Sfm LLC Sells 2,085 Shares of Alphabet Inc. $GOOG

Key Points

• Sfm LLC reduced its stake in Alphabet Inc. by 19.4%, selling 2,085 shares during the 2nd quarter, now holding 8,684 shares worth $1,541,000.
• Alphabet's stock declined 1.1%, trading at $244.36, with a market cap of $2.96 trillion and a price-to-earnings ratio of 26.02.
• The company recently announced a quarterly dividend of $0.21 per share, signifying a dividend yield of 0.3% and a payout ratio of 8.95%.

Sfm LLC lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 19.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,684 shares of the information services provider's stock after selling 2,085 shares during the quarter. Alphabet accounts for about 1.0% of Sfm LLC's investment portfolio, making the stock its 24th largest position. Sfm LLC's holdings in Alphabet were worth $1,541,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also modified their holdings of the company. ACT Advisors LLC. grew its holdings in shares of Alphabet by 3.5% during the second quarter. ACT Advisors LLC. now owns 1,625 shares of the information services provider's stock worth $288,000 after purchasing an additional 55 shares during the last quarter. LongView Wealth Management raised its position in shares of Alphabet by 1.1% during the second quarter. LongView Wealth Management now owns 5,126 shares of the information services provider's stock worth $909,000 after acquiring an additional 56 shares during the last quarter. Kooman & Associates grew its stake in shares of Alphabet by 1.4% during the second quarter. Kooman & Associates now owns 4,127 shares of the information services provider's stock worth $732,000 after purchasing an additional 56 shares during the period. Colton Groome Financial Advisors LLC grew its stake in shares of Alphabet by 3.4% during the second quarter. Colton Groome Financial Advisors LLC now owns 1,742 shares of the information services provider's stock worth $309,000 after purchasing an additional 57 shares during the period. Finally, NCM Capital Management LLC grew its stake in shares of Alphabet by 2.2% during the first quarter. NCM Capital Management LLC now owns 2,802 shares of the information services provider's stock worth $438,000 after purchasing an additional 60 shares during the period. Institutional investors own 27.26% of the company's stock.

Alphabet Stock Down 1.1%

NASDAQ:GOOG opened at $244.36 on Tuesday. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $256.70. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The stock has a market cap of $2.96 trillion, a price-to-earnings ratio of 26.02, a PEG ratio of 1.67 and a beta of 1.01. The stock has a 50-day moving average price of $217.67 and a two-hundred day moving average price of $185.06.

Alphabet (NASDAQ:GOOG - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating analysts' consensus estimates of $2.12 by $0.19. The company had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.67 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The company's quarterly revenue was up 13.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.89 earnings per share. As a group, equities analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently disclosed 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. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, September 8th. Alphabet's dividend payout ratio is currently 8.95%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on GOOG shares. Pivotal Research lifted their price objective on Alphabet from $245.00 to $300.00 and gave the stock a "buy" rating in a research note on Wednesday, September 3rd. Wells Fargo & Company reaffirmed an "equal weight" rating on shares of Alphabet in a research note on Wednesday, July 9th. UBS Group lifted their price objective on Alphabet from $186.00 to $192.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 16th. Lake Street Capital reaffirmed a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. Finally, Oppenheimer reaffirmed an "outperform" rating and set a $270.00 price objective (up from $235.00) on shares of Alphabet in a research note on Wednesday, September 3rd. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $230.35.

Insider Transactions at Alphabet

In other news, Director Kavitark Ram Shriram sold 18,566 shares of the company's stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the completion of the transaction, the director directly owned 243,400 shares of the company's stock, valued at $45,213,984. This represents a 7.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John Kent Walker sold 23,820 shares of the company'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 directly owned 42,999 shares of the company's stock, 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 sold 257,866 shares of company stock valued at $52,363,610 over the last three months. 12.99% of the stock is currently owned by corporate insiders.

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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