Valley National Advisers Inc. Has $532,000 Stake in Alphabet Inc. $GOOG

Valley National Advisers Inc. decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 4.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,004 shares of the information services provider’s stock after selling 130 shares during the quarter. Valley National Advisers Inc.’s holdings in Alphabet were worth $532,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in GOOG. RDA Financial Network lifted its stake in Alphabet by 5.3% in the second quarter. RDA Financial Network now owns 11,094 shares of the information services provider’s stock valued at $1,968,000 after acquiring an additional 554 shares during the last quarter. Tower View Wealth Management LLC lifted its stake in Alphabet by 6.9% in the second quarter. Tower View Wealth Management LLC now owns 27,644 shares of the information services provider’s stock valued at $4,904,000 after acquiring an additional 1,776 shares during the last quarter. Oldfather Financial Services LLC acquired a new stake in Alphabet in the second quarter valued at $213,000. Truist Financial Corp lifted its stake in Alphabet by 0.4% in the second quarter. Truist Financial Corp now owns 3,626,927 shares of the information services provider’s stock valued at $643,381,000 after acquiring an additional 15,065 shares during the last quarter. Finally, GC Wealth Management RIA LLC lifted its stake in Alphabet by 115.7% in the second quarter. GC Wealth Management RIA LLC now owns 214,392 shares of the information services provider’s stock valued at $38,031,000 after acquiring an additional 115,003 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insider Buying and Selling at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $184.38, for a total value of $5,992,350.00. Following the transaction, the chief executive officer directly owned 2,527,392 shares of the company’s stock, valued at $466,000,536.96. This trade represents a 1.27% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John Kent Walker sold 23,820 shares of the firm’s stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the completion of the transaction, the insider directly owned 42,999 shares in the company, valued at approximately $8,371,905.30. This represents a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 276,738 shares of company stock valued at $59,135,475 in the last ninety days. 12.99% of the stock is currently owned by company insiders.

Alphabet Price Performance

NASDAQ:GOOG opened at $245.46 on Thursday. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $256.70. The firm has a market cap of $2.97 trillion, a price-to-earnings ratio of 26.14, a P/E/G ratio of 1.67 and a beta of 1.00. The firm’s 50-day simple moving average is $225.03 and its 200 day simple moving average is $188.71. 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 (NASDAQ:GOOG) last released its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $93.67 billion. During the same period last year, the firm earned $1.89 earnings per share. Alphabet’s revenue for the quarter was up 13.8% compared to the same quarter last year. As a group, sell-side analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Monday, September 8th. Alphabet’s dividend payout ratio (DPR) is currently 8.95%.

Analysts Set New Price Targets

GOOG has been the subject of a number of research reports. Lake Street Capital restated a “buy” rating on shares of Alphabet in a research note on Wednesday, July 9th. TD Cowen raised their target price on shares of Alphabet from $270.00 to $280.00 and gave the stock a “buy” rating in a research note on Wednesday. Barclays restated a “buy” rating on shares of Alphabet in a research note on Wednesday, July 9th. Cowen restated a “buy” rating on shares of Alphabet in a research note on Wednesday. Finally, Wells Fargo & Company restated an “equal weight” rating on shares of Alphabet in a research note on Wednesday, July 9th. Six research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $237.68.

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.