White Pine Investment CO Has $16.15 Million Holdings in Alphabet Inc. $GOOGL

Key Points

• White Pine Investment CO decreased its stake in Alphabet Inc. by 1.5%, holding 91,647 shares worth approximately $16.15 million, making it their 2nd largest position.
• Alphabet reported quarterly earnings of $2.31 EPS, exceeding estimates, and had a revenue of $96.43 billion, significantly more than the expected $93.60 billion.
• Insider transactions revealed substantial selling, with insiders selling 276,738 shares valued at about $59.14 million in the last quarter.

White Pine Investment CO reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 1.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 91,647 shares of the information services provider's stock after selling 1,422 shares during the quarter. Alphabet comprises approximately 4.0% of White Pine Investment CO's holdings, making the stock its 2nd largest position. White Pine Investment CO's holdings in Alphabet were worth $16,151,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Oak Family Advisors LLC grew its stake in Alphabet by 11.7% during the 2nd quarter. Oak Family Advisors LLC now owns 48,421 shares of the information services provider's stock worth $8,533,000 after buying an additional 5,085 shares during the last quarter. Sterling Investment Advisors Ltd. grew its stake in Alphabet by 0.3% during the 2nd quarter. Sterling Investment Advisors Ltd. now owns 58,711 shares of the information services provider's stock worth $10,347,000 after buying an additional 176 shares during the last quarter. Northwest Wealth Management LLC grew its stake in Alphabet by 22.0% during the 2nd quarter. Northwest Wealth Management LLC now owns 3,659 shares of the information services provider's stock worth $645,000 after buying an additional 659 shares during the last quarter. Raleigh Capital Management Inc. grew its stake in Alphabet by 27.7% during the 2nd quarter. Raleigh Capital Management Inc. now owns 15,816 shares of the information services provider's stock worth $2,787,000 after buying an additional 3,430 shares during the last quarter. Finally, LexAurum Advisors LLC grew its stake in Alphabet by 1.6% during the 2nd quarter. LexAurum Advisors LLC now owns 9,539 shares of the information services provider's stock worth $1,681,000 after buying an additional 152 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors.

Alphabet Price Performance

Shares of Alphabet stock opened at $245.35 on Monday. 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's 50-day moving average price is $221.25 and its two-hundred day moving average price is $186.12. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $256.00. The stock has a market cap of $2.97 trillion, a PE ratio of 26.13, a price-to-earnings-growth ratio of 1.66 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.16. The company had revenue of $96.43 billion for the quarter, compared to analysts' expectations of $93.60 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. As a group, sell-side analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were paid a $0.21 dividend. The ex-dividend date of this dividend was Monday, September 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. Alphabet's payout ratio is currently 8.95%.

Insider Transactions at Alphabet

In related news, insider John Kent Walker sold 23,820 shares of the stock in a transaction 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 completion of the transaction, the insider owned 42,999 shares in the company, valued at $8,371,905.30. This trade represents a 35.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Kavitark Ram Shriram sold 18,566 shares of the stock in a transaction on Friday, July 18th. The shares were sold at an average price of $185.76, for a total value of $3,448,820.16. Following the completion of the transaction, the director owned 243,400 shares of the company's stock, valued at $45,213,984. This trade represents a 7.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 276,738 shares of company stock valued at $59,135,475 in the last quarter. Insiders own 11.55% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on GOOGL. Mizuho set a $295.00 price objective on Alphabet and gave the stock an "outperform" rating in a research note on Monday, September 29th. Sanford C. Bernstein increased their price target on Alphabet from $185.00 to $195.00 and gave the stock a "market perform" rating in a research note on Tuesday, July 22nd. KeyCorp increased their price target on Alphabet from $230.00 to $265.00 and gave the stock an "overweight" rating in a research note on Wednesday, September 3rd. Wedbush increased their price target on Alphabet from $225.00 to $245.00 and gave the stock an "outperform" rating in a research note on Wednesday, September 3rd. Finally, JMP Securities increased their price target on Alphabet from $250.00 to $290.00 and gave the stock a "market outperform" rating in a research note on Friday, September 19th. Four analysts have rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat, Alphabet presently has an average rating of "Moderate Buy" and an average price target of $240.76.

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.

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