Tandem Capital Management Corp ADV Sells 2,410 Shares of Alphabet Inc. $GOOG

Tandem Capital Management Corp ADV cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 12.2% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 17,314 shares of the information services provider’s stock after selling 2,410 shares during the period. Alphabet accounts for 1.6% of Tandem Capital Management Corp ADV’s holdings, making the stock its 20th biggest holding. Tandem Capital Management Corp ADV’s holdings in Alphabet were worth $3,071,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GOOG. Brighton Jones LLC boosted its stake in shares of Alphabet by 5.6% during the fourth quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider’s stock valued at $22,901,000 after purchasing an additional 6,410 shares in the last quarter. Revisor Wealth Management LLC boosted its stake in shares of 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 in the last quarter. GAMMA Investing LLC boosted its stake in shares of 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 in the last quarter. Krilogy Financial LLC boosted its stake in Alphabet by 3.2% in the first quarter. Krilogy Financial LLC now owns 47,104 shares of the information services provider’s stock valued at $7,359,000 after acquiring an additional 1,439 shares in the last quarter. Finally, Ipswich Investment Management Co. Inc. boosted its stake in Alphabet by 3.3% in the first quarter. Ipswich Investment Management Co. Inc. now owns 15,752 shares of the information services provider’s stock valued at $2,461,000 after acquiring an additional 505 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

GOOG has been the subject of several recent analyst reports. Citizens Jmp upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Thursday, June 26th. Pivotal Research raised their target price on shares of Alphabet from $245.00 to $300.00 and gave the company a “buy” rating in a research note on Wednesday, September 3rd. Barclays restated a “buy” rating on shares of Alphabet in a research note on Wednesday, July 9th. BNP Paribas downgraded shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, June 26th. Finally, UBS Group set a $255.00 target price on shares of Alphabet and gave the company a “neutral” rating in a research note on Thursday. Six equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $241.00.

Insider Buying and Selling at Alphabet

In related news, CAO Amie Thuener O’toole sold 953 shares of the business’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $241.20, for a total transaction of $229,863.60. Following the completion of the transaction, the chief accounting officer directly owned 17,294 shares in the company, valued at $4,171,312.80. The trade was a 5.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John L. Hennessy sold 600 shares of the business’s stock in a transaction on Monday, September 15th. The shares were sold at an average price of $249.44, for a total transaction of $149,664.00. Following the transaction, the director owned 5,716 shares of the company’s stock, valued at $1,425,799.04. This represents a 9.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 276,738 shares of company stock valued at $59,135,475. Company insiders own 12.99% of the company’s stock.

Alphabet Trading Down 1.9%

NASDAQ:GOOG opened at $237.49 on Friday. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $256.70. The firm has a fifty day simple moving average of $226.97 and a 200-day simple moving average of $189.81. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $2.87 trillion, a P/E ratio of 25.29, a PEG ratio of 1.60 and a beta of 1.00.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $93.67 billion. During the same period in the previous year, the firm posted $1.89 earnings per share. The business’s revenue for the quarter was up 13.8% compared to the same quarter last year. On average, equities research analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently disclosed 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. This represents a $0.84 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Monday, September 8th. Alphabet’s payout ratio is presently 8.95%.

About Alphabet

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.