111 Capital Sells 19,033 Shares of Alphabet Inc. $GOOG

111 Capital cut its position in Alphabet Inc. (NASDAQ:GOOG) by 46.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,074 shares of the information services provider’s stock after selling 19,033 shares during the quarter. Alphabet comprises 0.7% of 111 Capital’s investment portfolio, making the stock its 24th biggest position. 111 Capital’s holdings in Alphabet were worth $3,916,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. MorganRosel Wealth Management LLC purchased a new position in Alphabet during the first quarter worth about $26,000. Robbins Farley boosted its position in shares of Alphabet by 60.0% during the 2nd quarter. Robbins Farley now owns 160 shares of the information services provider’s stock valued at $28,000 after acquiring an additional 60 shares during the last quarter. Goodman Advisory Group LLC purchased a new position in shares of Alphabet during the first quarter worth about $32,000. Greykasell Wealth Strategies Inc. purchased a new position in shares of Alphabet during the first quarter worth about $32,000. Finally, Elevate Wealth Advisory Inc. bought a new position in shares of Alphabet in the first quarter worth approximately $34,000. 27.26% of the stock is owned by institutional investors.

Alphabet Stock Performance

NASDAQ GOOG opened at $251.51 on Tuesday. The company has a 50-day simple moving average of $223.05 and a two-hundred day simple moving average of $187.91. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $256.70. The firm has a market cap of $3.04 trillion, a price-to-earnings ratio of 26.78, a PEG ratio of 1.66 and a beta of 1.00. 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 (NASDAQ:GOOG) last released its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $2.12 by $0.19. The company had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.67 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.Alphabet’s revenue for the quarter was up 13.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.89 EPS. On average, equities analysts forecast that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were given a $0.21 dividend. The ex-dividend date was Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.3%. Alphabet’s payout ratio is presently 8.95%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on GOOG shares. Raymond James Financial reissued an “outperform” rating and issued a $210.00 price target (up previously from $185.00) on shares of Alphabet in a research note on Thursday, July 24th. BNP Paribas cut Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, June 26th. Oppenheimer restated an “outperform” rating and set a $270.00 price target (up previously from $235.00) on shares of Alphabet in a research report on Wednesday, September 3rd. JPMorgan Chase & Co. lifted their price target on Alphabet from $232.00 to $260.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 3rd. Finally, Scotiabank increased their price objective on Alphabet from $200.00 to $240.00 and gave the company a “sector outperform” rating in a research report on Tuesday, July 22nd. Five investment analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and a consensus price target of $235.33.

Insider Activity

In other Alphabet news, insider John Kent Walker sold 17,816 shares of the firm’s 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 owned 42,985 shares of the company’s stock, valued at $10,635,348.70. This trade represents a 29.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John L. Hennessy sold 600 shares of the business’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $249.44, for a total transaction of $149,664.00. Following the completion of the transaction, the director owned 5,716 shares in the company, valued at $1,425,799.04. The trade was a 9.50% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 276,738 shares of company stock valued at $59,135,475. Corporate insiders own 12.99% of the company’s stock.

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.