Koss Olinger Consulting LLC Trims Position in Alphabet Inc. (NASDAQ:GOOG)

Key Points

• Koss Olinger Consulting LLC has reduced its stake in Alphabet Inc. by 11.0%, now owning 28,959 shares valued at approximately $4.5 million.
• CEO Sundar Pichai sold 32,500 shares of the company stock, resulting in a 1.25% decrease in his ownership.
• Alphabet recently announced a quarterly $0.21 dividend, reflecting a 0.4% yield, with the dividend payout ratio currently at 8.95%.

Koss Olinger Consulting LLC lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 11.0% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 28,959 shares of the information services provider's stock after selling 3,588 shares during the period. Koss Olinger Consulting LLC's holdings in Alphabet were worth $4,524,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of GOOG. Principia Wealth Advisory LLC raised its holdings in Alphabet by 111.8% in the 1st 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 period. MorganRosel Wealth Management LLC purchased a new stake in Alphabet in the 1st quarter valued at about $26,000. LSV Asset Management purchased a new stake in Alphabet in the 4th quarter valued at about $27,000. Goodman Advisory Group LLC purchased a new stake in Alphabet in the 1st quarter valued at about $32,000. Finally, Greykasell Wealth Strategies Inc. purchased a new stake in Alphabet in the 1st quarter valued at about $32,000. Hedge funds and other institutional investors own 27.26% of the company's stock.

Analysts Set New Price Targets

GOOG has been the topic of several research analyst reports. Needham & Company LLC lowered shares of Alphabet from a "buy" rating to a "cautious" rating in a report on Friday, May 2nd. JPMorgan Chase & Co. boosted their price objective on shares of Alphabet from $200.00 to $232.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Lake Street Capital restated a "buy" rating on shares of Alphabet in a report on Wednesday, July 9th. UBS Group boosted their price objective on shares of Alphabet from $186.00 to $192.00 and gave the company a "neutral" rating in a report on Wednesday, July 16th. Finally, Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $171.00 target price on shares of Alphabet in a research report on Friday, April 25th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have assigned a buy rating and five have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $215.19.

Insider Buying and Selling at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the 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 directly owned 2,559,892 shares in the company, valued at $456,991,919.84. This represents a 1.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider John Kent Walker sold 23,820 shares of the stock in a transaction that occurred on Monday, August 4th. The shares were 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 $8,371,905.30. This represents a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 273,219 shares of company stock worth $49,474,273 over the last three months. Insiders own 12.99% of the company's stock.

Alphabet Stock Up 2.4%

GOOG stock opened at $202.11 on Friday. The company's 50 day moving average price is $181.90 and its 200 day moving average price is $174.70. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $208.70. The firm has a market capitalization of $2.44 trillion, a price-to-earnings ratio of 21.52, a PEG ratio of 1.31 and a beta of 1.02.

Alphabet (NASDAQ:GOOG - Get Free Report) last released its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping 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 business's quarterly revenue was up 13.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.89 earnings per share. On average, equities research analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Dividend Announcement

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

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