MOKAN Wealth Management Inc. Sells 3,385 Shares of Alphabet Inc. $GOOG

Key Points

• MOKAN Wealth Management Inc. reduced its stake in Alphabet Inc. by 15.9%, selling 3,385 shares, which now accounts for approximately 1.8% of its holdings.
• Alphabet Inc. reported a quarterly EPS of $2.31, exceeding analysts' expectations, with a revenue of $96.43 billion, an increase of 13.8% compared to the previous year.
• The company recently declared a quarterly dividend of $0.21 per share, representing an annualized yield of 0.3%.

MOKAN Wealth Management Inc. lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 15.9% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,845 shares of the information services provider's stock after selling 3,385 shares during the period. Alphabet accounts for approximately 1.8% of MOKAN Wealth Management Inc.'s holdings, making the stock its 18th biggest position. MOKAN Wealth Management Inc.'s holdings in Alphabet were worth $3,164,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of Alphabet by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider's stock valued at $64,299,725,000 after acquiring an additional 9,687,855 shares during the last quarter. Kingstone Capital Partners Texas LLC lifted its holdings in shares of Alphabet by 580,897.4% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider's stock valued at $23,963,208,000 after acquiring an additional 135,064,454 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Alphabet by 9.9% in the 1st quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider's stock valued at $15,971,861,000 after acquiring an additional 9,243,959 shares during the last quarter. Deutsche Bank AG lifted its holdings in shares of Alphabet by 5.4% in the 1st quarter. Deutsche Bank AG now owns 21,345,784 shares of the information services provider's stock valued at $3,334,852,000 after acquiring an additional 1,098,996 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Alphabet by 2.2% in the 1st quarter. Invesco Ltd. now owns 20,380,073 shares of the information services provider's stock valued at $3,183,979,000 after acquiring an additional 440,526 shares during the last quarter. Institutional investors own 27.26% of the company's stock.

Alphabet Stock Performance

Alphabet stock opened at $251.88 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $257.58. The firm has a market capitalization of $3.05 trillion, a P/E ratio of 26.82, a price-to-earnings-growth ratio of 1.70 and a beta of 1.00. The company's 50-day moving average is $231.15 and its 200 day moving average is $192.08.

Alphabet (NASDAQ:GOOG - Get Free Report) last issued its 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 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 company's quarterly revenue was up 13.8% compared to the same quarter last year. During the same period last year, the company posted $1.89 earnings per share. Research analysts forecast that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was 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 8.95%.

Insider Activity at Alphabet

In other news, Director John L. Hennessy sold 1,000 shares of the firm's stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $200.00, for a total transaction of $200,000.00. Following the transaction, the director directly owned 6,916 shares of the company's stock, valued at approximately $1,383,200. This trade represents a 12.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Amie Thuener O'toole sold 2,778 shares of the firm's stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $245.00, for a total transaction of $680,610.00. Following the transaction, the chief accounting officer directly owned 17,293 shares in the company, valued at approximately $4,236,785. This trade represents a 13.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 210,872 shares of company stock valued at $46,980,865. 12.99% of the stock is owned by insiders.

Wall Street Analyst Weigh In

GOOG has been the subject of a number of analyst reports. Raymond James Financial reaffirmed an "outperform" rating and issued a $210.00 price target (up previously from $185.00) on shares of Alphabet in a report on Thursday, July 24th. Barclays reaffirmed a "buy" rating on shares of Alphabet in a report on Wednesday, July 9th. Jefferies Financial Group increased their price target on shares of Alphabet from $230.00 to $285.00 and gave the company a "buy" rating in a report on Thursday, October 2nd. JPMorgan Chase & Co. increased their price objective on shares of Alphabet from $232.00 to $260.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 3rd. Finally, Mizuho raised shares of Alphabet to a "strong-buy" rating in a research report on Monday, September 29th. Six research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $244.68.

Alphabet Company 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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