Alphabet Inc. $GOOG Shares Sold by Pure Portfolios Holdings LLC

Pure Portfolios Holdings LLC lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.8% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,958 shares of the information services provider’s stock after selling 291 shares during the quarter. Pure Portfolios Holdings LLC’s holdings in Alphabet were worth $1,766,000 as of its most recent filing with the SEC.

Other institutional investors also recently added to or reduced their stakes in the company. MorganRosel Wealth Management LLC acquired a new stake in Alphabet during the first quarter worth approximately $26,000. IFS Advisors LLC raised its holdings in Alphabet by 400.0% during the second quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock worth $27,000 after purchasing an additional 120 shares in the last quarter. Robbins Farley raised its holdings 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 in the last quarter. WestEnd Advisors LLC raised its holdings in Alphabet by 58.7% during the second quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock worth $29,000 after purchasing an additional 61 shares in the last quarter. Finally, Goodman Advisory Group LLC acquired a new stake in Alphabet during the first quarter worth approximately $32,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insider Activity at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $184.38, for a total value of $5,992,350.00. Following the transaction, the chief executive officer directly owned 2,527,392 shares in the company, valued at $466,000,536.96. This trade represents a 1.27% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Kavitark Ram Shriram sold 18,566 shares of Alphabet stock in a transaction on Friday, July 18th. The shares were sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the completion of the transaction, the director owned 243,400 shares in the company, valued at approximately $45,213,984. This trade represents a 7.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 276,738 shares of company stock worth $59,135,475 in the last three months. Insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

Shares of Alphabet stock opened at $237.49 on Friday. The firm’s fifty day simple moving average is $226.97 and its 200-day simple moving average is $189.66. The stock has a market capitalization of $2.87 trillion, a price-to-earnings ratio of 25.29, a PEG ratio of 1.63 and a beta of 1.00. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $256.70. 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 (NASDAQ:GOOG) last announced its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating analysts’ consensus estimates of $2.12 by $0.19. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The business had revenue of $96.43 billion for the quarter, compared to analysts’ expectations of $93.67 billion. During the same period in the previous year, the company posted $1.89 EPS. The company’s quarterly revenue was up 13.8% on a year-over-year basis. As a group, equities analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date was Monday, September 8th. Alphabet’s dividend payout ratio (DPR) is 8.95%.

Analyst Ratings Changes

A number of analysts have weighed in on GOOG shares. Wells Fargo & Company reissued an “equal weight” rating on shares of Alphabet in a report on Wednesday, July 9th. UBS Group set a $255.00 price objective on shares of Alphabet and gave the stock a “neutral” rating in a report on Thursday. Jefferies Financial Group raised their price objective on shares of Alphabet from $230.00 to $285.00 and gave the stock a “buy” rating in a report on Thursday, October 2nd. Lake Street Capital reissued a “buy” rating on shares of Alphabet in a report on Wednesday, July 9th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Alphabet from $232.00 to $260.00 and gave the company an “overweight” rating in a report on Wednesday, September 3rd. Six analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $241.00.

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.