Trinity Financial Advisors LLC Has $1.01 Million Stock Holdings in Alphabet Inc. $GOOG

Trinity Financial Advisors LLC cut its stake in Alphabet Inc. (NASDAQ:GOOG) by 1.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,708 shares of the information services provider’s stock after selling 110 shares during the period. Trinity Financial Advisors LLC’s holdings in Alphabet were worth $1,012,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in GOOG. TrueWealth Advisors LLC acquired a new position in shares of Alphabet during the 2nd quarter worth $229,000. McLean Asset Management Corp raised its holdings in shares of Alphabet by 9.8% during the 2nd quarter. McLean Asset Management Corp now owns 6,171 shares of the information services provider’s stock worth $1,109,000 after buying an additional 550 shares in the last quarter. Fiduciary Financial Group LLC raised its holdings in shares of Alphabet by 6.3% during the 2nd quarter. Fiduciary Financial Group LLC now owns 15,670 shares of the information services provider’s stock worth $2,772,000 after buying an additional 935 shares in the last quarter. Legacy Wealth Management LLC MS raised its holdings in shares of Alphabet by 2.2% during the 2nd quarter. Legacy Wealth Management LLC MS now owns 8,812 shares of the information services provider’s stock worth $1,563,000 after buying an additional 189 shares in the last quarter. Finally, Park National Corp OH raised its holdings in shares of Alphabet by 2.6% during the 2nd quarter. Park National Corp OH now owns 9,448 shares of the information services provider’s stock worth $1,676,000 after buying an additional 240 shares in the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $199.92, for a total value of $6,497,400.00. Following the completion of the sale, the chief executive officer directly owned 2,462,392 shares of the company’s stock, valued at $492,281,408.64. This represents a 1.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Kavitark Ram Shriram sold 18,566 shares of the stock in a transaction that occurred 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 sale, the director directly owned 243,400 shares of the company’s stock, valued at $45,213,984. The trade was a 7.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 254,710 shares of company stock valued at $49,208,380 in the last 90 days. Corporate insiders own 12.99% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on GOOG. JPMorgan Chase & Co. boosted their price target on Alphabet from $232.00 to $260.00 and gave the stock an “overweight” rating in a report on Wednesday, September 3rd. UBS Group boosted their price objective on Alphabet from $186.00 to $192.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 16th. BNP Paribas lowered Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, June 26th. Scotiabank boosted their price objective on Alphabet from $200.00 to $240.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, July 22nd. Finally, Piper Sandler restated a “neutral” rating on shares of Alphabet in a research report on Wednesday, July 9th. Four investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $227.56.

Alphabet Trading Up 0.2%

NASDAQ GOOG opened at $241.38 on Friday. The business’s 50-day moving average price is $202.67 and its two-hundred day moving average price is $178.86. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $242.57. The firm has a market capitalization of $2.92 trillion, a PE ratio of 25.71, a price-to-earnings-growth ratio of 1.62 and a beta of 1.01. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS 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 company had revenue of $96.43 billion for the quarter, compared to analyst estimates 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. On average, analysts expect that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet’s dividend payout ratio is 8.95%.

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.