Alphabet Inc. $GOOG Shares Sold by Alhambra Investment Management LLC

Alhambra Investment Management LLC cut its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,379 shares of the information services provider’s stock after selling 190 shares during the period. Alphabet makes up 1.3% of Alhambra Investment Management LLC’s holdings, making the stock its 22nd biggest holding. Alhambra Investment Management LLC’s holdings in Alphabet were worth $2,551,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in GOOG. Buttonwood Financial Advisors Inc. increased its stake in Alphabet by 5.9% during the 2nd quarter. Buttonwood Financial Advisors Inc. now owns 3,661 shares of the information services provider’s stock worth $649,000 after buying an additional 203 shares during the period. Northside Capital Management LLC increased its stake in Alphabet by 118.6% during the 2nd quarter. Northside Capital Management LLC now owns 33,697 shares of the information services provider’s stock worth $5,978,000 after buying an additional 18,280 shares during the period. IMS Capital Management purchased a new stake in Alphabet during the 2nd quarter worth approximately $6,049,000. Graypoint LLC increased its stake in Alphabet by 1.4% during the 2nd quarter. Graypoint LLC now owns 53,376 shares of the information services provider’s stock worth $9,468,000 after buying an additional 746 shares during the period. Finally, James J. Burns & Company LLC increased its stake in Alphabet by 1.1% during the 2nd quarter. James J. Burns & Company LLC now owns 14,259 shares of the information services provider’s stock worth $2,529,000 after buying an additional 155 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insider Activity at Alphabet

In other news, Director Kavitark Ram Shriram sold 18,566 shares of the company’s 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 in the company, valued at approximately $45,213,984. This represents a 7.09% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $229.73, for a total transaction of $7,466,225.00. Following the completion of the transaction, the chief executive officer owned 2,429,892 shares of the company’s stock, valued at approximately $558,219,089.16. The trade was a 1.32% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 258,088 shares of company stock worth $52,405,304. Corporate insiders own 12.99% of the company’s stock.

Alphabet Trading Down 1.8%

NASDAQ GOOG opened at $247.83 on Thursday. 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 Inc. has a 52 week low of $142.66 and a 52 week high of $256.70. The stock has a market capitalization of $3.00 trillion, a PE ratio of 26.39, a price-to-earnings-growth ratio of 1.70 and a beta of 1.01. The firm has a 50 day moving average of $214.14 and a two-hundred day moving average of $183.18.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping the consensus estimate of $2.12 by $0.19. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The company had revenue of $96.43 billion during the quarter, compared to analysts’ expectations of $93.67 billion. During the same quarter in the previous year, the business posted $1.89 EPS. The firm’s revenue was up 13.8% on a year-over-year basis. As a group, research analysts expect that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on GOOG. Phillip Securities downgraded shares of Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research note on Monday, September 8th. KeyCorp set a $265.00 target price on shares of Alphabet in a research note on Wednesday, September 3rd. Robert W. Baird upped their target price on shares of Alphabet from $215.00 to $275.00 and gave the stock an “outperform” rating in a research note on Monday. Piper Sandler reaffirmed a “neutral” rating on shares of Alphabet in a research note on Wednesday, July 9th. Finally, Lake Street Capital reiterated a “buy” rating on shares of Alphabet in a report on Wednesday, July 9th. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, five have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and a consensus 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.