Tranquilli Financial Advisor LLC Reduces Position in Alphabet Inc. (NASDAQ:GOOG)

Tranquilli Financial Advisor LLC cut its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 3.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,194 shares of the information services provider’s stock after selling 226 shares during the quarter. Tranquilli Financial Advisor LLC’s holdings in Alphabet were worth $968,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in GOOG. JDM Financial Group LLC lifted its holdings in Alphabet by 10.6% in the fourth quarter. JDM Financial Group LLC now owns 593 shares of the information services provider’s stock valued at $113,000 after acquiring an additional 57 shares during the last quarter. Objectivity Squared LLC raised its position in Alphabet by 0.4% in the first quarter. Objectivity Squared LLC now owns 16,342 shares of the information services provider’s stock valued at $2,605,000 after purchasing an additional 62 shares during the period. Tranquility Partners LLC lifted its stake in shares of Alphabet by 0.4% in the 1st quarter. Tranquility Partners LLC now owns 14,488 shares of the information services provider’s stock valued at $2,263,000 after purchasing an additional 63 shares during the last quarter. Stonebridge Financial Group LLC grew its holdings in shares of Alphabet by 0.6% during the 1st quarter. Stonebridge Financial Group LLC now owns 10,648 shares of the information services provider’s stock worth $1,664,000 after purchasing an additional 64 shares during the period. Finally, True Wealth Design LLC grew its holdings in shares of Alphabet by 28.5% during the 4th quarter. True Wealth Design LLC now owns 293 shares of the information services provider’s stock worth $56,000 after purchasing an additional 65 shares during the period. 27.26% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Up 2.4%

Shares of Alphabet stock opened at $202.11 on Monday. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $208.70. The company has a 50 day moving average of $181.90 and a 200 day moving average of $174.35. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $2.44 trillion, a P/E ratio of 21.52, a P/E/G ratio of 1.34 and a beta of 1.02.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $93.67 billion. During the same quarter in the previous year, the firm earned $1.89 earnings per share. The firm’s quarterly revenue was up 13.8% on a year-over-year basis. As a group, research analysts forecast that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be paid a $0.21 dividend. The ex-dividend date is Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.4%. Alphabet’s payout ratio is currently 8.95%.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $178.52, for a total value of $5,801,900.00. Following the completion of the transaction, the chief executive officer owned 2,559,892 shares in the company, valued at $456,991,919.84. The trade was a 1.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kavitark Ram Shriram sold 18,566 shares of Alphabet stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the completion of the transaction, the director owned 243,400 shares of the company’s stock, valued at $45,213,984. This represents a 7.09% decrease in their position. The disclosure for this sale can be found here. Insiders sold 273,219 shares of company stock worth $49,474,273 over the last 90 days. 12.99% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have commented on GOOG. BNP Paribas cut shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, June 26th. UBS Group upped their price objective on shares of Alphabet from $186.00 to $192.00 and gave the stock a “neutral” rating in a report on Wednesday, July 16th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $220.00 price objective on shares of Alphabet in a research report on Monday, June 2nd. Pivotal Research boosted their target price on Alphabet from $225.00 to $245.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. Finally, Raymond James Financial restated an “outperform” rating and set a $210.00 price target (up from $185.00) on shares of Alphabet in a research note on Thursday, July 24th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have issued a buy rating and five have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $215.19.

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.