Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Nottingham Advisors Inc.

Key Points

• Nottingham Advisors Inc. has reduced its stake in Alphabet Inc. by 24.8%, now holding 6,624 shares worth approximately $1,035,000.
• Alphabet reported quarterly earnings of $2.31 EPS, exceeding analysts' expectations, with revenues of $96.43 billion, up 13.8% year-over-year.
• The company announced a quarterly dividend of $0.21 per share, with a record date of September 8th and an annualized yield of 0.43%.

Nottingham Advisors Inc. trimmed its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 24.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,624 shares of the information services provider's stock after selling 2,187 shares during the period. Nottingham Advisors Inc.'s holdings in Alphabet were worth $1,035,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. ARQ Wealth Advisors LLC boosted its position in shares of Alphabet by 39.3% during the 4th quarter. ARQ Wealth Advisors LLC now owns 4,964 shares of the information services provider's stock worth $945,000 after purchasing an additional 1,400 shares in the last quarter. Independence Bank of Kentucky boosted its position in shares of Alphabet by 10.2% during the 1st quarter. Independence Bank of Kentucky now owns 14,907 shares of the information services provider's stock worth $2,329,000 after purchasing an additional 1,376 shares in the last quarter. Harvest Investment Services LLC boosted its position in shares of Alphabet by 3.3% during the 4th quarter. Harvest Investment Services LLC now owns 4,329 shares of the information services provider's stock worth $824,000 after purchasing an additional 138 shares in the last quarter. Fermata Advisors LLC boosted its position in shares of Alphabet by 2.7% during the 1st quarter. Fermata Advisors LLC now owns 9,771 shares of the information services provider's stock worth $1,527,000 after purchasing an additional 259 shares in the last quarter. Finally, jvl associates llc boosted its position in shares of Alphabet by 3.5% during the 1st quarter. jvl associates llc now owns 10,055 shares of the information services provider's stock worth $1,571,000 after purchasing an additional 343 shares in the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity 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 stock was sold at an average price of $178.52, for a total transaction of $5,801,900.00. Following the transaction, the chief executive officer owned 2,559,892 shares of the company's stock, valued at $456,991,919.84. This trade represents a 1.25% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Kavitark Ram Shriram sold 18,566 shares of the firm's stock in a transaction on Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $3,448,820.16. Following the transaction, the director owned 243,400 shares in the company, valued at $45,213,984. This trade represents a 7.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 249,298 shares of company stock valued at $43,505,967. Company insiders own 12.99% of the company's stock.

Analyst Upgrades and Downgrades

GOOG has been the subject of several research reports. Scotiabank lifted their price target on Alphabet from $200.00 to $240.00 and gave the stock a "sector outperform" rating in a research note on Tuesday, July 22nd. Pivotal Research lifted their price target on Alphabet from $225.00 to $245.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. UBS Group lifted their price target on Alphabet from $186.00 to $192.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 16th. BNP Paribas downgraded Alphabet from a "strong-buy" rating to a "hold" rating in a research note on Thursday, June 26th. Finally, Wells Fargo & Company reissued an "equal weight" rating on shares of Alphabet in a research note on Wednesday, July 9th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have assigned a buy rating and five have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $215.19.

Alphabet Stock Down 2.4%

NASDAQ GOOG traded down $4.65 on Thursday, reaching $192.80. The company had a trading volume of 18,511,402 shares, compared to its average volume of 24,281,467. The firm has a market capitalization of $2.34 trillion, a PE ratio of 20.53, a P/E/G ratio of 1.30 and a beta of 1.01. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $208.70. The firm has a 50-day moving average of $178.54 and a 200-day moving average of $174.69. 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 (NASDAQ:GOOG - Get Free Report) last released its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating the consensus estimate of $2.12 by $0.19. The company had revenue of $96.43 billion during the quarter, compared to analysts' expectations of $93.67 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. The business's revenue was up 13.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.89 EPS. On average, equities research analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.44%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet's dividend payout ratio (DPR) is currently 8.95%.

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.