Seed Wealth Management Inc. Reduces Stock Position in Alphabet Inc. $GOOG

Seed Wealth Management Inc. lessened its holdings in Alphabet Inc. (NASDAQ:GOOG) by 1.0% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,860 shares of the information services provider’s stock after selling 60 shares during the quarter. Seed Wealth Management Inc.’s holdings in Alphabet were worth $1,040,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in Alphabet by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider’s stock worth $64,299,725,000 after acquiring an additional 9,687,855 shares in the last quarter. Kingstone Capital Partners Texas LLC boosted its holdings in shares of Alphabet by 580,897.4% in 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 purchasing an additional 135,064,454 shares during the period. JPMorgan Chase & Co. grew its stake in Alphabet by 9.9% in the first quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider’s stock worth $15,971,861,000 after purchasing an additional 9,243,959 shares in the last quarter. Deutsche Bank AG grew its stake in Alphabet by 5.4% in the first quarter. Deutsche Bank AG now owns 21,345,784 shares of the information services provider’s stock worth $3,334,852,000 after purchasing an additional 1,098,996 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in Alphabet by 2.2% during the 1st quarter. Invesco Ltd. now owns 20,380,073 shares of the information services provider’s stock worth $3,183,979,000 after purchasing an additional 440,526 shares during the period. 27.26% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

GOOG has been the subject of several research reports. The Goldman Sachs Group reiterated a “buy” rating and issued a $220.00 target price on shares of Alphabet in a report on Monday, June 2nd. Roth Capital restated a “buy” rating on shares of Alphabet in a report on Wednesday, July 9th. Pivotal Research increased their target price on shares of Alphabet from $245.00 to $300.00 and gave the stock a “buy” rating in a report on Wednesday, September 3rd. JPMorgan Chase & Co. boosted their price target on shares of Alphabet from $232.00 to $260.00 and gave the company an “overweight” rating in a report on Wednesday, September 3rd. Finally, Lake Street Capital reaffirmed a “buy” rating on shares of Alphabet in a research report on Wednesday, July 9th. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $230.35.

Insider Activity

In related news, insider John Kent Walker sold 23,820 shares of the company’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 sale, the insider owned 42,999 shares in the company, valued at $8,371,905.30. This represents a 35.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 2,778 shares of the firm’s stock in a transaction that occurred on 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 $4,236,785. This represents a 13.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 258,088 shares of company stock valued at $52,405,304. 12.99% of the stock is owned by insiders.

Alphabet Trading Down 0.9%

NASDAQ:GOOG opened at $252.88 on Tuesday. The company has a market capitalization of $3.06 trillion, a P/E ratio of 26.93, a PEG ratio of 1.72 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 Inc. has a 12 month low of $142.66 and a 12 month high of $256.70. The firm has a fifty day simple moving average of $211.48 and a 200-day simple moving average of $182.24.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $93.67 billion. During the same quarter last year, the business posted $1.89 EPS. The firm’s quarterly revenue was up 13.8% on a year-over-year basis. On average, 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 announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were issued 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 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.