Alphabet Inc. $GOOG Shares Sold by Intrinsic Value Partners LLC

Intrinsic Value Partners LLC trimmed its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,393 shares of the information services provider’s stock after selling 785 shares during the quarter. Alphabet makes up about 7.8% of Intrinsic Value Partners LLC’s portfolio, making the stock its 2nd largest holding. Intrinsic Value Partners LLC’s holdings in Alphabet were worth $8,762,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently modified their holdings of the company. Segment Wealth Management LLC boosted its holdings in shares of Alphabet by 3.3% during the 2nd quarter. Segment Wealth Management LLC now owns 44,739 shares of the information services provider’s stock valued at $7,936,000 after acquiring an additional 1,437 shares in the last quarter. Financial Council LLC raised its position in Alphabet by 0.9% in the second quarter. Financial Council LLC now owns 6,659 shares of the information services provider’s stock valued at $1,181,000 after purchasing an additional 61 shares during the last quarter. Fortis Capital Advisors LLC raised its position in Alphabet by 3.0% in the second quarter. Fortis Capital Advisors LLC now owns 21,848 shares of the information services provider’s stock valued at $3,876,000 after purchasing an additional 643 shares during the last quarter. Jackson Wealth Management LLC boosted its stake in shares of Alphabet by 0.3% during the second quarter. Jackson Wealth Management LLC now owns 41,560 shares of the information services provider’s stock valued at $7,372,000 after purchasing an additional 108 shares in the last quarter. Finally, Franklin Street Advisors Inc. NC grew its holdings in shares of Alphabet by 0.8% during the second quarter. Franklin Street Advisors Inc. NC now owns 338,236 shares of the information services provider’s stock worth $60,000,000 after purchasing an additional 2,716 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on GOOG. Oppenheimer reiterated an “outperform” rating and issued a $270.00 price objective (up previously from $235.00) on shares of Alphabet in a report on Wednesday, September 3rd. Citizens Jmp upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a report on Thursday, June 26th. KeyCorp set a $265.00 price objective on shares of Alphabet in a research note on Wednesday, September 3rd. UBS Group raised their target price on Alphabet from $186.00 to $192.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 16th. Finally, Phillip Securities downgraded Alphabet from a “strong-buy” rating to a “moderate buy” rating in a report on Monday, September 8th. Five equities research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and an average price target of $235.33.

Alphabet Stock Performance

Shares of Alphabet stock opened at $251.51 on Tuesday. The business has a 50-day moving average price of $223.05 and a two-hundred day moving average price of $187.91. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $256.70. 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 company has a market cap of $3.04 trillion, a P/E ratio of 26.78, a PEG ratio of 1.66 and a beta of 1.00.

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

Alphabet Announces Dividend

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

Insider Buying and Selling

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $243.41, for a total value of $7,910,825.00. Following the completion of the sale, the chief executive officer directly owned 2,402,119 shares of the company’s stock, valued at approximately $584,699,785.79. The trade was a 1.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Frances Arnold sold 103 shares of the stock in a transaction dated Tuesday, September 30th. The stock was sold at an average price of $243.13, for a total transaction of $25,042.39. Following the transaction, the director directly owned 17,284 shares in the company, valued at $4,202,258.92. This trade represents a 0.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 276,738 shares of company stock worth $59,135,475 over the last ninety days. 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.