Watershed Private Wealth LLC Sells 2,190 Shares of Alphabet Inc. $GOOG

Watershed Private Wealth LLC lessened its position in Alphabet Inc. (NASDAQ:GOOG) by 31.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,769 shares of the information services provider’s stock after selling 2,190 shares during the period. Watershed Private Wealth LLC’s holdings in Alphabet were worth $846,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in GOOG. Brighton Jones LLC lifted its stake in shares of Alphabet by 5.6% in the fourth quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider’s stock worth $22,901,000 after buying an additional 6,410 shares in the last quarter. Revisor Wealth Management LLC lifted its position in Alphabet by 107.9% during the first quarter. Revisor Wealth Management LLC now owns 3,659 shares of the information services provider’s stock valued at $572,000 after purchasing an additional 1,899 shares during the period. GAMMA Investing LLC lifted its position in Alphabet by 19.5% during the first quarter. GAMMA Investing LLC now owns 91,681 shares of the information services provider’s stock valued at $14,323,000 after purchasing an additional 14,931 shares during the period. Fort Washington Investment Advisors Inc. OH lifted its position in Alphabet by 6.3% during the first quarter. Fort Washington Investment Advisors Inc. OH now owns 2,653,344 shares of the information services provider’s stock valued at $414,532,000 after purchasing an additional 157,481 shares during the period. Finally, May Barnhard Investments LLC lifted its position in Alphabet by 5.5% during the first quarter. May Barnhard Investments LLC now owns 5,188 shares of the information services provider’s stock valued at $811,000 after purchasing an additional 269 shares during the period. Institutional investors own 27.26% of the company’s stock.

Alphabet Stock Down 1.9%

GOOG opened at $237.49 on Friday. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $256.70. The company has a market capitalization of $2.87 trillion, a PE ratio of 25.29, a PEG ratio of 1.63 and a beta of 1.00. The firm’s 50 day simple moving average is $226.97 and its two-hundred day simple moving average is $189.66.

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

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were paid a $0.21 dividend. 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%.

Analyst Ratings Changes

A number of brokerages recently weighed in on GOOG. KeyCorp set a $265.00 price objective on shares of Alphabet in a research report on Wednesday, September 3rd. Phillip Securities downgraded shares of Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research report on Monday, September 8th. Piper Sandler restated a “neutral” rating on shares of Alphabet in a research report on Wednesday, July 9th. Scotiabank increased their price objective 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. Finally, Raymond James Financial restated an “outperform” rating and set a $210.00 price objective (up previously from $185.00) on shares of Alphabet in a research report on Thursday, July 24th. Six equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and a consensus target price of $241.00.

Insider Transactions at Alphabet

In other news, Director Frances Arnold sold 103 shares of the stock in a transaction on Tuesday, September 30th. The shares were sold at an average price of $243.13, for a total value of $25,042.39. Following the completion of the sale, the director directly owned 17,284 shares of the company’s stock, valued at $4,202,258.92. This represents a 0.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider John Kent Walker sold 17,816 shares of the stock in a transaction 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 completion of the sale, the insider directly owned 42,985 shares of the company’s stock, valued at approximately $10,635,348.70. This trade represents a 29.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 276,738 shares of company stock valued at $59,135,475. Company insiders own 12.99% of the company’s stock.

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.