued reports on the company. Wells Fargo & Company reaffirmed an "equal weight" rating on shares of Alphabet in a research report on Wednesday, July 9th. Raymond James Financial reissued an "outperform" rating and issued a $210.00 price objective (up previously from $185.00) on shares of Alphabet in a research report on Thursday, July 24th. Robert W. Baird boosted their price objective on Alphabet from $215.00 to $275.00 and gave the stock an "outperform" rating in a research report on Monday, September 22nd. Cowen reissued a "buy" rating on shares of Alphabet in a research report on Wednesday, October 8th. Finally, Phillip Securities cut Alphabet from a "strong-buy" rating to a "moderate buy" rating in a research report on Monday, September 8th. Six equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $241.00.
Read Our Latest Stock Analysis on GOOG
Insider Buying and Selling
In other news, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $196.23, for a total value of $6,377,475.00. Following the completion of the transaction, the chief executive officer directly owned 2,494,892 shares in the company, valued at approximately $489,572,657.16. This represents a 1.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kavitark Ram Shriram sold 18,566 shares of the company's stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $3,448,820.16. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 276,338 shares of company stock worth $59,062,683 over the last ninety days. 12.99% of the stock is owned by corporate insiders.
Alphabet Stock Performance
Shares of GOOG opened at $244.64 on Tuesday. The firm has a market cap of $2.96 trillion, a PE ratio of 26.05, a PEG ratio of 1.60 and a beta of 1.00. The stock's fifty day moving average price is $227.94 and its two-hundred day moving average price is $190.61. 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 Inc. has a 1 year low of $142.66 and a 1 year high of $256.70.
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, beating 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 for the quarter, compared to analyst estimates of $93.67 billion. During the same period in the previous year, the company posted $1.89 EPS. The firm's revenue for the quarter was up 13.8% compared to the same quarter last year. On average, equities research analysts forecast that Alphabet Inc. will post 8.89 EPS for the current year.
Alphabet Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.3%. The ex-dividend date was Monday, September 8th. Alphabet's payout ratio is presently 8.95%.
Alphabet Profile
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Free Report)
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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