Alphabet Inc. $GOOG Shares Sold by Roberts Glore & Co. Inc. IL

Roberts Glore & Co. Inc. IL lowered its position in Alphabet Inc. (NASDAQ:GOOG) by 0.4% in the second quarter, Holdings Channel.com reports. The institutional investor owned 55,109 shares of the information services provider’s stock after selling 246 shares during the period. Alphabet makes up about 2.9% of Roberts Glore & Co. Inc. IL’s portfolio, making the stock its 5th largest position. Roberts Glore & Co. Inc. IL’s holdings in Alphabet were worth $9,776,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in GOOG. IFS Advisors LLC grew its position 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 valued at $27,000 after purchasing an additional 120 shares during the period. Robbins Farley raised its holdings in Alphabet by 60.0% during the 2nd quarter. Robbins Farley now owns 160 shares of the information services provider’s stock worth $28,000 after buying an additional 60 shares during the period. WestEnd Advisors LLC lifted its stake in Alphabet by 58.7% in the second quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock valued at $29,000 after buying an additional 61 shares in the last quarter. Fairman Group LLC boosted its holdings in shares of Alphabet by 121.3% in the second quarter. Fairman Group LLC now owns 177 shares of the information services provider’s stock valued at $31,000 after buying an additional 97 shares during the period. Finally, Greykasell Wealth Strategies Inc. bought a new stake in shares of Alphabet during the first quarter worth $32,000. 27.26% of the stock is currently owned by institutional investors.

Alphabet Price Performance

Shares of NASDAQ GOOG opened at $290.59 on Tuesday. The stock has a market capitalization of $3.51 trillion, a price-to-earnings ratio of 28.66, a PEG ratio of 1.86 and a beta of 1.05. The business has a 50-day moving average of $253.35 and a 200-day moving average of $206.74. 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 fifty-two week low of $142.66 and a fifty-two week high of $291.93.

Alphabet (NASDAQ:GOOG) last released its earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, topping 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 business had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. During the same quarter in the prior year, the company posted $2.12 earnings per share. Alphabet’s revenue was up 15.9% on a year-over-year basis. As a group, sell-side analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently disclosed 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. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Monday, December 8th. Alphabet’s dividend payout ratio is presently 8.28%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Barclays boosted their price objective on shares of Alphabet from $250.00 to $315.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. Raymond James Financial set a $275.00 price target on Alphabet and gave the company an “outperform” rating in a research note on Friday, October 24th. Rosenblatt Securities set a $279.00 price target on Alphabet in a report on Thursday, October 30th. Scotiabank set a $336.00 price objective on Alphabet and gave the stock a “sector outperform” rating in a research report on Thursday, October 30th. Finally, Hsbc Global Res raised Alphabet to a “strong-buy” rating in a research report on Tuesday, October 7th. Five equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $324.81.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 954 shares of the stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $282.33, for a total value of $269,342.82. Following the completion of the sale, the chief accounting officer owned 14,517 shares in the company, valued at $4,098,584.61. This trade represents a 6.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider John Kent Walker sold 17,816 shares of Alphabet stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the completion of the transaction, 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 position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 222,396 shares of company stock worth $54,105,275 in the last quarter. 12.99% of the stock is owned by company insiders.

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.