Venture Visionary Partners LLC Reduces Position in Alphabet Inc. $GOOG

Key Points

• Venture Visionary Partners LLC has decreased its holdings in Alphabet Inc. by 2.8%, now owning 79,922 shares valued at approximately $14.18 million.
• Despite the reduction from Venture Visionary, several other investors, including ACT Advisors LLC and Colton Groome Financial Advisors LLC, have increased their positions in Alphabet during the same quarter.
• Alphabet recently reported earnings of $2.31 per share for the quarter, exceeding analysts’ expectations, with revenue reaching $96.43 billion, a 13.8% increase from the previous year.

Venture Visionary Partners LLC decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 2.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 79,922 shares of the information services provider's stock after selling 2,334 shares during the quarter. Venture Visionary Partners LLC's holdings in Alphabet were worth $14,177,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. ACT Advisors LLC. increased its position in Alphabet by 3.5% in the 2nd 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 increased its position in Alphabet by 1.1% in the 2nd quarter. LongView Wealth Management now owns 5,126 shares of the information services provider's stock worth $909,000 after purchasing an additional 56 shares during the last quarter. Kooman & Associates increased its position in Alphabet by 1.4% in the 2nd 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 last quarter. Colton Groome Financial Advisors LLC increased its position in Alphabet by 3.4% in the 2nd 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 last quarter. Finally, NCM Capital Management LLC increased its position in Alphabet by 2.2% in the 1st 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 last quarter. Hedge funds and other institutional investors own 27.26% of the company's stock.

Alphabet Price Performance

Shares of NASDAQ:GOOG opened at $245.54 on Thursday. The business has a 50 day moving average price of $219.78 and a 200 day moving average price of $185.88. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $256.70. The company has a market cap of $2.97 trillion, a price-to-earnings ratio of 26.15, a PEG ratio of 1.64 and a beta of 1.00. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOG - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share 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 during the quarter, compared to the consensus estimate of $93.67 billion. During the same quarter in the prior 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. Research analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently announced 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 was Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.3%. Alphabet's dividend payout ratio is presently 8.95%.

Insider Activity

In other Alphabet news, Director Frances Arnold sold 103 shares of the firm's stock in a transaction that occurred on Tuesday, September 30th. The stock was sold at an average price of $243.13, for a total value of $25,042.39. Following the completion of the sale, the director owned 17,284 shares in the company, valued at approximately $4,202,258.92. This trade represents a 0.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $249.50, for a total value of $8,108,750.00. Following the completion of the sale, the chief executive officer owned 2,397,392 shares of the company's stock, valued at $598,149,304. This represents a 1.34% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 243,285 shares of company stock worth $50,994,787 over the last 90 days. Company insiders own 12.99% of the company's stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Lake Street Capital reaffirmed a "buy" rating on shares of Alphabet in a research report on Wednesday, July 9th. Scotiabank increased their price objective on Alphabet from $200.00 to $240.00 and gave the company a "sector outperform" rating in a report on Tuesday, July 22nd. JPMorgan Chase & Co. increased their price objective on Alphabet from $232.00 to $260.00 and gave the company an "overweight" rating in a report on Wednesday, September 3rd. Citizens Jmp raised Alphabet from a "hold" rating to a "strong-buy" rating in a report on Thursday, June 26th. Finally, Raymond James Financial reissued an "outperform" rating and set a $210.00 price objective (up previously from $185.00) on shares of Alphabet in a report on Thursday, July 24th. Five 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 assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $230.35.

Alphabet 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.