Sittner & Nelson LLC Decreases Stock Holdings in Alphabet Inc. $GOOG

Sittner & Nelson LLC lessened its holdings in Alphabet Inc. (NASDAQ:GOOG) by 0.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,667 shares of the information services provider’s stock after selling 189 shares during the quarter. Alphabet makes up about 1.6% of Sittner & Nelson LLC’s holdings, making the stock its 12th largest position. Sittner & Nelson LLC’s holdings in Alphabet were worth $4,021,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. IFS Advisors LLC lifted its position in shares of Alphabet by 400.0% during the 2nd quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock worth $27,000 after buying an additional 120 shares during the last quarter. Robbins Farley lifted its holdings in shares of Alphabet by 60.0% in the 2nd quarter. Robbins Farley now owns 160 shares of the information services provider’s stock valued at $28,000 after purchasing an additional 60 shares during the last quarter. WestEnd Advisors LLC boosted its position in shares of Alphabet by 58.7% in the 2nd quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock valued at $29,000 after purchasing an additional 61 shares during the period. Fairman Group LLC grew its stake in Alphabet by 121.3% during the 2nd quarter. Fairman Group LLC now owns 177 shares of the information services provider’s stock worth $31,000 after buying an additional 97 shares during the last quarter. Finally, Greykasell Wealth Strategies Inc. purchased a new stake in Alphabet in the first quarter valued at approximately $32,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have commented on GOOG shares. Phillip Securities upgraded shares of Alphabet from a “moderate buy” rating to a “strong-buy” rating in a research note on Friday, November 7th. HSBC reaffirmed a “buy” rating and set a $335.00 price objective on shares of Alphabet in a research report on Thursday, October 30th. Oppenheimer boosted their target price on Alphabet from $300.00 to $345.00 and gave the company an “outperform” rating in a report on Thursday, October 30th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $330.00 price target on shares of Alphabet in a report on Thursday, October 30th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Alphabet in a research report on Wednesday, October 8th. Six research analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and a consensus price target of $324.81.

Alphabet Stock Down 2.9%

GOOG 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. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $292.36. The stock has a market capitalization of $3.37 trillion, a P/E ratio of 27.53, a P/E/G ratio of 1.86 and a beta of 1.05. The business has a 50 day simple moving average of $257.00 and a 200-day simple moving average of $208.69.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Thursday, October 30th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.58. The firm had revenue of $102.35 billion during the quarter, compared to analysts’ expectations of $99.90 billion. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.Alphabet’s revenue was up 15.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.12 earnings per share. On average, equities analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

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

Insiders Place Their Bets

In related news, CAO Amie Thuener O’toole sold 2,778 shares of the company’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $245.00, for a total value of $680,610.00. Following the sale, the chief accounting officer owned 17,293 shares in the company, valued at $4,236,785. This represents a 13.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider John Kent Walker sold 17,816 shares of the firm’s stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $247.42, for a total value of $4,408,034.72. Following the completion of the transaction, the insider directly owned 42,985 shares of the company’s stock, valued at $10,635,348.70. The trade was a 29.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 221,796 shares of company stock worth $53,983,001. 12.99% of the stock is owned by company insiders.

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.