Alphabet Inc. $GOOG Shares Sold by Naples Global Advisors LLC

Naples Global Advisors LLC cut its holdings in Alphabet Inc. (NASDAQ:GOOG) by 0.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 22,878 shares of the information services provider’s stock after selling 124 shares during the quarter. Naples Global Advisors LLC’s holdings in Alphabet were worth $4,058,000 as of its most recent SEC filing.

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

Insider Transactions at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 953 shares of the stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $241.20, for a total transaction of $229,863.60. Following the completion of the transaction, the chief accounting officer owned 17,294 shares of the company’s stock, valued at $4,171,312.80. This trade represents a 5.22% 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 Frances Arnold sold 103 shares of Alphabet stock in a transaction dated Tuesday, September 30th. The shares were sold at an average price of $243.13, for a total transaction of $25,042.39. Following the sale, the director owned 17,284 shares of the company’s stock, valued at approximately $4,202,258.92. This represents a 0.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 276,738 shares of company stock worth $59,135,475 in the last 90 days. Insiders own 12.99% of the company’s stock.

Analyst Upgrades and Downgrades

GOOG has been the topic of a number of research reports. Phillip Securities lowered Alphabet from a “strong-buy” rating to a “moderate buy” rating in a report on Monday, September 8th. Roth Capital reiterated a “buy” rating on shares of Alphabet in a research report on Wednesday, July 9th. Raymond James Financial restated an “outperform” rating and set a $210.00 price target (up from $185.00) on shares of Alphabet in a research report on Thursday, July 24th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Alphabet in a research note on Saturday, September 27th. Finally, Citizens Jmp upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a report on Thursday, June 26th. Five equities research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating, five have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and an average target price of $235.33.

Alphabet Stock Up 0.0%

Shares of NASDAQ GOOG opened at $246.45 on Friday. The company has a 50 day simple moving average of $221.89 and a 200-day simple moving average of $187.01. The company has a market capitalization of $2.98 trillion, a P/E ratio of 26.25, a P/E/G ratio of 1.66 and a beta of 1.00. 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 Inc. has a 1 year low of $142.66 and a 1 year high of $256.70.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data 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. The firm had revenue of $96.43 billion for the quarter, compared to analysts’ expectations of $93.67 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The firm’s quarterly revenue was up 13.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.89 earnings per share. On average, equities research analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, September 8th. Alphabet’s dividend payout ratio (DPR) is presently 8.95%.

Alphabet 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.