Tiemann Investment Advisors LLC Sells 1,085 Shares of Alphabet Inc. $GOOG

Tiemann Investment Advisors LLC cut its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 8.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,609 shares of the information services provider’s stock after selling 1,085 shares during the period. Alphabet makes up approximately 0.8% of Tiemann Investment Advisors LLC’s investment portfolio, making the stock its 21st largest holding. Tiemann Investment Advisors LLC’s holdings in Alphabet were worth $2,059,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of GOOG. REDW Wealth LLC lifted its stake in Alphabet by 2.3% in the second quarter. REDW Wealth LLC now owns 2,410 shares of the information services provider’s stock valued at $428,000 after buying an additional 54 shares in the last quarter. ACT Advisors LLC. increased its position in shares of Alphabet by 3.5% in the second quarter. ACT Advisors LLC. now owns 1,625 shares of the information services provider’s stock valued at $288,000 after acquiring an additional 55 shares during the last quarter. Moser Wealth Advisors LLC increased its position in shares of Alphabet by 2.2% during the 2nd quarter. Moser Wealth Advisors LLC now owns 2,545 shares of the information services provider’s stock worth $451,000 after purchasing an additional 55 shares during the last quarter. LongView Wealth Management raised its position in Alphabet by 1.1% during the second quarter. LongView Wealth Management now owns 5,126 shares of the information services provider’s stock worth $909,000 after acquiring an additional 56 shares in the last quarter. Finally, Kooman & Associates lifted its stake in Alphabet by 1.4% in the 2nd quarter. Kooman & Associates now owns 4,127 shares of the information services provider’s stock valued at $732,000 after purchasing an additional 56 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Alphabet Stock Up 0.4%

Shares of GOOG opened at $291.74 on Wednesday. The firm has a 50 day simple moving average of $254.94 and a two-hundred day simple moving average of $207.64. 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 one year low of $142.66 and a one year high of $292.34. The company has a market cap of $3.53 trillion, a P/E ratio of 28.77, a P/E/G ratio of 1.86 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.29 by $0.58. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The company had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. During the same quarter last year, the company posted $2.12 EPS. The company’s revenue for the quarter was up 15.9% compared to the same quarter last year. Research analysts forecast that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 8th will be issued a $0.21 dividend. The ex-dividend date of this dividend 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 8.28%.

Insider Buying and Selling

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $283.48, for a total value of $9,213,100.00. Following the sale, the chief executive officer owned 2,337,119 shares in the company, valued at $662,526,494.12. This trade represents a 1.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Frances Arnold sold 112 shares of the business’s stock in a transaction on Thursday, October 30th. The stock was sold at an average price of $291.80, for a total transaction of $32,681.60. Following the sale, the director directly owned 18,004 shares in the company, valued at approximately $5,253,567.20. The trade was a 0.62% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 221,796 shares of company stock worth $53,983,001 in the last quarter. Corporate insiders own 12.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. KeyCorp reaffirmed an “overweight” rating and issued a $330.00 target price on shares of Alphabet in a research report on Thursday, October 30th. Weiss Ratings reiterated a “buy (b)” rating on shares of Alphabet in a research report on Wednesday, October 8th. Oppenheimer lifted their target price on Alphabet from $300.00 to $345.00 and gave the stock an “outperform” rating in a report on Thursday, October 30th. HSBC restated a “buy” rating and issued a $335.00 price target on shares of Alphabet in a research note on Thursday, October 30th. Finally, Raymond James Financial set a $275.00 price objective on shares of Alphabet and gave the stock an “outperform” rating in a research note on Friday, October 24th. Six 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 assigned a Sell rating to the stock. Based on data from MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and a consensus target price of $324.81.

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.