Newman Dignan & Sheerar Inc. Sells 985 Shares of Alphabet Inc. $GOOG

Newman Dignan & Sheerar Inc. trimmed its position in Alphabet Inc. (NASDAQ:GOOG) by 6.7% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 13,714 shares of the information services provider’s stock after selling 985 shares during the period. Newman Dignan & Sheerar Inc.’s holdings in Alphabet were worth $2,433,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Principia Wealth Advisory LLC grew its position in Alphabet by 111.8% in the 1st 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 in the last quarter. MorganRosel Wealth Management LLC bought a new position in shares of Alphabet during the 1st quarter valued at approximately $26,000. Robbins Farley grew its position in shares of Alphabet by 60.0% during the 2nd quarter. Robbins Farley now owns 160 shares of the information services provider’s stock valued at $28,000 after acquiring an additional 60 shares during the period. Goodman Advisory Group LLC bought a new position in shares of Alphabet during the 1st quarter valued at approximately $32,000. Finally, Greykasell Wealth Strategies Inc. bought a new position in shares of Alphabet during the 1st quarter valued at approximately $32,000. 27.26% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Alphabet news, insider John Kent Walker sold 17,816 shares of the stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $247.42, for a total value of $4,408,034.72. Following the sale, the insider directly owned 42,985 shares in the company, valued at $10,635,348.70. This represents a 29.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 953 shares of the stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $241.20, for a total transaction of $229,863.60. Following the completion of the sale, the chief accounting officer owned 17,294 shares in the company, valued at $4,171,312.80. This represents a 5.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 276,738 shares of company stock worth $59,135,475. Company insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

Shares of GOOG stock opened at $246.45 on Friday. The stock has a market capitalization of $2.98 trillion, a P/E ratio of 26.25, a PEG ratio of 1.66 and a beta of 1.00. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The firm’s 50 day moving average is $221.89 and its 200 day moving average is $187.01. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $256.70.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS 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 company had revenue of $96.43 billion for the quarter, compared to analysts’ expectations of $93.67 billion. During the same period in the prior year, the company posted $1.89 EPS. Alphabet’s revenue was up 13.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Announces Dividend

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

Analyst Upgrades and Downgrades

GOOG has been the subject of a number of research reports. JPMorgan Chase & Co. increased their target price on shares of Alphabet from $232.00 to $260.00 and gave the company an “overweight” rating in a research report on Wednesday, September 3rd. Oppenheimer reissued an “outperform” rating and set a $270.00 target price (up from $235.00) on shares of Alphabet in a research report on Wednesday, September 3rd. Citizens Jmp raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Thursday, June 26th. Jefferies Financial Group increased their target price on shares of Alphabet from $230.00 to $285.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Raymond James Financial reissued an “outperform” rating and set a $210.00 target price (up from $185.00) on shares of Alphabet in a research report on Thursday, July 24th. Five analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $235.33.

About Alphabet

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.