Berger Financial Group Inc Sells 358 Shares of Alphabet Inc. $GOOG

Berger Financial Group Inc reduced its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,781 shares of the information services provider’s stock after selling 358 shares during the period. Berger Financial Group Inc’s holdings in Alphabet were worth $2,622,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. MorganRosel Wealth Management LLC bought a new position in Alphabet during the first quarter worth about $26,000. Robbins Farley grew 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 worth $28,000 after purchasing an additional 60 shares in the last quarter. Goodman Advisory Group LLC acquired a new position in shares of Alphabet during the 1st quarter worth approximately $32,000. Greykasell Wealth Strategies Inc. bought a new position in shares of Alphabet during the first quarter worth approximately $32,000. Finally, Elevate Wealth Advisory Inc. acquired a new stake in shares of Alphabet in the first quarter valued at approximately $34,000. Institutional investors own 27.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Barclays reissued a “buy” rating on shares of Alphabet in a research report on Wednesday, July 9th. Wells Fargo & Company reissued an “equal weight” rating on shares of Alphabet in a report on Wednesday, July 9th. Pivotal Research boosted their price target on Alphabet from $245.00 to $300.00 and gave the company a “buy” rating in a research note on Wednesday, September 3rd. Cowen reiterated a “buy” rating on shares of Alphabet in a research note on Wednesday, July 9th. Finally, UBS Group raised their target price on shares of Alphabet from $186.00 to $192.00 and gave the company a “neutral” rating in a report on Wednesday, July 16th. Five 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 assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $235.33.

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $184.38, for a total value of $5,992,350.00. Following the completion of the transaction, the chief executive officer directly owned 2,527,392 shares in the company, valued at approximately $466,000,536.96. This trade represents a 1.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kavitark Ram Shriram sold 18,566 shares of Alphabet stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $185.76, for a total value of $3,448,820.16. Following the sale, the director directly owned 243,400 shares in the company, valued at $45,213,984. The trade was a 7.09% 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 valued at $59,135,475 in the last 90 days. Corporate insiders own 12.99% of the company’s stock.

Alphabet Stock Up 2.1%

GOOG stock opened at $251.51 on Tuesday. The firm has a 50-day moving average price of $223.05 and a 200-day moving average price of $187.91. Alphabet Inc. has a 12 month low of $142.66 and a 12 month 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 stock has a market capitalization of $3.04 trillion, a P/E ratio of 26.78, a price-to-earnings-growth ratio of 1.66 and a beta of 1.00.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data 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 net margin of 31.12% and a return on equity of 34.31%. The business had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.67 billion. During the same quarter in the prior year, the firm earned $1.89 EPS. The firm’s revenue was up 13.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Announces Dividend

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

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.