Capital Market Strategies LLC Sells 2,454 Shares of Alphabet Inc. $GOOG

Capital Market Strategies LLC decreased its holdings in Alphabet Inc. (NASDAQ:GOOG) by 29.0% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,995 shares of the information services provider’s stock after selling 2,454 shares during the period. Alphabet comprises approximately 0.7% of Capital Market Strategies LLC’s investment portfolio, making the stock its 28th biggest holding. Capital Market Strategies LLC’s holdings in Alphabet were worth $1,063,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of GOOG. JDM Financial Group LLC increased its holdings in shares of Alphabet by 10.6% during the 4th quarter. JDM Financial Group LLC now owns 593 shares of the information services provider’s stock worth $113,000 after buying an additional 57 shares during the last quarter. NCM Capital Management LLC increased its holdings in shares of Alphabet by 2.2% during the 1st quarter. NCM Capital Management LLC now owns 2,802 shares of the information services provider’s stock worth $438,000 after buying an additional 60 shares during the last quarter. Faithward Advisors LLC increased its holdings in shares of Alphabet by 2.5% during the 1st quarter. Faithward Advisors LLC now owns 2,505 shares of the information services provider’s stock worth $391,000 after buying an additional 61 shares during the last quarter. Objectivity Squared LLC increased its holdings in shares of Alphabet by 0.4% during the 1st quarter. Objectivity Squared LLC now owns 16,342 shares of the information services provider’s stock worth $2,605,000 after buying an additional 62 shares during the last quarter. Finally, Tranquility Partners LLC increased its holdings in shares of Alphabet by 0.4% during the 1st quarter. Tranquility Partners LLC now owns 14,488 shares of the information services provider’s stock worth $2,263,000 after buying an additional 63 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on GOOG. Pivotal Research raised their price target on shares of Alphabet from $245.00 to $300.00 and gave the stock a “buy” rating in a report on Wednesday, September 3rd. The Goldman Sachs Group reiterated a “buy” rating and issued a $220.00 target price on shares of Alphabet in a report on Monday, June 2nd. Phillip Securities downgraded shares of Alphabet from a “strong-buy” rating to a “moderate buy” rating in a report on Monday, September 8th. Oppenheimer reiterated an “outperform” rating and issued a $270.00 target price (up previously from $235.00) on shares of Alphabet in a report on Wednesday, September 3rd. Finally, Wells Fargo & Company reiterated an “equal weight” rating on shares of Alphabet in a report on Wednesday, July 9th. Four research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, five have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $227.56.

Insider Buying and Selling at Alphabet

In other news, Director John L. Hennessy sold 1,000 shares of Alphabet stock in a transaction on Friday, August 8th. The shares were sold at an average price of $200.00, for a total transaction of $200,000.00. Following the completion of the sale, the director directly owned 6,916 shares of the company’s stock, valued at approximately $1,383,200. The trade was a 12.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John Kent Walker sold 23,820 shares of Alphabet stock in a transaction on Monday, August 4th. The stock was sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the sale, the insider directly owned 42,999 shares of the company’s stock, valued at approximately $8,371,905.30. This trade represents a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 254,710 shares of company stock worth $49,208,380. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Stock Performance

Shares of GOOG stock opened at $241.38 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 $242.57. The stock has a market capitalization of $2.92 trillion, a PE ratio of 25.71, a P/E/G ratio of 1.62 and a beta of 1.01. The firm has a 50 day moving average of $202.67 and a two-hundred day moving average of $178.83.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating the consensus estimate of $2.12 by $0.19. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The company had revenue of $96.43 billion during the quarter, compared to analysts’ expectations of $93.67 billion. During the same quarter last year, the company posted $1.89 EPS. The firm’s revenue was up 13.8% compared to the same quarter last year. On average, research analysts predict that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet’s dividend payout ratio (DPR) is currently 8.95%.

Alphabet 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.