Alphabet Inc. $GOOG Shares Sold by Parkwood LLC

Parkwood LLC lowered its holdings in Alphabet Inc. (NASDAQ:GOOG) by 41.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 86,138 shares of the information services provider’s stock after selling 60,856 shares during the period. Alphabet accounts for 1.4% of Parkwood LLC’s investment portfolio, making the stock its 21st biggest position. Parkwood LLC’s holdings in Alphabet were worth $15,280,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in GOOG. IFS Advisors LLC boosted its position in shares of Alphabet by 400.0% in the second 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 last quarter. Robbins Farley raised its stake in Alphabet by 60.0% during the second 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 boosted 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 valued at $29,000 after purchasing an additional 61 shares during the last quarter. Fairman Group LLC grew its stake in shares of Alphabet by 121.3% during the 2nd 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, University of Illinois Foundation acquired a new stake in shares of Alphabet during the 2nd quarter worth $31,000. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $250.15, for a total value of $8,129,875.00. Following the completion of the transaction, the chief executive officer directly owned 2,369,619 shares in the company, valued at approximately $592,760,192.85. This trade represents a 1.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider John Kent Walker sold 17,816 shares of the company’s stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $247.42, for a total value of $4,408,034.72. Following the sale, the insider owned 42,985 shares in the company, valued at $10,635,348.70. The trade was a 29.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 228,906 shares of company stock valued at $62,127,158 in the last ninety days. Corporate insiders own 12.99% of the company’s stock.

Alphabet Trading Down 2.3%

NASDAQ GOOG opened at $313.70 on Friday. The company’s fifty day simple moving average is $282.47 and its 200-day simple moving average is $228.96. The stock has a market cap of $3.79 trillion, a P/E ratio of 30.94, a PEG ratio of 1.86 and a beta of 1.07. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $328.67. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.06.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Thursday, October 30th. The information services provider reported $2.87 EPS for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 35.00%. The firm had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. During the same quarter in the previous year, the business posted $2.12 EPS. The firm’s revenue was up 15.9% compared to the same quarter last year. Equities research analysts predict that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 8th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Monday, December 8th. Alphabet’s dividend payout ratio is 8.28%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on GOOG. JPMorgan Chase & Co. boosted their price target on Alphabet from $260.00 to $300.00 and gave the company an “overweight” rating in a research report on Monday, October 27th. Robert W. Baird boosted their target price on Alphabet from $215.00 to $275.00 and gave the stock an “outperform” rating in a report on Monday, September 22nd. Jefferies Financial Group increased their target price on shares of Alphabet from $285.00 to $320.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. DA Davidson set a $300.00 price target on shares of Alphabet in a report on Tuesday, November 25th. Finally, Cantor Fitzgerald reiterated a “neutral” rating on shares of Alphabet in a research note on Wednesday, December 3rd. Seven equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $310.54.

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.