A. D. Beadell Investment Counsel Inc. Lowers Position in Alphabet Inc. $GOOG

A. D. Beadell Investment Counsel Inc. cut its stake in Alphabet Inc. (NASDAQ:GOOG) by 10.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,575 shares of the information services provider’s stock after selling 175 shares during the quarter. A. D. Beadell Investment Counsel Inc.’s holdings in Alphabet were worth $279,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of GOOG. Principia Wealth Advisory LLC raised its stake in shares of 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 purchasing an additional 85 shares during the last quarter. MorganRosel Wealth Management LLC purchased a new stake in shares of Alphabet in the first quarter worth approximately $26,000. Goodman Advisory Group LLC purchased a new stake in shares of Alphabet in the first quarter worth approximately $32,000. Greykasell Wealth Strategies Inc. purchased a new stake in shares of Alphabet in the first quarter worth approximately $32,000. Finally, Elevate Wealth Advisory Inc. purchased a new stake in shares of Alphabet in the first quarter worth approximately $34,000. 27.26% of the stock is owned by hedge funds and other institutional investors.

Alphabet Price Performance

Shares of NASDAQ GOOG opened at $247.18 on Friday. The stock has a fifty day simple moving average of $216.61 and a two-hundred day simple moving average of $184.39. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $256.70. The firm has a market cap of $2.99 trillion, a price-to-earnings ratio of 26.32, a price-to-earnings-growth ratio of 1.67 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 quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share 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 business had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.67 billion. During the same period in the prior year, the company earned $1.89 earnings per share. Alphabet’s revenue was up 13.8% compared to the same quarter last year. Analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Announces Dividend

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

Insider Buying and Selling

In other news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $229.73, for a total value of $7,466,225.00. Following the completion of the transaction, the chief executive officer directly owned 2,429,892 shares of the company’s stock, valued at $558,219,089.16. This trade represents a 1.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 2,778 shares of the firm’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $245.00, for a total value of $680,610.00. Following the completion of the transaction, the chief accounting officer directly owned 17,293 shares of the company’s stock, valued at $4,236,785. The trade was a 13.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 258,088 shares of company stock valued at $52,405,304 over the last three months. Insiders own 12.99% of the company’s stock.

Analysts Set New Price Targets

GOOG has been the subject of several recent analyst reports. Roth Capital reaffirmed a “buy” rating on shares of Alphabet in a report on Wednesday, July 9th. BNP Paribas lowered Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, June 26th. Phillip Securities lowered Alphabet from a “strong-buy” rating to a “moderate buy” rating in a report on Monday, September 8th. Lake Street Capital reaffirmed a “buy” rating on shares of Alphabet in a report on Wednesday, July 9th. Finally, KeyCorp set a $265.00 target price on Alphabet in a report on Wednesday, September 3rd. Four investment 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 issued a Sell rating to the company. According to MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and an average price target of $230.35.

Alphabet Company 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.