Asset Advisors Investment Management LLC Sells 350 Shares of Alphabet Inc. $GOOG

Asset Advisors Investment Management LLC lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 9.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,497 shares of the information services provider’s stock after selling 350 shares during the period. Asset Advisors Investment Management LLC’s holdings in Alphabet were worth $620,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its holdings in shares of Alphabet by 5.6% during the 4th quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider’s stock valued at $22,901,000 after purchasing an additional 6,410 shares in the last quarter. Revisor Wealth Management LLC lifted its holdings in shares of Alphabet by 107.9% during the 1st quarter. Revisor Wealth Management LLC now owns 3,659 shares of the information services provider’s stock valued at $572,000 after purchasing an additional 1,899 shares in the last quarter. Princeton Global Asset Management LLC lifted its holdings in shares of Alphabet by 2.1% during the 1st quarter. Princeton Global Asset Management LLC now owns 35,274 shares of the information services provider’s stock valued at $5,511,000 after purchasing an additional 710 shares in the last quarter. Perkins Coie Trust Co lifted its holdings in shares of Alphabet by 7.5% during the 1st quarter. Perkins Coie Trust Co now owns 5,143 shares of the information services provider’s stock valued at $803,000 after purchasing an additional 357 shares in the last quarter. Finally, Principia Wealth Advisory LLC lifted its holdings in shares of Alphabet by 111.8% during the 1st quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 85 shares in the last quarter. Institutional investors own 27.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on GOOG. Barclays reiterated a “buy” rating on shares of Alphabet in a report on Wednesday, July 9th. Cowen restated a “buy” rating on shares of Alphabet in a research note on Wednesday, July 9th. Phillip Securities cut Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research note on Monday, September 8th. Pivotal Research boosted their target price on Alphabet from $245.00 to $300.00 and gave the company a “buy” rating in a research note on Wednesday, September 3rd. Finally, Oppenheimer restated an “outperform” rating and issued a $270.00 target price (up previously from $235.00) on shares of Alphabet in a research note on Wednesday, September 3rd. Five 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $235.33.

Alphabet Stock Up 0.0%

GOOG stock opened at $246.45 on Monday. The business’s 50 day simple moving average is $221.89 and its 200 day simple moving average is $187.31. The firm has a market capitalization of $2.98 trillion, a PE ratio of 26.25, a PEG ratio of 1.66 and a beta of 1.00. 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.

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

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were paid 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 8.95%.

Insiders Place Their Bets

In other news, CAO Amie Thuener O’toole sold 953 shares of the company’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $241.20, for a total transaction of $229,863.60. Following the completion of the sale, the chief accounting officer directly owned 17,294 shares in the company, valued at approximately $4,171,312.80. This represents a 5.22% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Frances Arnold sold 103 shares of the company’s stock in a transaction on Tuesday, September 30th. The shares were sold at an average price of $243.13, for a total value of $25,042.39. Following the sale, the director owned 17,284 shares of the company’s stock, valued at approximately $4,202,258.92. The trade was a 0.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 276,738 shares of company stock worth $59,135,475 over the last three months. 12.99% of the stock is currently owned by corporate insiders.

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.