Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Fi3 FINANCIAL ADVISORS LLC

Key Points

• Fi3 FINANCIAL ADVISORS LLC reduced its stake in Alphabet Inc. by 24.2%, selling 1,896 shares, which positions Alphabet as its 29th largest holding valued at approximately $929,000.
• Alphabet reported a quarterly earnings per share (EPS) of $2.31, exceeding analysts' expectations, with revenue reaching $96.43 billion, up 13.8% year-over-year.
• The company has also announced a quarterly dividend of $0.21, set to be paid on September 15th, reflecting an annualized dividend yield of 0.4%.

Fi3 FINANCIAL ADVISORS LLC lowered its holdings in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 24.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,945 shares of the information services provider's stock after selling 1,896 shares during the quarter. Alphabet accounts for 0.4% of Fi3 FINANCIAL ADVISORS LLC's holdings, making the stock its 29th biggest position. Fi3 FINANCIAL ADVISORS LLC's holdings in Alphabet were worth $929,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Nicholas Hoffman & Company LLC. grew its stake in Alphabet by 4.0% in the 1st quarter. Nicholas Hoffman & Company LLC. now owns 25,146 shares of the information services provider's stock valued at $3,929,000 after acquiring an additional 976 shares during the period. WealthShield Partners LLC lifted its holdings in shares of Alphabet by 69.9% in the 1st quarter. WealthShield Partners LLC now owns 9,531 shares of the information services provider's stock worth $1,489,000 after acquiring an additional 3,920 shares during the last quarter. Warburton Capital Management LLC boosted its position in shares of Alphabet by 15.6% during the first quarter. Warburton Capital Management LLC now owns 3,212 shares of the information services provider's stock worth $501,000 after buying an additional 433 shares during the period. Vanguard Group Inc. grew its position in Alphabet by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider's stock valued at $64,299,725,000 after acquiring an additional 9,687,855 shares in the last quarter. Finally, Atlantic Private Wealth LLC grew its holdings in shares of Alphabet by 387.4% in the first quarter. Atlantic Private Wealth LLC now owns 4,874 shares of the information services provider's stock valued at $761,000 after purchasing an additional 3,874 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company's stock.

Analyst Ratings Changes

A number of research firms have issued reports on GOOG. Needham & Company LLC lowered Alphabet from a "buy" rating to a "cautious" rating in a research report on Friday, May 2nd. BNP Paribas downgraded shares of Alphabet from a "strong-buy" rating to a "hold" rating in a research note on Thursday, June 26th. UBS Group raised their target price on shares of Alphabet from $186.00 to $192.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 16th. Pivotal Research upped their price objective on Alphabet from $225.00 to $245.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Finally, Cantor Fitzgerald restated a "neutral" rating and issued a $171.00 target price on shares of Alphabet in a research note on Friday, April 25th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have issued a buy rating and five have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $215.19.

Alphabet Trading Up 0.2%

NASDAQ:GOOG traded up $0.36 on Thursday, hitting $197.28. 14,292,926 shares of the stock were exchanged, compared to its average volume of 25,208,792. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $208.70. The stock has a fifty day moving average of $181.28 and a 200-day moving average of $174.68. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The stock has a market cap of $2.39 trillion, a PE ratio of 21.01, a PEG ratio of 1.31 and a beta of 1.02.

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

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be paid a $0.21 dividend. The ex-dividend date is Monday, September 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.4%. Alphabet's payout ratio is 8.95%.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 32,500 shares of the 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 sale, the chief executive officer owned 2,559,892 shares in the company, valued at $456,991,919.84. This represents a 1.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John Kent Walker sold 23,820 shares of the firm's stock in a transaction that occurred on 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 sale, the insider directly owned 42,999 shares in the company, valued at approximately $8,371,905.30. This trade represents a 35.65% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 273,219 shares of company stock worth $49,474,273. 12.99% of the stock is currently 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.