Mascoma Wealth Management LLC Sells 1,160 Shares of Alphabet Inc. $GOOG

Key Points

• Mascoma Wealth Management LLC has reduced its stake in Alphabet Inc. by 53.5%, selling 1,160 shares and leaving it with a total of 1,010 shares valued at $179,000.
• Various brokerages have increased their price targets for Alphabet, with Scotiabank raising it to $240.00 and Pivotal Research to $300.00, indicating a positive outlook on the stock.
• Alphabet recently announced a quarterly dividend of $0.21 per share, reflecting an annualized yield of 0.3% with a low payout ratio of 8.95%.

Mascoma Wealth Management LLC trimmed its stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 53.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,010 shares of the information services provider's stock after selling 1,160 shares during the period. Mascoma Wealth Management LLC's holdings in Alphabet were worth $179,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of GOOG. MorganRosel Wealth Management LLC bought a new stake in Alphabet in the first quarter valued at $26,000. Robbins Farley grew its holdings in shares of Alphabet by 60.0% during the second quarter. Robbins Farley now owns 160 shares of the information services provider's stock worth $28,000 after purchasing an additional 60 shares during the last quarter. Goodman Advisory Group LLC bought a new stake in shares of Alphabet during the first quarter worth $32,000. Greykasell Wealth Strategies Inc. bought a new stake in shares of Alphabet during the first quarter worth $32,000. Finally, Elevate Wealth Advisory Inc. bought a new stake in shares of Alphabet during the first quarter worth $34,000. 27.26% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on GOOG. Scotiabank increased their target price on Alphabet from $200.00 to $240.00 and gave the stock a "sector outperform" rating in a report on Tuesday, July 22nd. Pivotal Research increased their target price on Alphabet from $245.00 to $300.00 and gave the stock a "buy" rating in a report on Wednesday, September 3rd. KeyCorp set a $265.00 target price on Alphabet in a report on Wednesday, September 3rd. UBS Group increased their target price on Alphabet from $186.00 to $192.00 and gave the stock a "neutral" rating in a report on Wednesday, July 16th. Finally, Oppenheimer reiterated an "outperform" rating and issued a $270.00 price target (up previously from $235.00) on shares of Alphabet in a report on Wednesday, September 3rd. Five research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating, five have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $235.33.

Alphabet Price Performance

Alphabet stock opened at $247.13 on Wednesday. The business's 50-day simple moving average is $224.07 and its 200 day simple moving average is $188.32. The stock has a market cap of $2.99 trillion, a price-to-earnings ratio of 26.32, a P/E/G ratio of 1.70 and a beta of 1.00. Alphabet Inc. has a 12-month low of $142.66 and a 12-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 posted its quarterly earnings results 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 quarter last year, the business earned $1.89 earnings per share. The firm's quarterly revenue was up 13.8% compared to the same quarter last year. As a group, research analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were issued 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 dividend payout ratio (DPR) is 8.95%.

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction dated 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 transaction, the chief executive officer owned 2,527,392 shares in the company, valued at approximately $466,000,536.96. This trade represents a 1.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John Kent Walker sold 23,820 shares of the firm's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $194.70, for a total value of $4,637,754.00. Following 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 quarter, insiders have sold 276,738 shares of company stock worth $59,135,475. Insiders own 12.99% of the company's stock.

About Alphabet

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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