Alphabet Inc. $GOOG Holdings Lowered by Wambolt & Associates LLC

Wambolt & Associates LLC lowered its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,656 shares of the information services provider’s stock after selling 977 shares during the quarter. Alphabet makes up 2.2% of Wambolt & Associates LLC’s portfolio, making the stock its 7th biggest holding. Wambolt & Associates LLC’s holdings in Alphabet were worth $6,485,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. RDA Financial Network lifted its position in Alphabet by 5.3% in the second quarter. RDA Financial Network now owns 11,094 shares of the information services provider’s stock worth $1,968,000 after buying an additional 554 shares during the last quarter. Bleakley Financial Group LLC grew its holdings in Alphabet by 1.4% during the 2nd quarter. Bleakley Financial Group LLC now owns 170,020 shares of the information services provider’s stock valued at $30,160,000 after purchasing an additional 2,304 shares during the last quarter. Oldfather Financial Services LLC purchased a new stake in Alphabet in the 2nd quarter worth about $213,000. Tower View Wealth Management LLC lifted its stake in Alphabet by 6.9% in the second quarter. Tower View Wealth Management LLC now owns 27,644 shares of the information services provider’s stock worth $4,904,000 after purchasing an additional 1,776 shares during the last quarter. Finally, Dock Street Asset Management Inc. boosted its position in shares of Alphabet by 0.8% during the second quarter. Dock Street Asset Management Inc. now owns 234,306 shares of the information services provider’s stock valued at $41,563,000 after buying an additional 1,970 shares during the period. Institutional investors own 27.26% of the company’s stock.

Alphabet Stock Performance

Shares of GOOG opened at $323.64 on Wednesday. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The firm has a market cap of $3.91 trillion, a PE ratio of 31.92, a P/E/G ratio of 1.86 and a beta of 1.05. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $328.67. The stock has a fifty day moving average price of $265.76 and a 200-day moving average price of $217.01.

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

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 8th will be given 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 yield of 0.3%. Alphabet’s payout ratio is currently 8.28%.

Wall Street Analysts Forecast Growth

GOOG has been the topic of several recent analyst reports. HSBC reiterated a “buy” rating and issued a $335.00 price target on shares of Alphabet in a report on Thursday, October 30th. BNP Paribas started coverage on shares of Alphabet in a research note on Monday. They set an “outperform” rating for the company. Piper Sandler upped their target price on Alphabet from $285.00 to $330.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. Sanford C. Bernstein lifted their price objective on Alphabet from $260.00 to $305.00 and gave the company an “outperform” rating in a report on Thursday, October 30th. Finally, JPMorgan Chase & Co. raised their target price on shares of Alphabet from $260.00 to $300.00 and gave the company an “overweight” rating in a research report on Monday, October 27th. Seven research analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $304.62.

Insider Buying and Selling

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $250.15, for a total transaction of $8,129,875.00. Following the completion of the sale, the chief executive officer directly owned 2,369,619 shares in the company, valued at approximately $592,760,192.85. The trade was a 1.35% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 2,778 shares of the company’s stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $250.05, for a total transaction of $694,638.90. Following the completion of the sale, the chief accounting officer directly owned 14,516 shares in the company, valued at approximately $3,629,725.80. The trade was a 16.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 227,952 shares of company stock worth $58,896,009. 12.99% of the stock is owned by company insiders.

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.