Sound Income Strategies LLC trimmed its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 15.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,610 shares of the information services provider's stock after selling 1,043 shares during the period. Sound Income Strategies LLC's holdings in Alphabet were worth $995,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in Alphabet by 2.4% during the first 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 in the last quarter. Kingstone Capital Partners Texas LLC grew its stake in Alphabet by 580,897.4% during the second 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 in the last quarter. JPMorgan Chase & Co. grew its stake in Alphabet by 9.9% during the first 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 in the last quarter. Deutsche Bank AG grew its stake in Alphabet by 5.4% during the first 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 in the last quarter. Finally, Invesco Ltd. grew its stake in Alphabet by 2.2% during the first 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 in the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.
Insider Activity
In related news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $184.38, for a total transaction of $5,992,350.00. Following the completion of the transaction, the chief executive officer directly owned 2,527,392 shares of the company's stock, valued at approximately $466,000,536.96. The trade was a 1.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Amie Thuener O'toole sold 2,778 shares of Alphabet stock in a transaction dated 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 of the company's stock, valued at approximately $4,236,785. This represents a 13.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 225,469 shares of company stock worth $46,586,752 in the last 90 days. Company insiders own 12.99% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities analysts recently weighed in on GOOG shares. Oppenheimer reaffirmed an "outperform" rating and set a $270.00 target price (up from $235.00) on shares of Alphabet in a research note on Wednesday, September 3rd. Citizens Jmp raised shares of Alphabet from a "hold" rating to a "strong-buy" rating in a research note on Thursday, June 26th. Phillip Securities cut shares of Alphabet from a "strong-buy" rating to a "moderate buy" rating in a research note on Monday, September 8th. Robert W. Baird lifted their price objective on shares of Alphabet from $215.00 to $275.00 and gave the stock an "outperform" rating in a research note on Monday, September 22nd. Finally, Wells Fargo & Company reissued an "equal weight" rating on shares of Alphabet in a research note on Wednesday, July 9th. Four analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, five have given a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $230.35.
Check Out Our Latest Analysis on GOOG
Alphabet Price Performance
GOOG stock opened at $243.55 on Wednesday. Alphabet Inc. has a 12 month low of $142.66 and a 12 month 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 company has a 50-day moving average price of $218.70 and a 200 day moving average price of $185.47. The stock has a market cap of $2.95 trillion, a PE ratio of 25.94, a P/E/G ratio of 1.65 and a beta of 1.01.
Alphabet (NASDAQ:GOOG - Get Free Report) last released its quarterly 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. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The firm had revenue of $96.43 billion during the quarter, compared to analysts' expectations of $93.67 billion. During the same period in the previous year, the company earned $1.89 EPS. The firm's revenue for the quarter was up 13.8% compared to the same quarter last year. Equities research analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current year.
Alphabet Dividend Announcement
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. 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 payout ratio is currently 8.95%.
Alphabet Profile
(
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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