Gould Capital LLC Sells 3,776 Shares of Alphabet Inc. $GOOG

Key Points

• Gould Capital LLC has reduced its stake in Alphabet Inc. by 19.6%, now holding 15,459 shares after selling 3,776 during the first quarter.
• Alphabet announced a quarterly dividend of $0.21 per share, set to be paid on September 15th, which represents an annualized yield of 0.4%.
• CEO Sundar Pichai recently sold 32,500 shares valued at $5.8 million, decreasing his ownership by 1.25% to approximately 2.56 million shares.

Gould Capital LLC decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 19.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,459 shares of the information services provider's stock after selling 3,776 shares during the quarter. Alphabet comprises approximately 1.7% of Gould Capital LLC's portfolio, making the stock its 24th biggest holding. Gould Capital LLC's holdings in Alphabet were worth $2,415,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Norinchukin Bank The grew its position in shares of Alphabet by 29.0% during the 1st quarter. Norinchukin Bank The now owns 302,242 shares of the information services provider's stock valued at $47,219,000 after purchasing an additional 67,878 shares in the last quarter. CW Advisors LLC grew its position in shares of Alphabet by 45.4% during the 1st quarter. CW Advisors LLC now owns 249,611 shares of the information services provider's stock valued at $39,389,000 after purchasing an additional 77,936 shares in the last quarter. Summit Financial LLC grew its position in shares of Alphabet by 65.6% during the 1st quarter. Summit Financial LLC now owns 81,307 shares of the information services provider's stock valued at $12,703,000 after purchasing an additional 32,206 shares in the last quarter. Kaufman Rossin Wealth LLC purchased a new position in shares of Alphabet during the 1st quarter valued at $246,000. Finally, Tiemann Investment Advisors LLC grew its position in shares of Alphabet by 0.8% during the 1st quarter. Tiemann Investment Advisors LLC now owns 12,694 shares of the information services provider's stock valued at $1,983,000 after purchasing an additional 98 shares in the last quarter. Institutional investors own 27.26% of the company's stock.

Insider Activity at Alphabet

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 value 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 $456,991,919.84. This represents a 1.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director John L. Hennessy sold 1,000 shares of the firm's stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $200.00, for a total transaction of $200,000.00. Following the transaction, the director directly owned 6,916 shares of the company's stock, valued at $1,383,200. This represents a 12.63% decrease in their position. The disclosure for this sale can be found here. Insiders sold 222,219 shares of company stock valued at $40,725,772 in the last three months. Corporate insiders own 12.99% of the company's stock.

Alphabet Stock Performance

NASDAQ GOOG opened at $200.19 on Thursday. The company has a 50-day simple moving average of $186.62 and a two-hundred day simple moving average of $174.88. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $208.70. The firm has a market cap of $2.42 trillion, a price-to-earnings ratio of 21.32, a PEG ratio of 1.37 and a beta of 1.02.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating 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 business had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.67 billion. During the same period in the prior year, the business posted $1.89 earnings per share. The company's revenue was up 13.8% on a year-over-year basis. On average, equities analysts forecast that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Announces Dividend

The business 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. This represents a $0.84 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet's dividend payout ratio is presently 8.95%.

Analyst Ratings Changes

A number of research firms have recently commented on GOOG. Pivotal Research boosted their price target on shares of Alphabet from $225.00 to $245.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Susquehanna restated a "positive" rating on shares of Alphabet in a research report on Friday, May 2nd. Lake Street Capital restated a "buy" rating on shares of Alphabet in a research report on Wednesday, July 9th. Piper Sandler reiterated a "neutral" rating on shares of Alphabet in a research report on Wednesday, July 9th. Finally, Needham & Company LLC lowered shares of Alphabet from a "buy" rating to a "cautious" rating in a research report on Friday, May 2nd. Five analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, six 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 a consensus price target of $215.19.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.