Frank Rimerman Advisors LLC Sells 1,772 Shares of Alphabet Inc. $GOOG

Frank Rimerman Advisors LLC lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.2% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 141,384 shares of the information services provider’s stock after selling 1,772 shares during the quarter. Alphabet makes up 1.7% of Frank Rimerman Advisors LLC’s holdings, making the stock its 13th biggest position. Frank Rimerman Advisors LLC’s holdings in Alphabet were worth $25,080,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of GOOG. IFS Advisors LLC lifted its holdings in shares of Alphabet by 400.0% in the 2nd quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock worth $27,000 after acquiring an additional 120 shares during the last quarter. Robbins Farley raised its position in Alphabet by 60.0% in the 2nd quarter. Robbins Farley now owns 160 shares of the information services provider’s stock worth $28,000 after purchasing an additional 60 shares during the period. WestEnd Advisors LLC lifted its stake in Alphabet by 58.7% in 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 during the last quarter. Fairman Group LLC boosted its position in shares of Alphabet by 121.3% during the second quarter. Fairman Group LLC now owns 177 shares of the information services provider’s stock valued at $31,000 after buying an additional 97 shares during the period. Finally, Horrell Capital Management Inc. grew its stake in shares of Alphabet by 100.0% during the second quarter. Horrell Capital Management Inc. now owns 200 shares of the information services provider’s stock valued at $35,000 after buying an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 954 shares of the firm’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $282.33, for a total transaction of $269,342.82. Following the sale, the chief accounting officer owned 14,517 shares of the company’s stock, valued at $4,098,584.61. This trade represents a 6.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $283.48, for a total transaction of $9,213,100.00. Following the completion of the transaction, the chief executive officer owned 2,337,119 shares of the company’s stock, valued at $662,526,494.12. This represents a 1.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 222,396 shares of company stock worth $54,151,037 over the last quarter. Insiders own 12.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on GOOG shares. Mizuho set a $325.00 price target on Alphabet in a research note on Thursday, October 30th. Bank of America lifted their target price on Alphabet from $280.00 to $335.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. UBS Group reissued a “neutral” rating on shares of Alphabet in a research note on Thursday, October 30th. BMO Capital Markets restated an “outperform” rating and issued a $340.00 price target on shares of Alphabet in a report on Thursday, October 30th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Alphabet in a report on Wednesday, October 8th. Six equities research analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, four have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $324.81.

Alphabet Stock Up 3.1%

NASDAQ:GOOG opened at $285.60 on Tuesday. 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 Inc. has a 1-year low of $142.66 and a 1-year high of $294.52. The company has a 50-day moving average of $258.86 and a 200 day moving average of $211.03. The firm has a market cap of $3.45 trillion, a PE ratio of 28.17, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05.

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

Alphabet Announces Dividend

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

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.