Alphabet Inc. $GOOG Shares Sold by Cook Wealth LLC

Cook Wealth LLC lowered its position in Alphabet Inc. (NASDAQ:GOOG) by 15.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,090 shares of the information services provider’s stock after selling 1,080 shares during the period. Alphabet makes up about 0.5% of Cook Wealth LLC’s investment portfolio, making the stock its 26th biggest position. Cook Wealth LLC’s holdings in Alphabet were worth $991,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Brighton Jones LLC grew its holdings in Alphabet by 5.6% during the 4th quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider’s stock valued at $22,901,000 after buying an additional 6,410 shares during the last quarter. Bank Pictet & Cie Europe AG grew its holdings in Alphabet by 4.3% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 506,535 shares of the information services provider’s stock valued at $96,465,000 after buying an additional 20,855 shares during the last quarter. Colonial Trust Co SC grew its holdings in Alphabet by 2.9% during the 4th quarter. Colonial Trust Co SC now owns 30,229 shares of the information services provider’s stock valued at $5,757,000 after buying an additional 857 shares during the last quarter. Collar Capital Management LLC acquired a new stake in Alphabet during the 4th quarter valued at $2,993,000. Finally, Eagle Global Advisors LLC grew its holdings in Alphabet by 4.5% during the 4th quarter. Eagle Global Advisors LLC now owns 224,471 shares of the information services provider’s stock valued at $42,748,000 after buying an additional 9,588 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Trading Up 9.0%

Shares of GOOG opened at $231.10 on Thursday. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $231.80. The firm has a market capitalization of $2.79 trillion, a P/E ratio of 24.61, a price-to-earnings-growth ratio of 1.44 and a beta of 1.01. 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 stock’s fifty day simple moving average is $194.34 and its 200 day simple moving average is $176.23.

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

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.4%. The ex-dividend date is Monday, September 8th. Alphabet’s dividend payout ratio is currently 8.95%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on GOOG shares. The Goldman Sachs Group reissued a “buy” rating and set a $220.00 price target on shares of Alphabet in a research note on Monday, June 2nd. KeyCorp set a $265.00 price target on Alphabet in a research note on Wednesday. Barclays reissued a “buy” rating on shares of Alphabet in a research note on Wednesday, July 9th. Citizens Jmp raised Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Thursday, June 26th. Finally, Scotiabank increased their price target on Alphabet from $200.00 to $240.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, July 22nd. Five investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and a consensus price target of $227.56.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $199.92, for a total value of $6,497,400.00. Following the completion of the sale, the chief executive officer directly owned 2,462,392 shares in the company, valued at approximately $492,281,408.64. This represents a 1.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John L. Hennessy sold 600 shares of the stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $203.79, for a total value of $122,274.00. Following the completion of the sale, the director owned 6,316 shares of the company’s stock, valued at approximately $1,287,137.64. This represents a 8.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 222,210 shares of company stock valued at $41,742,155 in the last 90 days. 12.99% of the stock is currently 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.