Alphabet Inc. $GOOG Shares Sold by Pitcairn Co.

Pitcairn Co. lowered its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 17.8% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 64,354 shares of the information services provider’s stock after selling 13,937 shares during the quarter. Alphabet accounts for 0.7% of Pitcairn Co.’s investment portfolio, making the stock its 19th largest holding. Pitcairn Co.’s holdings in Alphabet were worth $11,416,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in GOOG. IFS Advisors LLC increased its position in Alphabet by 400.0% during the 2nd quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock worth $27,000 after purchasing an additional 120 shares during the period. Robbins Farley raised its position in Alphabet by 60.0% in the second quarter. Robbins Farley now owns 160 shares of the information services provider’s stock worth $28,000 after acquiring an additional 60 shares in the last quarter. WestEnd Advisors LLC lifted its holdings 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 acquiring an additional 61 shares during the period. University of Illinois Foundation purchased a new stake in shares of Alphabet during the 2nd quarter worth $31,000. Finally, 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 worth $31,000 after purchasing an additional 97 shares during the period. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently commented on GOOG. Rosenblatt Securities set a $279.00 price objective on shares of Alphabet in a research note on Thursday, October 30th. DA Davidson set a $300.00 price target on shares of Alphabet in a research report on Tuesday, November 25th. Wolfe Research boosted their price target on Alphabet from $290.00 to $350.00 and gave the stock an “outperform” rating in a research note on Thursday, October 30th. TD Cowen upped their price target on Alphabet from $335.00 to $350.00 and gave the stock a “buy” rating in a report on Friday. Finally, Loop Capital raised Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 18th. Seven 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 issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $313.04.

Alphabet Stock Down 1.0%

GOOG stock opened at $310.52 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.75 and a quick ratio of 1.75. The company’s 50 day simple moving average is $283.75 and its 200-day simple moving average is $230.33. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $328.67. The firm has a market capitalization of $3.75 trillion, a PE ratio of 30.62, a P/E/G ratio of 1.80 and a beta of 1.07.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Thursday, October 30th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. The firm had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. Alphabet had a return on equity of 35.00% and a net margin of 32.23%.Alphabet’s revenue was up 15.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.12 EPS. Equities analysts expect 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. Investors of record on Monday, December 8th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, December 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is presently 8.28%.

Insider Buying and Selling

In related news, Director Frances Arnold sold 102 shares of the business’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $317.66, for a total value of $32,401.32. Following the completion of the transaction, the director owned 18,104 shares of the company’s stock, valued at approximately $5,750,916.64. The trade was a 0.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $319.50, for a total transaction of $10,383,750.00. Following the sale, the chief executive officer directly owned 2,272,119 shares in the company, valued at $725,942,020.50. This represents a 1.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 228,906 shares of company stock worth $62,127,158. 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.