VestGen Advisors LLC Sells 4,829 Shares of Alphabet Inc. $GOOG

VestGen Advisors LLC decreased its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 4.2% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 109,870 shares of the information services provider’s stock after selling 4,829 shares during the quarter. Alphabet makes up 0.8% of VestGen Advisors LLC’s holdings, making the stock its 26th largest holding. VestGen Advisors LLC’s holdings in Alphabet were worth $19,962,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of GOOG. RDA Financial Network increased its stake in shares of Alphabet by 5.3% during the second quarter. RDA Financial Network now owns 11,094 shares of the information services provider’s stock valued at $1,968,000 after buying an additional 554 shares during the period. Bleakley Financial Group LLC lifted its stake in Alphabet by 1.4% in the second quarter. Bleakley Financial Group LLC now owns 170,020 shares of the information services provider’s stock worth $30,160,000 after acquiring an additional 2,304 shares during the period. Northwestern Mutual Wealth Management Co. grew its holdings in Alphabet by 3.7% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,164,341 shares of the information services provider’s stock worth $206,542,000 after acquiring an additional 42,028 shares in the last quarter. Oldfather Financial Services LLC bought a new position in Alphabet during the 2nd quarter worth about $213,000. Finally, Tower View Wealth Management LLC increased its position in Alphabet by 6.9% during the 2nd quarter. Tower View Wealth Management LLC now owns 27,644 shares of the information services provider’s stock valued at $4,904,000 after purchasing an additional 1,776 shares during the period. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Analyst Upgrades and Downgrades

GOOG has been the subject of several research reports. HSBC reaffirmed a “buy” rating and issued a $335.00 price target on shares of Alphabet in a research report on Thursday, October 30th. Mizuho set a $325.00 price objective on shares of Alphabet in a research note on Thursday, October 30th. TD Cowen upped their target price on Alphabet from $270.00 to $280.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. Jefferies Financial Group increased their target price on Alphabet from $285.00 to $320.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. Finally, Morgan Stanley boosted their price target on Alphabet from $210.00 to $270.00 and gave the stock an “overweight” rating in a research report on Thursday, October 2nd. Seven research analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Alphabet has an average rating of “Buy” and an average target price of $304.62.

Insiders Place Their Bets

In related news, Director John L. Hennessy sold 600 shares of the stock in a transaction that occurred on Thursday, November 13th. The shares were sold at an average price of $280.06, for a total value of $168,036.00. Following the completion of the transaction, the director directly owned 4,516 shares of the company’s stock, valued at $1,264,750.96. This trade represents a 11.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,778 shares of Alphabet stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $288.26, for a total transaction of $800,786.28. Following the completion of the sale, the chief accounting officer owned 11,739 shares of the company’s stock, valued at $3,383,884.14. This trade represents a 19.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 227,850 shares of company stock worth $58,874,814 in the last three months. Insiders own 12.99% of the company’s stock.

Alphabet Price Performance

Shares of GOOG opened at $319.95 on Friday. The company has a 50 day moving average of $269.82 and a two-hundred day moving average of $219.97. 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 twelve month low of $142.66 and a twelve month high of $328.67. The company has a market cap of $3.86 trillion, a price-to-earnings ratio of 31.55, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Thursday, October 30th. 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 during the quarter, compared to analyst estimates of $99.90 billion. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The business’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.12 EPS. As a group, analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 8th will be paid a $0.21 dividend. The ex-dividend date is Monday, December 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is 8.28%.

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.