Etesian Wealth Advisors Inc. Sells 460 Shares of Alphabet Inc. $GOOG

Etesian Wealth Advisors Inc. reduced its position in Alphabet Inc. (NASDAQ:GOOG) by 6.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,369 shares of the information services provider’s stock after selling 460 shares during the quarter. Etesian Wealth Advisors Inc.’s holdings in Alphabet were worth $1,130,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Kingstone Capital Partners Texas LLC lifted its holdings in shares of Alphabet by 580,897.4% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider’s stock worth $23,963,208,000 after acquiring an additional 135,064,454 shares during the period. Nuveen LLC bought a new stake in Alphabet in the first quarter valued at about $2,622,943,000. Vanguard Group Inc. lifted its stake in Alphabet by 2.4% during the first quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider’s stock worth $64,299,725,000 after purchasing an additional 9,687,855 shares during the period. JPMorgan Chase & Co. lifted its stake in Alphabet by 9.9% during the first quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider’s stock worth $15,971,861,000 after purchasing an additional 9,243,959 shares during the period. Finally, Strs Ohio acquired a new stake in Alphabet during the first quarter valued at approximately $369,713,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on GOOG shares. KeyCorp set a $265.00 target price on Alphabet in a report on Wednesday, September 3rd. Citizens Jmp upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Thursday, June 26th. Phillip Securities cut Alphabet from a “strong-buy” rating to a “moderate buy” rating in a report on Monday, September 8th. Hsbc Global Res raised shares of Alphabet to a “strong-buy” rating in a report on Tuesday, October 7th. Finally, TD Cowen increased their target price on shares of Alphabet from $270.00 to $280.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Six analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $241.00.

Insider Buying and Selling

In other Alphabet news, insider John Kent Walker sold 23,820 shares of the company’s stock in a transaction on Monday, August 4th. The stock was sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the transaction, the insider owned 42,999 shares of the company’s stock, valued at approximately $8,371,905.30. This represents a 35.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kavitark Ram Shriram sold 18,566 shares of Alphabet stock in a transaction 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 completion of the sale, 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 disclosure for this sale can be found here. Insiders sold 276,338 shares of company stock worth $59,062,683 in the last quarter. Insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

Alphabet stock opened at $237.49 on Monday. The stock has a 50-day simple moving average of $226.97 and a 200 day simple moving average of $189.99. The stock has a market capitalization of $2.87 trillion, a price-to-earnings ratio of 25.29, a P/E/G ratio of 1.60 and a beta of 1.00. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $256.70.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 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 firm had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.67 billion. During the same quarter in the prior year, the firm earned $1.89 EPS. The company’s revenue was up 13.8% on a year-over-year basis. On average, research analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.4%. The ex-dividend date was Monday, September 8th. Alphabet’s payout ratio is 8.95%.

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.