Wealth Advisory Solutions LLC Sells 15,115 Shares of Alphabet Inc. $GOOG

Key Points

• Wealth Advisory Solutions LLC has reduced its stake in Alphabet Inc. by 81%, selling 15,115 shares and currently holding 3,539 shares valued at approximately $628,000.
• Alphabet recently posted a quarterly EPS of $2.31, beating estimates, while revenue reached $96.43 billion, reflecting a year-over-year increase of 13.8%.
• The company declared a quarterly dividend of $0.21, translating to an annualized yield of 0.3%, paid to investors of record on September 8th.

Wealth Advisory Solutions LLC lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 81.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,539 shares of the information services provider's stock after selling 15,115 shares during the period. Wealth Advisory Solutions LLC's holdings in Alphabet were worth $628,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the company. Principia Wealth Advisory LLC increased its position in Alphabet by 111.8% in the first quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock worth $26,000 after buying an additional 85 shares during the last quarter. MorganRosel Wealth Management LLC bought a new position in shares of Alphabet during the 1st quarter worth $26,000. Goodman Advisory Group LLC bought a new position in shares of Alphabet during the 1st quarter worth $32,000. Greykasell Wealth Strategies Inc. purchased a new stake in Alphabet in the 1st quarter worth about $32,000. Finally, Elevate Wealth Advisory Inc. bought a new stake in Alphabet in the 1st quarter valued at about $34,000. Hedge funds and other institutional investors own 27.26% of the company's stock.

Analysts Set New Price Targets

GOOG has been the subject of a number of research reports. The Goldman Sachs Group reiterated a "buy" rating and set a $220.00 target price on shares of Alphabet in a research report on Monday, June 2nd. Roth Capital reaffirmed a "buy" rating on shares of Alphabet in a report on Wednesday, July 9th. Piper Sandler reiterated a "neutral" rating on shares of Alphabet in a research note on Wednesday, July 9th. Oppenheimer reaffirmed an "outperform" rating and issued a $270.00 price target (up from $235.00) on shares of Alphabet in a report on Wednesday, September 3rd. Finally, Lake Street Capital reiterated a "buy" rating on shares of Alphabet in a research report on Wednesday, July 9th. Four research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, five have issued a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $230.35.

Insiders Place Their Bets

In related news, Director Kavitark Ram Shriram sold 15,000 shares of the stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $185.76, for a total transaction of $2,786,400.00. Following the completion of the sale, the director directly owned 240,400 shares in the company, valued at $44,656,704. This represents a 5.87% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider John Kent Walker sold 23,820 shares of the firm's stock in a transaction that occurred on 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 owned 42,999 shares in the company, valued at approximately $8,371,905.30. The trade was a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 258,088 shares of company stock valued at $52,405,304 over the last three months. 12.99% of the stock is currently owned by company insiders.

Alphabet Stock Performance

NASDAQ:GOOG opened at $252.34 on Wednesday. The company has a market capitalization of $3.05 trillion, a price-to-earnings ratio of 26.87, a PEG ratio of 1.71 and a beta of 1.01. The business has a 50 day moving average of $212.86 and a 200 day moving average of $182.73. 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 Inc. has a 1-year low of $142.66 and a 1-year high of $256.70.

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 business had revenue of $96.43 billion for the quarter, compared to analysts' expectations of $93.67 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The business's quarterly revenue was up 13.8% on a year-over-year basis. During the same period last year, the business earned $1.89 earnings per share. On average, sell-side analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date was Monday, September 8th. Alphabet's dividend payout ratio (DPR) is presently 8.95%.

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.

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