HFR Wealth Management LLC Has $603,000 Stake in Alphabet Inc. $GOOG

Key Points

• HFR Wealth Management LLC reduced its stake in Alphabet Inc. by 24.7%, selling 1,265 shares and ending up with 3,862 shares worth $603,000.
• Alphabet recently reported an earnings per share (EPS) of $2.31 for the last quarter, exceeding estimates and achieving a revenue of $96.43 billion, a year-over-year increase of 13.8%.
• The company declared a quarterly dividend of $0.21 per share, with an annualized yield of 0.4%, which is scheduled to be paid on September 15th.

HFR Wealth Management LLC decreased its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 24.7% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,862 shares of the information services provider's stock after selling 1,265 shares during the period. HFR Wealth Management LLC's holdings in Alphabet were worth $603,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Principia Wealth Advisory LLC raised its stake in Alphabet by 111.8% during the first quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock worth $26,000 after acquiring an additional 85 shares during the period. MorganRosel Wealth Management LLC acquired a new stake in Alphabet during the first quarter worth about $26,000. Greykasell Wealth Strategies Inc. acquired a new stake in Alphabet during the first quarter worth about $32,000. Goodman Advisory Group LLC acquired a new stake in Alphabet during the first quarter worth about $32,000. Finally, Ball & Co Wealth Management Inc. acquired a new stake in shares of Alphabet in the fourth quarter valued at approximately $53,000. Institutional investors own 27.26% of the company's stock.

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on 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 transaction, the chief executive officer owned 2,559,892 shares in the company, valued at approximately $456,991,919.84. The trade was a 1.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider John Kent Walker sold 23,820 shares of Alphabet stock in a transaction that occurred on 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 transaction, the insider 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 242,319 shares of company stock worth $44,243,272. 12.99% of the stock is owned by insiders.

Alphabet Price Performance

Shares of NASDAQ GOOG traded down $2.24 during mid-day trading on Wednesday, reaching $200.25. 11,776,718 shares of the company traded hands, compared to its average volume of 23,779,943. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $208.70. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The firm has a market cap of $2.42 trillion, a PE ratio of 21.33, a price-to-earnings-growth ratio of 1.38 and a beta of 1.02. The stock has a fifty day simple moving average of $186.19 and a 200-day simple moving average of $174.71.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its quarterly earnings data 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 business 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 business's revenue for the quarter was up 13.8% on a year-over-year basis. During the same quarter last year, the business earned $1.89 earnings per share. Equities research analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm 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 annualized dividend and a yield of 0.4%. Alphabet's payout ratio is 8.95%.

Wall Street Analysts Forecast Growth

GOOG has been the topic of several analyst reports. UBS Group raised their price target on shares of Alphabet from $186.00 to $192.00 and gave the company a "neutral" rating in a research note on Wednesday, July 16th. Wells Fargo & Company restated an "equal weight" rating on shares of Alphabet in a research note on Wednesday, July 9th. Tigress Financial restated a "strong-buy" rating on shares of Alphabet in a research note on Friday, May 2nd. The Goldman Sachs Group restated a "buy" rating and issued a $220.00 price target on shares of Alphabet in a research note on Monday, June 2nd. Finally, Needham & Company LLC lowered shares of Alphabet from a "buy" rating to a "cautious" rating in a research note on Friday, May 2nd. Five research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average 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.