Alphabet Inc. $GOOG Shares Sold by Weaver Consulting Group

Weaver Consulting Group lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 9.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,817 shares of the information services provider’s stock after selling 283 shares during the period. Weaver Consulting Group’s holdings in Alphabet were worth $500,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. IFS Advisors LLC lifted its position in 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 acquiring an additional 120 shares during the period. Robbins Farley raised its stake in shares of Alphabet by 60.0% in the second quarter. Robbins Farley now owns 160 shares of the information services provider’s stock worth $28,000 after purchasing an additional 60 shares during the last quarter. WestEnd Advisors LLC lifted its holdings in shares of Alphabet by 58.7% during the second quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock worth $29,000 after purchasing an additional 61 shares during the period. Fairman Group LLC boosted its position in Alphabet by 121.3% in the second quarter. Fairman Group LLC now owns 177 shares of the information services provider’s stock valued at $31,000 after buying an additional 97 shares during the last quarter. Finally, Greykasell Wealth Strategies Inc. acquired a new position in Alphabet in the 1st quarter worth approximately $32,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Trading Up 3.0%

Shares of Alphabet stock opened at $301.71 on Thursday. The firm has a 50-day simple moving average of $260.83 and a two-hundred day simple moving average of $212.43. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $304.25. The company has a market cap of $3.64 trillion, a P/E ratio of 29.74, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05.

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

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders 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 payout ratio is 8.28%.

Insider Transactions at Alphabet

In other news, insider John Kent Walker sold 17,816 shares of the stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the transaction, the insider owned 42,985 shares in the company, valued at $10,635,348.70. This trade represents a 29.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 2,778 shares of the business’s stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $250.05, for a total transaction of $694,638.90. Following the completion of the sale, the chief accounting officer directly owned 14,516 shares of the company’s stock, valued at approximately $3,629,725.80. The trade was a 16.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 195,452 shares of company stock valued at $49,255,209 in the last three months. 12.99% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have recently weighed in on GOOG. Wolfe Research increased their price objective on shares of Alphabet from $290.00 to $350.00 and gave the stock an “outperform” rating in a research note on Thursday, October 30th. JPMorgan Chase & Co. upped their price target on shares of Alphabet from $260.00 to $300.00 and gave the company an “overweight” rating in a report on Monday, October 27th. HSBC reiterated a “buy” rating and set a $335.00 price objective on shares of Alphabet in a research note on Thursday, October 30th. Cowen restated a “buy” rating on shares of Alphabet in a research note on Thursday, October 30th. Finally, Rosenblatt Securities set a $279.00 target price on Alphabet in a report on Thursday, October 30th. Seven research analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, four have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus target price of $324.81.

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.