Greenwood Capital Associates LLC Sells 2,300 Shares of Alphabet Inc. $GOOG

Key Points

• Greenwood Capital Associates LLC sold 2,300 shares of Alphabet Inc., reducing their holdings by 14.4% to a total of 13,621 shares, valued at approximately $2,416,000.
• Insider John Kent Walker sold 23,820 shares of Alphabet, decreasing his ownership by 35.65%, while CEO Sundar Pichai sold 32,500 shares, marking a 1.27% decrease in his holdings.
• Alphabet recently reported a quarterly earnings per share (EPS) of $2.31, outperforming expectations, with revenue up 13.8% year-over-year, amounting to $96.43 billion.

Greenwood Capital Associates LLC lessened its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 14.4% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 13,621 shares of the information services provider's stock after selling 2,300 shares during the period. Greenwood Capital Associates LLC's holdings in Alphabet were worth $2,416,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Robbins Farley increased its holdings in Alphabet by 60.0% during the 2nd quarter. Robbins Farley now owns 160 shares of the information services provider's stock worth $28,000 after purchasing an additional 60 shares in the last quarter. Principia Wealth Advisory LLC boosted its position in shares of Alphabet by 111.8% during the first quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock valued at $26,000 after buying an additional 85 shares during the last quarter. MorganRosel Wealth Management LLC purchased a new position in shares of Alphabet during the first quarter valued at approximately $26,000. Greykasell Wealth Strategies Inc. bought a new stake in Alphabet during the first quarter worth $32,000. Finally, Goodman Advisory Group LLC purchased a new stake in Alphabet in the 1st quarter valued at $32,000. 27.26% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Alphabet

In other Alphabet 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 transaction of $4,637,754.00. Following the completion of the sale, the insider owned 42,999 shares of the company's stock, valued at approximately $8,371,905.30. The trade was a 35.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $184.38, for a total transaction of $5,992,350.00. Following the completion of the sale, the chief executive officer directly owned 2,527,392 shares of the company's stock, valued at approximately $466,000,536.96. This trade represents a 1.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 276,738 shares of company stock worth $59,135,475 in the last ninety days. Insiders own 12.99% of the company's stock.

Alphabet Stock Up 0.0%

GOOG stock opened at $246.45 on Monday. The business has a 50 day moving average of $221.89 and a 200 day moving average of $187.31. The firm has a market cap of $2.98 trillion, a PE ratio of 26.25, a price-to-earnings-growth ratio of 1.66 and a beta of 1.00. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $256.70. 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 (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 the consensus estimate of $2.12 by $0.19. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The business had revenue of $96.43 billion for the quarter, compared to analysts' expectations of $93.67 billion. During the same period in the prior year, the firm posted $1.89 EPS. The firm's quarterly revenue was up 13.8% on a year-over-year basis. On average, research analysts forecast that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were paid a dividend of $0.21 per share. The ex-dividend date 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%.

Wall Street Analysts Forecast Growth

GOOG has been the topic of a number of analyst reports. Piper Sandler reaffirmed a "neutral" rating on shares of Alphabet in a report on Wednesday, July 9th. Scotiabank upped their price objective on shares of Alphabet from $200.00 to $240.00 and gave the stock a "sector outperform" rating in a research report on Tuesday, July 22nd. Oppenheimer reissued an "outperform" rating and set a $270.00 target price (up previously from $235.00) on shares of Alphabet in a research report on Wednesday, September 3rd. Mizuho raised Alphabet to a "strong-buy" rating in a report on Monday, September 29th. Finally, Cowen restated a "buy" rating on shares of Alphabet in a research report on Wednesday, July 9th. Five investment analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, five have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, Alphabet currently has a consensus rating of "Moderate Buy" and a consensus price target of $235.33.

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.

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