Alphabet Inc. $GOOG Shares Sold by VestGen Advisors LLC

VestGen Advisors LLC trimmed its position in Alphabet Inc. (NASDAQ:GOOG) by 4.2% in the 2nd quarter, HoldingsChannel reports. The firm owned 109,870 shares of the information services provider’s stock after selling 4,829 shares during the quarter. Alphabet makes up about 0.8% of VestGen Advisors LLC’s portfolio, making the stock its 26th largest position. VestGen Advisors LLC’s holdings in Alphabet were worth $19,962,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of GOOG. Greenwich Wealth Management LLC increased its holdings in Alphabet by 677.1% in the 2nd quarter. Greenwich Wealth Management LLC now owns 83,197 shares of the information services provider’s stock worth $14,758,000 after buying an additional 72,491 shares during the period. Millington Financial Advisors LLC lifted its stake in Alphabet by 11.8% during the 2nd quarter. Millington Financial Advisors LLC now owns 2,015 shares of the information services provider’s stock valued at $386,000 after acquiring an additional 213 shares during the period. Orleans Capital Management Corp LA purchased a new stake in shares of Alphabet in the 2nd quarter valued at $364,000. BLI Banque de Luxembourg Investments acquired a new stake in shares of Alphabet in the second quarter worth $7,824,000. Finally, Stablepoint Partners LLC increased its stake in shares of Alphabet by 2.6% in the second quarter. Stablepoint Partners LLC now owns 11,395 shares of the information services provider’s stock worth $2,021,000 after acquiring an additional 293 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insider Activity

In related news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $250.15, for a total value of $8,129,875.00. Following the sale, the chief executive officer owned 2,369,619 shares of the company’s stock, valued at approximately $592,760,192.85. This trade represents a 1.35% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John Kent Walker sold 17,816 shares of the business’s stock in a transaction on Monday, September 29th. The stock was sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the completion of the sale, the insider directly owned 42,985 shares of the company’s stock, valued at approximately $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 have sold 227,850 shares of company stock worth $58,874,814 in the last quarter. Corporate insiders own 12.99% of the company’s stock.

Alphabet Price Performance

NASDAQ:GOOG opened at $319.95 on Friday. 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 52 week low of $142.66 and a 52 week high of $328.67. The stock’s 50-day moving average price is $269.82 and its 200-day moving average price is $219.97. The stock has a market capitalization of $3.86 trillion, a PE ratio of 31.55, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Thursday, October 30th. The information services provider reported $2.87 earnings per share for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. The company had revenue of $102.35 billion during the quarter, compared to analysts’ expectations of $99.90 billion. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.Alphabet’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.12 EPS. As a group, equities analysts expect that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Canaccord Genuity Group restated a “buy” rating and set a $330.00 target price on shares of Alphabet in a research report on Thursday, October 30th. Scotiabank set a $336.00 price objective on Alphabet and gave the company a “sector outperform” rating in a research note on Thursday, October 30th. BNP Paribas began coverage on Alphabet in a report on Monday, November 24th. They issued an “outperform” rating for the company. Raymond James Financial set a $275.00 target price on Alphabet and gave the stock an “outperform” rating in a report on Friday, October 24th. Finally, Cantor Fitzgerald set a $310.00 price target on Alphabet and gave the company a “neutral” rating in a research report on Thursday, October 30th. Seven equities research analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $304.62.

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.