Barry Investment Advisors LLC Cuts Position in Alphabet Inc. $GOOG

Barry Investment Advisors LLC cut its stake in Alphabet Inc. (NASDAQ:GOOG) by 6.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,680 shares of the information services provider’s stock after selling 107 shares during the period. Barry Investment Advisors LLC’s holdings in Alphabet were worth $298,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GOOG. Brighton Jones LLC grew its position in Alphabet by 5.6% in the fourth quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider’s stock worth $22,901,000 after acquiring an additional 6,410 shares in the last quarter. Revisor Wealth Management LLC boosted its position in Alphabet by 107.9% during the first quarter. Revisor Wealth Management LLC now owns 3,659 shares of the information services provider’s stock valued at $572,000 after buying an additional 1,899 shares during the period. Mid American Wealth Advisory Group Inc. purchased a new stake in Alphabet during the first quarter valued at about $276,000. Fiduciary Alliance LLC boosted its position in Alphabet by 0.4% during the first quarter. Fiduciary Alliance LLC now owns 32,831 shares of the information services provider’s stock valued at $5,129,000 after buying an additional 132 shares during the period. Finally, NBC Securities Inc. boosted its position in Alphabet by 100,083.9% during the first quarter. NBC Securities Inc. now owns 31,057 shares of the information services provider’s stock valued at $4,852,000 after buying an additional 31,026 shares during the period. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director John L. Hennessy sold 600 shares of the stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $249.44, for a total transaction of $149,664.00. Following the sale, the director owned 5,716 shares in the company, valued at $1,425,799.04. This represents a 9.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Kavitark Ram Shriram sold 15,000 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 transaction of $2,786,400.00. Following the sale, the director owned 240,400 shares in the company, valued at approximately $44,656,704. The trade was a 5.87% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 257,866 shares of company stock valued at $52,363,610. Company insiders own 12.99% of the company’s stock.

Alphabet Price Performance

GOOG stock opened at $244.36 on Tuesday. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $256.70. The firm has a 50-day moving average of $217.67 and a 200 day moving average of $185.06. The company has a market cap of $2.96 trillion, a P/E ratio of 26.02, a PEG ratio of 1.67 and a beta of 1.01. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating 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 business had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.67 billion. During the same quarter 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. On average, sell-side analysts forecast that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were paid 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 dividend payout ratio (DPR) is currently 8.95%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. UBS Group upped their price target on shares of Alphabet from $186.00 to $192.00 and gave the company a “neutral” rating in a research report on Wednesday, July 16th. Lake Street Capital restated a “buy” rating on shares of Alphabet in a research report on Wednesday, July 9th. Citizens Jmp upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Thursday, June 26th. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Alphabet in a research note on Wednesday, July 9th. Finally, KeyCorp set a $265.00 price objective on shares of Alphabet in a research note on Wednesday, September 3rd. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and a consensus 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.