Flossbach Von Storch SE Sells 220 Shares of Alphabet Inc. $GOOG

Flossbach Von Storch SE lessened its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 10.0% in the second quarter, HoldingsChannel.com reports. The firm owned 1,989 shares of the information services provider’s stock after selling 220 shares during the quarter. Flossbach Von Storch SE’s holdings in Alphabet were worth $353,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in GOOG. Brighton Jones LLC grew its stake in Alphabet by 5.6% during the fourth quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider’s stock worth $22,901,000 after purchasing an additional 6,410 shares during the period. Financial Security Advisor Inc. boosted its holdings in shares of Alphabet by 2.4% during the 1st quarter. Financial Security Advisor Inc. now owns 6,957 shares of the information services provider’s stock worth $1,087,000 after buying an additional 165 shares in the last quarter. Fulton Breakefield Broenniman LLC grew its position in shares of Alphabet by 15.7% during the 1st quarter. Fulton Breakefield Broenniman LLC now owns 12,526 shares of the information services provider’s stock worth $1,957,000 after buying an additional 1,698 shares during the period. Westmount Partners LLC increased its stake in shares of Alphabet by 5.9% in the 1st quarter. Westmount Partners LLC now owns 13,573 shares of the information services provider’s stock valued at $2,121,000 after acquiring an additional 751 shares in the last quarter. Finally, Rainey & Randall Wealth Advisors Inc. acquired a new position in shares of Alphabet during the 1st quarter valued at $608,000. Institutional investors own 27.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. TD Cowen raised their price target on shares of Alphabet from $270.00 to $280.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. DA Davidson set a $825.00 target price on Alphabet in a research note on Monday, October 27th. Robert W. Baird boosted their target price on Alphabet from $215.00 to $275.00 and gave the company an “outperform” rating in a research report on Monday, September 22nd. HSBC reiterated a “buy” rating and issued a $335.00 price target on shares of Alphabet in a report on Thursday, October 30th. Finally, Jefferies Financial Group boosted their price objective on Alphabet from $285.00 to $320.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Five research analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $324.81.

Alphabet Stock Down 2.0%

GOOG stock opened at $279.70 on Monday. The firm has a market capitalization of $3.38 trillion, a PE ratio of 27.58, a P/E/G ratio of 1.86 and a beta of 1.05. 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 twelve month low of $142.66 and a twelve month high of $291.93. The stock’s 50 day moving average is $251.81 and its 200-day moving average is $205.83.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The business had revenue of $102.35 billion during the quarter, compared to analyst estimates of $99.90 billion. During the same period in the prior year, the firm posted $2.12 EPS. Alphabet’s quarterly revenue was up 15.9% compared to the same quarter last year. Sell-side analysts expect that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Monday, December 8th. Alphabet’s dividend payout ratio (DPR) is presently 8.28%.

Insider Buying and Selling

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $229.73, for a total value of $7,466,225.00. Following the completion of the sale, the chief executive officer directly owned 2,429,892 shares of the company’s stock, valued at approximately $558,219,089.16. This represents a 1.32% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 2,778 shares of Alphabet stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $245.00, for a total transaction of $680,610.00. Following the transaction, the chief accounting officer directly owned 17,293 shares in the company, valued at approximately $4,236,785. This represents a 13.84% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 222,396 shares of company stock worth $54,105,275. 12.99% of the stock is owned by insiders.

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.