Falcon Wealth Planning Sells 219 Shares of Alphabet Inc. $GOOG

Falcon Wealth Planning lowered its holdings in Alphabet Inc. (NASDAQ:GOOG) by 1.8% during the second quarter, HoldingsChannel.com reports. The fund owned 11,836 shares of the information services provider’s stock after selling 219 shares during the period. Falcon Wealth Planning’s holdings in Alphabet were worth $2,100,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Independence Bank of Kentucky increased its stake in Alphabet by 10.2% in the first quarter. Independence Bank of Kentucky now owns 14,907 shares of the information services provider’s stock valued at $2,329,000 after acquiring an additional 1,376 shares during the period. RDA Financial Network grew its stake in Alphabet by 5.3% during the second quarter. RDA Financial Network now owns 11,094 shares of the information services provider’s stock worth $1,968,000 after buying an additional 554 shares during the last quarter. Fermata Advisors LLC grew its stake in Alphabet by 2.7% during the first quarter. Fermata Advisors LLC now owns 9,771 shares of the information services provider’s stock worth $1,527,000 after buying an additional 259 shares during the last quarter. Oldfather Financial Services LLC bought a new stake in Alphabet during the second quarter worth about $213,000. Finally, Members Trust Co grew its stake in Alphabet by 84.7% during the first quarter. Members Trust Co now owns 4,999 shares of the information services provider’s stock worth $781,000 after buying an additional 2,292 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Insider Buying and Selling at Alphabet

In related news, 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 transaction, the director directly owned 243,400 shares in the company, valued at $45,213,984. This represents a 7.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 2,778 shares of the stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $245.00, for a total transaction of $680,610.00. Following the completion of the transaction, the chief accounting officer owned 17,293 shares in the company, 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 ninety days, insiders have sold 258,088 shares of company stock valued at $52,405,304. 12.99% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have weighed in on GOOG. The Goldman Sachs Group reaffirmed a “buy” rating and set a $220.00 price objective on shares of Alphabet in a research note on Monday, June 2nd. Cowen reaffirmed a “buy” rating on shares of Alphabet in a research note on Wednesday, July 9th. Roth Capital reaffirmed a “buy” rating on shares of Alphabet in a research note on Wednesday, July 9th. KeyCorp set a $265.00 price objective on shares of Alphabet in a research note on Wednesday, September 3rd. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Alphabet in a research note on Wednesday, July 9th. Four analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and an average target price of $230.35.

Alphabet Price Performance

Shares of GOOG stock opened at $247.18 on Friday. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $256.70. The firm’s 50 day moving average is $216.61 and its 200-day moving average is $184.39. The firm has a market capitalization of $2.99 trillion, a price-to-earnings ratio of 26.32, a PEG 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 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 net margin of 31.12% and a return on equity of 34.31%. The company had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.67 billion. During the same period in the prior year, the business earned $1.89 earnings per share. Alphabet’s quarterly revenue was up 13.8% on a year-over-year basis. Sell-side analysts forecast that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Dividend Announcement

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

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.