Howe & Rusling Inc. Has $10.90 Million Stock Holdings in Alphabet Inc. $GOOG

Key Points

• Howe & Rusling Inc. reduced its position in Alphabet Inc. by 5.0%, selling 3,696 shares, resulting in holdings valued at approximately $10.9 million as of the latest SEC filing.
• Insider John Kent Walker sold 23,820 shares at an average price of $194.70, a transaction totaling over $4.6 million, while CEO Sundar Pichai sold 32,500 shares for approximately $7.5 million, indicating notable insider selling activity.
• Analysts are optimistic about Alphabet, with Pivotal Research raising its price target to $300 and a consensus rating of "Moderate Buy" based on the stock's recent performance and financial results.

Howe & Rusling Inc. cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 5.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 69,751 shares of the information services provider's stock after selling 3,696 shares during the quarter. Howe & Rusling Inc.'s holdings in Alphabet were worth $10,897,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of GOOG. Principia Wealth Advisory LLC lifted its holdings 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 worth $26,000 after buying an additional 85 shares during the last quarter. MorganRosel Wealth Management LLC acquired a new position in shares of Alphabet in the first quarter valued at $26,000. Goodman Advisory Group LLC acquired a new position in shares of Alphabet in the first quarter valued at $32,000. Greykasell Wealth Strategies Inc. acquired a new position in shares of Alphabet in the first quarter valued at $32,000. Finally, Elevate Wealth Advisory Inc. acquired a new position in shares of Alphabet in the first quarter valued at $34,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Kavitark Ram Shriram sold 15,000 shares of the firm's stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $185.76, for a total transaction of $2,786,400.00. Following the sale, the director owned 240,400 shares of the company's stock, valued at $44,656,704. This trade represents a 5.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John L. Hennessy sold 600 shares of the firm's stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $203.79, for a total value of $122,274.00. Following the sale, the director directly owned 6,316 shares in the company, valued at approximately $1,287,137.64. This represents a 8.68% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 254,710 shares of company stock worth $49,208,380. 12.99% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

GOOG has been the subject of a number of recent research reports. Cowen restated a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. Wells Fargo & Company restated an "equal weight" rating on shares of Alphabet in a research note on Wednesday, July 9th. Scotiabank upped their target price on Alphabet from $200.00 to $240.00 and gave the company a "sector outperform" rating in a research note on Tuesday, July 22nd. Roth Capital restated a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. Finally, Raymond James Financial restated an "outperform" rating and issued a $210.00 target price (up from $185.00) on shares of Alphabet in a research note on Thursday, July 24th. Four research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $227.56.

Alphabet Trading Up 0.2%

NASDAQ:GOOG traded up $0.60 during mid-day trading on Friday, hitting $241.38. The company had a trading volume of 14,519,054 shares, compared to its average volume of 22,624,780. The firm has a market cap of $2.92 trillion, a P/E ratio of 25.71, a P/E/G ratio of 1.62 and a beta of 1.01. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The business's fifty day moving average is $202.67 and its two-hundred day moving average is $178.86. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $242.57.

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, topping analysts' consensus estimates of $2.12 by $0.19. The company had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.67 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.Alphabet's revenue was up 13.8% compared to the same quarter last year. During the same quarter last year, the firm posted $1.89 earnings per share. As a group, research analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. Alphabet's dividend payout ratio (DPR) is currently 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.