Alphabet Inc. $GOOG Shares Sold by PrairieView Partners LLC

PrairieView Partners LLC decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 3.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,281 shares of the information services provider’s stock after selling 200 shares during the period. PrairieView Partners LLC’s holdings in Alphabet were worth $1,114,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GOOG. IFS Advisors LLC grew its holdings in shares of Alphabet by 400.0% in 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 grew its holdings in shares of Alphabet by 60.0% in the 2nd quarter. Robbins Farley now owns 160 shares of the information services provider’s stock worth $28,000 after acquiring an additional 60 shares during the period. WestEnd Advisors LLC grew its holdings in shares of Alphabet by 58.7% in the 2nd quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock worth $29,000 after acquiring an additional 61 shares during the period. MorganRosel Wealth Management LLC acquired a new stake in shares of Alphabet in the 1st quarter worth approximately $26,000. Finally, Greykasell Wealth Strategies Inc. acquired a new stake in shares of Alphabet in the 1st quarter worth approximately $32,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Citizens Jmp upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a report on Thursday, June 26th. Mizuho upgraded Alphabet to a “strong-buy” rating in a report on Monday, September 29th. Piper Sandler restated a “neutral” rating on shares of Alphabet in a report on Wednesday, July 9th. Barclays restated a “buy” rating on shares of Alphabet in a report on Wednesday, July 9th. Finally, Wells Fargo & Company reaffirmed 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 assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $241.00.

Alphabet Price Performance

GOOG stock opened at $246.19 on Wednesday. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $256.70. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The stock’s 50 day moving average price is $228.96 and its 200 day moving average price is $191.00. The firm has a market cap of $2.98 trillion, a P/E ratio of 26.22, a PEG ratio of 1.65 and a beta of 1.00.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.12 by $0.19. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The firm had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.67 billion. During the same quarter in the prior year, the company earned $1.89 EPS. Alphabet’s revenue was up 13.8% on a year-over-year basis. On average, sell-side analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, September 8th. Alphabet’s dividend payout ratio is currently 8.95%.

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $249.50, for a total transaction of $8,108,750.00. Following the transaction, the chief executive officer owned 2,397,392 shares of the company’s stock, valued at $598,149,304. This represents a 1.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Kavitark Ram Shriram sold 18,566 shares of the stock in a transaction on Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $3,448,820.16. Following the transaction, the director directly owned 243,400 shares in the company, valued at approximately $45,213,984. This represents a 7.09% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 243,838 shares of company stock worth $53,070,333. 12.99% of the stock is owned by company insiders.

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.