Heritage Wealth Partners LLC Has $226,000 Stake in Alphabet Inc. $GOOG

Key Points

• Heritage Wealth Partners LLC significantly reduced its stake in Alphabet Inc. by 75.4%, ending the first quarter with just 1,448 shares valued at approximately $226,000.
• Alphabet reported strong quarterly results, achieving $2.31 EPS and $96.43 billion in revenue, surpassing analysts' expectations and showing a 13.8% year-over-year revenue increase.
• Alphabet recently declared a quarterly dividend of $0.21 per share, which will be paid on September 15th, reflecting a 0.4% yield.

Heritage Wealth Partners LLC decreased its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 75.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 1,448 shares of the information services provider's stock after selling 4,433 shares during the quarter. Heritage Wealth Partners LLC's holdings in Alphabet were worth $226,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in GOOG. Principia Wealth Advisory LLC increased its holdings in shares of Alphabet by 111.8% during the 1st quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock worth $26,000 after purchasing an additional 85 shares during the period. MorganRosel Wealth Management LLC bought a new position in shares of Alphabet during the 1st quarter worth about $26,000. Goodman Advisory Group LLC bought a new position in shares of Alphabet during the 1st quarter worth about $32,000. Greykasell Wealth Strategies Inc. bought a new position in shares of Alphabet during the 1st quarter worth about $32,000. Finally, Elevate Wealth Advisory Inc. bought a new position in shares of Alphabet during the 1st quarter worth about $34,000. Institutional investors own 27.26% of the company's stock.

Insider Activity

In other Alphabet news, Director John L. Hennessy sold 1,000 shares of the business's stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $200.00, for a total value of $200,000.00. Following the transaction, the director directly owned 6,916 shares in the company, valued at $1,383,200. The trade was a 12.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the business's 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 completion of the transaction, the chief executive officer owned 2,559,892 shares in the company, valued at approximately $456,991,919.84. This trade represents a 1.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 254,719 shares of company stock valued at $47,223,172 in the last ninety days. 12.99% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on GOOG. Citizens Jmp upgraded shares of Alphabet from a "hold" rating to a "strong-buy" rating in a report on Thursday, June 26th. Barclays reissued a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. Needham & Company LLC cut shares of Alphabet from a "buy" rating to a "cautious" rating in a research note on Friday, May 2nd. Roth Capital reissued a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. Finally, Cowen reissued a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. Five investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, six have given a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $215.19.

Alphabet Price Performance

NASDAQ:GOOG traded up $6.10 on Friday, reaching $206.72. The stock had a trading volume of 25,689,130 shares, compared to its average volume of 19,873,476. The company has a market capitalization of $2.50 trillion, a P/E ratio of 22.01, a price-to-earnings-growth ratio of 1.39 and a beta of 1.02. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $209.23. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The stock has a fifty day moving average price of $187.71 and a 200-day moving average price of $174.60.

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

Alphabet Dividend Announcement

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

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.