Spinnaker Investment Group LLC Has $362,000 Stock Holdings in Alphabet Inc. $GOOG

Spinnaker Investment Group LLC trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 21.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,041 shares of the information services provider’s stock after selling 547 shares during the period. Spinnaker Investment Group LLC’s holdings in Alphabet were worth $362,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. ACT Advisors LLC. boosted its stake in shares of Alphabet by 3.5% during the 2nd quarter. ACT Advisors LLC. now owns 1,625 shares of the information services provider’s stock worth $288,000 after buying an additional 55 shares during the last quarter. LongView Wealth Management raised its holdings in shares of Alphabet by 1.1% in the 2nd quarter. LongView Wealth Management now owns 5,126 shares of the information services provider’s stock valued at $909,000 after purchasing an additional 56 shares during the period. Kooman & Associates raised its holdings in shares of Alphabet by 1.4% in the 2nd quarter. Kooman & Associates now owns 4,127 shares of the information services provider’s stock valued at $732,000 after purchasing an additional 56 shares during the period. Colton Groome Financial Advisors LLC raised its holdings in shares of Alphabet by 3.4% in the 2nd quarter. Colton Groome Financial Advisors LLC now owns 1,742 shares of the information services provider’s stock valued at $309,000 after purchasing an additional 57 shares during the period. Finally, NCM Capital Management LLC raised its holdings in shares of Alphabet by 2.2% in the 1st quarter. NCM Capital Management LLC now owns 2,802 shares of the information services provider’s stock valued at $438,000 after purchasing an additional 60 shares during the period. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GOOG has been the topic of a number of research analyst reports. Scotiabank upped their target price on shares of Alphabet from $200.00 to $240.00 and gave the company a “sector outperform” rating in a report on Tuesday, July 22nd. Oppenheimer reaffirmed an “outperform” rating and issued a $270.00 target price (up from $235.00) on shares of Alphabet in a report on Wednesday, September 3rd. JPMorgan Chase & Co. upped their target price on shares of Alphabet from $232.00 to $260.00 and gave the company an “overweight” rating in a report on Wednesday, September 3rd. Robert W. Baird increased their price target on shares of Alphabet from $215.00 to $275.00 and gave the company an “outperform” rating in a report on Monday, September 22nd. Finally, Citizens Jmp raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a report on Thursday, June 26th. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, five have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $230.35.

Alphabet Stock Up 0.2%

Shares of GOOG opened at $247.18 on Friday. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $256.70. The firm’s 50 day moving average is $216.61 and its 200-day moving average is $184.39. The stock has a market capitalization of $2.99 trillion, a PE ratio of 26.32, a P/E/G 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 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 for the quarter, compared to analysts’ expectations of $93.67 billion. During the same period last year, the firm earned $1.89 earnings per share. The business’s revenue for the quarter was up 13.8% on a year-over-year basis. Equities research analysts forecast that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders 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 annualized dividend and a dividend yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is currently 8.95%.

Insider Buying and Selling at Alphabet

In related news, Director Kavitark Ram Shriram sold 18,566 shares of Alphabet 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 of the company’s stock, valued at $45,213,984. This trade represents a 7.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred 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 directly owned 2,429,892 shares in the company, valued at $558,219,089.16. This trade represents a 1.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 258,088 shares of company stock valued at $52,405,304 over the last ninety days. Company insiders own 12.99% of the company’s stock.

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.