Northwest Capital Management Inc reduced its stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 73.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,543 shares of the information services provider's stock after selling 4,290 shares during the quarter. Northwest Capital Management Inc's holdings in Alphabet were worth $274,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in GOOG. ACT Advisors LLC. raised its holdings in Alphabet by 3.5% during the second quarter. ACT Advisors LLC. now owns 1,625 shares of the information services provider's stock valued at $288,000 after buying an additional 55 shares in the last quarter. LongView Wealth Management lifted its position in shares of Alphabet by 1.1% in the second quarter. LongView Wealth Management now owns 5,126 shares of the information services provider's stock worth $909,000 after buying an additional 56 shares during the last quarter. Kooman & Associates lifted its position in shares of Alphabet by 1.4% in the second quarter. Kooman & Associates now owns 4,127 shares of the information services provider's stock worth $732,000 after buying an additional 56 shares during the last quarter. Colton Groome Financial Advisors LLC lifted its position in shares of Alphabet by 3.4% in the second quarter. Colton Groome Financial Advisors LLC now owns 1,742 shares of the information services provider's stock worth $309,000 after buying an additional 57 shares during the last quarter. Finally, Brueske Advisory Services LLC lifted its position in shares of Alphabet by 2.7% in the second quarter. Brueske Advisory Services LLC now owns 2,194 shares of the information services provider's stock worth $389,000 after buying an additional 58 shares during the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.
Insider Transactions at Alphabet
In related news, insider John Kent Walker sold 23,820 shares of the business's stock in a transaction dated 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 transaction, the insider directly owned 42,999 shares in the company, valued at $8,371,905.30. The trade was a 35.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $249.50, for a total value of $8,108,750.00. Following the transaction, the chief executive officer owned 2,397,392 shares in the company, valued at $598,149,304. This represents a 1.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 210,872 shares of company stock valued at $46,980,865. 12.99% of the stock is currently owned by insiders.
Analyst Upgrades and Downgrades
A number of brokerages have weighed in on GOOG. Morgan Stanley boosted their price target on Alphabet from $210.00 to $270.00 and gave the stock an "overweight" rating in a research report on Thursday, October 2nd. TD Cowen boosted their price target on Alphabet from $270.00 to $280.00 and gave the stock a "buy" rating in a research report on Wednesday, October 8th. KeyCorp set a $265.00 price target on Alphabet in a research report on Wednesday, September 3rd. Hsbc Global Res raised Alphabet to a "strong-buy" rating in a research report on Tuesday, October 7th. Finally, BNP Paribas lowered Alphabet from a "strong-buy" rating to a "hold" rating in a research note on Thursday, June 26th. Six analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, Alphabet presently has an average rating of "Moderate Buy" and an average target price of $244.68.
Check Out Our Latest Stock Report on GOOG
Alphabet Trading Up 0.1%
Alphabet stock opened at $251.88 on Friday. 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 50-day simple moving average is $231.15 and its 200-day simple moving average is $192.08. The firm has a market capitalization of $3.05 trillion, a PE ratio of 26.82, a PEG ratio of 1.70 and a beta of 1.00. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $257.58.
Alphabet (NASDAQ:GOOG - Get Free Report) last issued 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 firm had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.67 billion. During the same period in the previous year, the company posted $1.89 earnings per share. The company's quarterly revenue was up 13.8% compared to the same quarter last year. Equities research analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current year.
Alphabet Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.3%. The ex-dividend date was Monday, September 8th. Alphabet's payout ratio is currently 8.95%.
About Alphabet
(
Free Report)
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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