Centricity Wealth Management LLC Decreases Stock Holdings in Alphabet Inc. $GOOG

Centricity Wealth Management LLC trimmed its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 32.1% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 720 shares of the information services provider’s stock after selling 341 shares during the period. Centricity Wealth Management LLC’s holdings in Alphabet were worth $128,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Principia Wealth Advisory LLC increased its holdings in Alphabet by 111.8% during the first quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider’s stock valued at $26,000 after buying an additional 85 shares during the last quarter. MorganRosel Wealth Management LLC purchased a new stake in Alphabet during the first quarter valued at approximately $26,000. Robbins Farley increased its holdings in Alphabet by 60.0% during the second quarter. Robbins Farley now owns 160 shares of the information services provider’s stock valued at $28,000 after buying an additional 60 shares during the last quarter. Goodman Advisory Group LLC purchased a new stake in Alphabet during the first quarter valued at approximately $32,000. Finally, Greykasell Wealth Strategies Inc. purchased a new stake in Alphabet during the first quarter valued at approximately $32,000. 27.26% of the stock is owned by hedge funds and other institutional investors.

Alphabet Price Performance

GOOG stock opened at $246.45 on Friday. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $256.70. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The company has a fifty day simple moving average of $221.89 and a two-hundred day simple moving average of $187.01. The firm has a market capitalization of $2.98 trillion, a P/E ratio of 26.25, a price-to-earnings-growth ratio of 1.66 and a beta of 1.00.

Alphabet (NASDAQ:GOOG) last released its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.19. The firm had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.67 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The business’s revenue was up 13.8% on a year-over-year basis. During the same quarter last year, the business earned $1.89 EPS. Analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

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

Insider Buying and Selling

In other Alphabet news, Director Kavitark Ram Shriram sold 18,566 shares of the firm’s stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the transaction, the director owned 243,400 shares of the company’s stock, valued at approximately $45,213,984. This trade represents a 7.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $184.38, for a total transaction of $5,992,350.00. Following the transaction, the chief executive officer directly owned 2,527,392 shares in the company, valued at $466,000,536.96. This trade represents a 1.27% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 276,738 shares of company stock valued at $59,135,475 in the last 90 days. Company insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on GOOG. Mizuho raised shares of Alphabet to a “strong-buy” rating in a report on Monday, September 29th. Lake Street Capital reiterated a “buy” rating on shares of Alphabet in a research report on Wednesday, July 9th. Pivotal Research upped their price target on shares of Alphabet from $245.00 to $300.00 and gave the stock a “buy” rating in a research report on Wednesday, September 3rd. UBS Group upped their price target on shares of Alphabet from $186.00 to $192.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 16th. Finally, KeyCorp set a $265.00 price target on shares of Alphabet in a research report on Wednesday, September 3rd. Five research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average 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.