Rice Partnership LLC Sells 224 Shares of Alphabet Inc. $GOOG

Rice Partnership LLC decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,749 shares of the information services provider’s stock after selling 224 shares during the period. Rice Partnership LLC’s holdings in Alphabet were worth $3,503,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. RDA Financial Network grew its position in shares of Alphabet by 5.3% during the 2nd quarter. RDA Financial Network now owns 11,094 shares of the information services provider’s stock valued at $1,968,000 after acquiring an additional 554 shares during the period. Tower View Wealth Management LLC grew its position in shares of Alphabet by 6.9% during the 2nd quarter. Tower View Wealth Management LLC now owns 27,644 shares of the information services provider’s stock valued at $4,904,000 after acquiring an additional 1,776 shares during the period. Oldfather Financial Services LLC purchased a new position in shares of Alphabet during the 2nd quarter valued at $213,000. Truist Financial Corp lifted its stake in shares of Alphabet by 0.4% during the 2nd quarter. Truist Financial Corp now owns 3,626,927 shares of the information services provider’s stock valued at $643,381,000 after buying an additional 15,065 shares in the last quarter. Finally, GC Wealth Management RIA LLC lifted its stake in shares of Alphabet by 115.7% during the 2nd quarter. GC Wealth Management RIA LLC now owns 214,392 shares of the information services provider’s stock valued at $38,031,000 after buying an additional 115,003 shares in the last quarter. Institutional investors own 27.26% of the company’s stock.

Insider Buying and Selling

In other Alphabet news, insider John Kent Walker sold 17,816 shares of Alphabet stock in a transaction on Monday, September 29th. The shares were sold at an average price of $247.42, for a total value of $4,408,034.72. Following the sale, the insider directly owned 42,985 shares in the company, valued at approximately $10,635,348.70. The trade was a 29.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John L. Hennessy sold 600 shares of the business’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $249.44, for a total transaction of $149,664.00. Following the completion of the sale, the director owned 5,716 shares in the company, valued at approximately $1,425,799.04. This trade represents a 9.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 276,338 shares of company stock worth $59,062,683 in the last 90 days. 12.99% of the stock is owned by company insiders.

Alphabet Stock Performance

Shares of NASDAQ GOOG opened at $237.49 on Monday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The company has a market cap of $2.87 trillion, a P/E ratio of 25.29, a P/E/G ratio of 1.60 and a beta of 1.00. The firm’s fifty day moving average is $226.97 and its two-hundred day moving average is $189.99. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $256.70.

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

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were issued 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 payout ratio is currently 8.95%.

Wall Street Analysts Forecast Growth

GOOG has been the topic of a number of analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of Alphabet in a research note on Wednesday, October 8th. Cowen restated a “buy” rating on shares of Alphabet in a research note on Wednesday. Piper Sandler restated a “neutral” rating on shares of Alphabet in a research note on Wednesday, July 9th. BNP Paribas cut shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, June 26th. Finally, Citizens Jmp upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Thursday, June 26th. Six equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $241.00.

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.