Alphabet Inc. $GOOG Holdings Lessened by Parker Investment Management LLC

Parker Investment Management LLC reduced its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 215,657 shares of the information services provider’s stock after selling 1,320 shares during the period. Alphabet comprises 5.3% of Parker Investment Management LLC’s portfolio, making the stock its 5th largest holding. Parker Investment Management LLC’s holdings in Alphabet were worth $38,255,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. IFS Advisors LLC increased its stake 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 purchasing an additional 120 shares in the last quarter. Robbins Farley lifted its position in Alphabet by 60.0% during the second quarter. Robbins Farley now owns 160 shares of the information services provider’s stock valued at $28,000 after purchasing an additional 60 shares in the last quarter. WestEnd Advisors LLC grew its holdings in Alphabet by 58.7% during the second quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock valued at $29,000 after purchasing an additional 61 shares during the period. Fairman Group LLC increased its position in Alphabet by 121.3% in the second quarter. Fairman Group LLC now owns 177 shares of the information services provider’s stock worth $31,000 after buying an additional 97 shares in the last quarter. Finally, Greykasell Wealth Strategies Inc. bought a new position in shares of Alphabet in the first quarter worth about $32,000. 27.26% of the stock is currently owned by institutional investors.

Insider Transactions at Alphabet

In other Alphabet news, Director Frances Arnold sold 112 shares of the company’s stock in a transaction on Thursday, October 30th. The stock was sold at an average price of $291.80, for a total value of $32,681.60. Following the transaction, the director owned 18,004 shares of the company’s stock, valued at $5,253,567.20. This represents a 0.62% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 954 shares of Alphabet stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $282.33, for a total value of $269,342.82. Following the sale, the chief accounting officer owned 14,517 shares of the company’s stock, valued at approximately $4,098,584.61. This trade represents a 6.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 221,796 shares of company stock valued at $53,983,001. Company insiders own 12.99% of the company’s stock.

Alphabet Stock Down 0.8%

NASDAQ GOOG opened at $276.98 on Friday. 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 52 week low of $142.66 and a 52 week high of $292.36. The firm has a market capitalization of $3.34 trillion, a price-to-earnings ratio of 27.32, a PEG ratio of 1.86 and a beta of 1.05. The company has a fifty day moving average of $257.84 and a two-hundred day moving average of $209.82.

Alphabet (NASDAQ:GOOG) last released its earnings results on Thursday, October 30th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $102.35 billion during the quarter, compared to analyst estimates of $99.90 billion. During the same quarter last year, the business earned $2.12 EPS. The business’s revenue was up 15.9% on a year-over-year basis. On average, analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Hsbc Global Res upgraded Alphabet to a “strong-buy” rating in a research note on Tuesday, October 7th. JPMorgan Chase & Co. lifted their price target on shares of Alphabet from $260.00 to $300.00 and gave the company an “overweight” rating in a report on Monday, October 27th. Morgan Stanley increased their price objective on shares of Alphabet from $210.00 to $270.00 and gave the stock an “overweight” rating in a research note on Thursday, October 2nd. DA Davidson set a $825.00 target price on shares of Alphabet in a research note on Monday, October 27th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Alphabet in a research note 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 issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $324.81.

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.