MSH Capital Advisors LLC Trims Stock Position in Alphabet Inc. $GOOG

MSH Capital Advisors LLC lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 5.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,805 shares of the information services provider’s stock after selling 100 shares during the quarter. MSH Capital Advisors LLC’s holdings in Alphabet were worth $320,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. RDA Financial Network lifted its position in shares of Alphabet by 5.3% during the 2nd quarter. RDA Financial Network now owns 11,094 shares of the information services provider’s stock worth $1,968,000 after buying an additional 554 shares during the last quarter. Tower View Wealth Management LLC raised its position in Alphabet by 6.9% in 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 last quarter. Oldfather Financial Services LLC purchased a new stake in Alphabet in the 2nd quarter valued at $213,000. Truist Financial Corp raised its position in Alphabet by 0.4% in the 2nd quarter. Truist Financial Corp now owns 3,626,927 shares of the information services provider’s stock valued at $643,381,000 after purchasing an additional 15,065 shares during the last quarter. Finally, GC Wealth Management RIA LLC raised its position in Alphabet by 115.7% in the 2nd quarter. GC Wealth Management RIA LLC now owns 214,392 shares of the information services provider’s stock valued at $38,031,000 after purchasing an additional 115,003 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on GOOG shares. Morgan Stanley upped their price target on shares of Alphabet from $210.00 to $270.00 and gave the company an “overweight” rating in a research report on Thursday, October 2nd. BNP Paribas downgraded shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, June 26th. Scotiabank upped their price target on shares of Alphabet from $200.00 to $240.00 and gave the company a “sector outperform” rating in a research report on Tuesday, July 22nd. Mizuho upgraded shares of Alphabet to a “strong-buy” rating in a research report on Monday, September 29th. Finally, Lake Street Capital reiterated a “buy” rating on shares of Alphabet in a research report on Wednesday, July 9th. Six research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $241.00.

Insider Transactions at Alphabet

In other news, insider John Kent Walker sold 23,820 shares of the company’s stock in a transaction on Monday, August 4th. The shares were sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the transaction, the insider directly owned 42,999 shares of the company’s stock, valued at $8,371,905.30. This represents a 35.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $196.23, for a total transaction of $6,377,475.00. Following the transaction, the chief executive officer directly owned 2,494,892 shares in the company, valued at approximately $489,572,657.16. This trade represents a 1.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 276,338 shares of company stock valued at $59,062,683 in the last ninety days. 12.99% of the stock is currently owned by company insiders.

Alphabet Stock Performance

NASDAQ:GOOG opened at $237.49 on Monday. 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 $256.70. The stock has a market cap of $2.87 trillion, a PE ratio of 25.29, a price-to-earnings-growth ratio of 1.60 and a beta of 1.00. The firm’s fifty day simple moving average is $226.97 and its 200-day simple moving average is $189.99.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share 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 business had revenue of $96.43 billion for the quarter, compared to analysts’ expectations of $93.67 billion. During the same period in the prior year, the company posted $1.89 EPS. The business’s revenue for the quarter was up 13.8% on a year-over-year basis. Analysts expect 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. Stockholders of record on Monday, September 8th were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.4%. Alphabet’s dividend payout ratio is 8.95%.

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.