Davies Financial Advisors Inc. Sells 470 Shares of Alphabet Inc. $GOOG

Davies Financial Advisors Inc. decreased its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 3.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,919 shares of the information services provider’s stock after selling 470 shares during the period. Alphabet comprises 1.6% of Davies Financial Advisors Inc.’s portfolio, making the stock its 10th biggest position. Davies Financial Advisors Inc.’s holdings in Alphabet were worth $2,114,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. RDA Financial Network lifted its position 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 worth $1,968,000 after purchasing an additional 554 shares in the last quarter. Bleakley Financial Group LLC raised its position in Alphabet by 1.4% in the 2nd quarter. Bleakley Financial Group LLC now owns 170,020 shares of the information services provider’s stock worth $30,160,000 after purchasing an additional 2,304 shares during the last quarter. Oldfather Financial Services LLC acquired a new position in Alphabet during the 2nd quarter worth $213,000. Tower View Wealth Management LLC boosted 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 buying an additional 1,776 shares during the last quarter. Finally, Dock Street Asset Management Inc. increased its stake in shares of Alphabet by 0.8% in the 2nd quarter. Dock Street Asset Management Inc. now owns 234,306 shares of the information services provider’s stock valued at $41,563,000 after buying an additional 1,970 shares during the period. Institutional investors own 27.26% of the company’s stock.

Alphabet Stock Performance

Shares of GOOG stock opened at $279.12 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The stock has a market cap of $3.37 trillion, a PE ratio of 27.53, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05. The stock has a 50-day moving average of $257.00 and a 200-day moving average of $208.69. Alphabet Inc. has a one year low of $142.66 and a one year high of $292.36.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Thursday, October 30th. The information services provider reported $2.87 earnings per share for the quarter, topping the consensus estimate of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The business had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. During the same quarter last year, the firm earned $2.12 EPS. Alphabet’s quarterly revenue was up 15.9% compared to the same quarter last year. As a group, sell-side analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be given a $0.21 dividend. The ex-dividend date is Monday, December 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. Alphabet’s dividend payout ratio is currently 8.28%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on GOOG shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Alphabet in a research note on Wednesday, October 8th. Bank of America boosted their price objective on Alphabet from $280.00 to $335.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Mizuho set a $325.00 target price on shares of Alphabet in a research note on Thursday, October 30th. Morgan Stanley lifted their price target on shares of Alphabet from $210.00 to $270.00 and gave the stock an “overweight” rating in a research report on Thursday, October 2nd. Finally, DA Davidson set a $825.00 price objective on shares of Alphabet in a report on Monday, October 27th. Six research analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and an average price target of $324.81.

Insider Buying and Selling at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $283.48, for a total transaction of $9,213,100.00. Following the transaction, the chief executive officer directly owned 2,337,119 shares in the company, valued at approximately $662,526,494.12. The trade was a 1.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John L. Hennessy sold 600 shares of the business’s stock in a transaction dated Monday, October 13th. The shares were sold at an average price of $242.92, for a total value of $145,752.00. Following the completion of the transaction, the director directly owned 5,116 shares of the company’s stock, 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 have sold a total of 221,796 shares of company stock worth $53,983,001 in the last three months. 12.99% of the stock is owned by insiders.

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.