Alphabet Inc. $GOOG Shares Sold by Lodestone Wealth Management LLC

Lodestone Wealth Management LLC reduced its holdings in Alphabet Inc. (NASDAQ:GOOG) by 1.5% during the second quarter, HoldingsChannel reports. The institutional investor owned 20,569 shares of the information services provider’s stock after selling 316 shares during the period. Alphabet comprises approximately 1.8% of Lodestone Wealth Management LLC’s portfolio, making the stock its 13th largest holding. Lodestone Wealth Management LLC’s holdings in Alphabet were worth $3,649,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of GOOG. IFS Advisors LLC boosted its stake in Alphabet by 400.0% in the second quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock valued at $27,000 after acquiring an additional 120 shares during the period. Robbins Farley raised its position in shares of 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 purchasing an additional 60 shares during the period. WestEnd Advisors LLC raised its position in shares of Alphabet by 58.7% during the 2nd quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock worth $29,000 after purchasing an additional 61 shares during the period. Fairman Group LLC lifted its holdings in shares of Alphabet by 121.3% in the 2nd quarter. Fairman Group LLC now owns 177 shares of the information services provider’s stock worth $31,000 after purchasing an additional 97 shares during the last quarter. Finally, Horrell Capital Management Inc. boosted its position in Alphabet by 100.0% during the 2nd quarter. Horrell Capital Management Inc. now owns 200 shares of the information services provider’s stock valued at $35,000 after purchasing an additional 100 shares during the period. 27.26% of the stock is owned by institutional investors and hedge funds.

Alphabet Stock Performance

GOOG stock opened at $292.99 on Thursday. The company has a 50-day simple moving average of $260.83 and a 200 day simple moving average of $212.43. The company has a market capitalization of $3.54 trillion, a P/E ratio of 28.89, a PEG ratio of 1.86 and a beta of 1.05. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $304.25.

Alphabet (NASDAQ:GOOG) last released its earnings results on Thursday, October 30th. The information services provider reported $2.87 EPS for the quarter, beating the consensus estimate of $2.29 by $0.58. The firm had revenue of $102.35 billion for the quarter, compared to analysts’ expectations of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. Alphabet’s quarterly revenue was up 15.9% on a year-over-year basis. During the same quarter last year, the company earned $2.12 EPS. Sell-side analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, December 8th. This represents a $0.84 annualized dividend and a yield of 0.3%. Alphabet’s payout ratio is presently 8.28%.

Insider Transactions at Alphabet

In other Alphabet news, Director Frances Arnold sold 112 shares of the 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 completion of the transaction, the director directly owned 18,004 shares of the company’s stock, valued at approximately $5,253,567.20. This trade represents a 0.62% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John L. Hennessy sold 600 shares of Alphabet stock in a transaction on Thursday, November 13th. The shares were sold at an average price of $280.06, for a total value of $168,036.00. Following the transaction, the director owned 4,516 shares in the company, valued at approximately $1,264,750.96. This trade represents a 11.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 195,452 shares of company stock valued at $49,255,209. 12.99% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

GOOG has been the topic of several analyst reports. DA Davidson set a $825.00 target price on Alphabet in a research report on Monday, October 27th. Jefferies Financial Group increased their price objective on shares of Alphabet from $285.00 to $320.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Hsbc Global Res upgraded shares of Alphabet to a “strong-buy” rating in a research report on Tuesday, October 7th. Canaccord Genuity Group restated a “buy” rating and issued a $330.00 target price on shares of Alphabet in a research report on Thursday, October 30th. Finally, TD Cowen raised their price target on shares of Alphabet from $270.00 to $280.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Seven equities research analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $324.81.

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.