Alphabet Inc. $GOOG Shares Sold by Pekin Hardy Strauss Inc.

Pekin Hardy Strauss Inc. reduced its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 5.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 42,119 shares of the information services provider’s stock after selling 2,591 shares during the period. Alphabet comprises approximately 0.8% of Pekin Hardy Strauss Inc.’s holdings, making the stock its 28th largest holding. Pekin Hardy Strauss Inc.’s holdings in Alphabet were worth $7,472,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. IFS Advisors LLC boosted its holdings in shares of Alphabet by 400.0% in the 2nd quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock valued at $27,000 after buying an additional 120 shares during the period. Robbins Farley lifted its holdings in Alphabet by 60.0% in the second quarter. Robbins Farley now owns 160 shares of the information services provider’s stock worth $28,000 after acquiring an additional 60 shares during the last quarter. WestEnd Advisors LLC boosted its stake in Alphabet by 58.7% in the second quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock valued at $29,000 after acquiring an additional 61 shares during the period. Fairman Group LLC boosted its stake in Alphabet by 121.3% in the second quarter. Fairman Group LLC now owns 177 shares of the information services provider’s stock valued at $31,000 after acquiring an additional 97 shares during the period. Finally, Greykasell Wealth Strategies Inc. acquired a new stake in shares of Alphabet during the 1st quarter worth approximately $32,000. 27.26% of the stock is currently owned by institutional investors.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 954 shares of the firm’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $282.33, for a total transaction of $269,342.82. Following the completion of the transaction, the chief accounting officer owned 14,517 shares of the company’s stock, valued at $4,098,584.61. This trade represents a 6.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director John L. Hennessy sold 600 shares of Alphabet stock in a transaction dated Monday, October 13th. The stock was sold at an average price of $242.92, for a total value of $145,752.00. Following the transaction, the director directly owned 5,116 shares in the company, valued at approximately $1,242,778.72. The trade was a 10.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 222,396 shares of company stock valued at $54,105,275 over the last three months. 12.99% of the stock is owned by company insiders.

Alphabet Stock Performance

GOOG stock opened at $279.70 on Friday. The company has a 50-day simple moving average of $251.81 and a 200 day simple moving average of $205.14. The company has a market capitalization of $3.38 trillion, a P/E ratio of 27.58, a PEG ratio of 1.86 and a beta of 1.05. 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 fifty-two week low of $142.66 and a fifty-two week high of $291.93.

Alphabet (NASDAQ:GOOG) last released its earnings results on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, beating the consensus estimate of $2.29 by $0.58. The firm had revenue of $102.35 billion for the quarter, compared to analysts’ expectations of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. Alphabet’s quarterly revenue was up 15.9% on a year-over-year basis. During the same quarter last year, the company earned $2.12 EPS. Sell-side analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, December 8th. This represents a $0.84 annualized dividend and a yield of 0.3%. Alphabet’s payout ratio is presently 8.28%.

Analyst Ratings Changes

A number of research firms recently issued reports on GOOG. Bank of America boosted their price objective on Alphabet from $280.00 to $335.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. Cantor Fitzgerald set a $310.00 target price on Alphabet and gave the company a “neutral” rating in a research note on Thursday, October 30th. Robert W. Baird upped their price target on shares of Alphabet from $215.00 to $275.00 and gave the stock an “outperform” rating in a research report on Monday, September 22nd. HSBC reiterated a “buy” rating and issued a $335.00 price objective on shares of Alphabet in a research report on Thursday, October 30th. Finally, Piper Sandler boosted their target price on shares of Alphabet from $285.00 to $330.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. Five research analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, four have assigned 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 price target of $324.81.

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.