Boston Common Asset Management LLC Sells 2,389 Shares of Alphabet Inc. $GOOG

Boston Common Asset Management LLC lowered its stake in Alphabet Inc. (NASDAQ:GOOG) by 1.5% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 157,547 shares of the information services provider’s stock after selling 2,389 shares during the quarter. Boston Common Asset Management LLC’s holdings in Alphabet were worth $27,947,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in GOOG. Silvia Mccoll Wealth Management LLC increased its holdings in shares of Alphabet by 0.8% in the second quarter. Silvia Mccoll Wealth Management LLC now owns 7,736 shares of the information services provider’s stock worth $1,372,000 after purchasing an additional 60 shares during the last quarter. Diligent Investors LLC grew its holdings in Alphabet by 33.8% during the 2nd quarter. Diligent Investors LLC now owns 5,961 shares of the information services provider’s stock valued at $1,057,000 after buying an additional 1,506 shares in the last quarter. Penobscot Investment Management Company Inc. increased its stake in Alphabet by 1.4% in the 2nd quarter. Penobscot Investment Management Company Inc. now owns 64,557 shares of the information services provider’s stock worth $11,452,000 after acquiring an additional 885 shares during the last quarter. Signature Wealth Management Partners LLC raised its holdings in shares of Alphabet by 3.4% during the 2nd quarter. Signature Wealth Management Partners LLC now owns 4,867 shares of the information services provider’s stock worth $863,000 after acquiring an additional 159 shares in the last quarter. Finally, Yoder Wealth Management Inc. raised its holdings in shares of Alphabet by 11.6% during the 2nd quarter. Yoder Wealth Management Inc. now owns 7,285 shares of the information services provider’s stock worth $1,292,000 after acquiring an additional 759 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insider Activity

In other news, insider John Kent Walker sold 17,816 shares of the company’s stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $247.42, for a total value of $4,408,034.72. Following the transaction, the insider directly owned 42,985 shares in the company, valued at approximately $10,635,348.70. This represents a 29.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 953 shares of Alphabet stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $241.20, for a total transaction of $229,863.60. Following the sale, the chief accounting officer owned 17,294 shares of the company’s stock, valued at $4,171,312.80. The trade was a 5.22% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 276,738 shares of company stock valued at $59,135,475. Insiders own 12.99% of the company’s stock.

Analyst Ratings Changes

GOOG has been the subject of a number of recent research reports. BNP Paribas lowered shares of Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, June 26th. UBS Group boosted their target price on shares of Alphabet from $186.00 to $192.00 and gave the stock a “neutral” rating in a report on Wednesday, July 16th. Jefferies Financial Group upped their target price on shares of Alphabet from $230.00 to $285.00 and gave the company a “buy” rating in a research report on Thursday, October 2nd. Robert W. Baird increased their price target on shares of Alphabet from $215.00 to $275.00 and gave the company an “outperform” rating in a report on Monday, September 22nd. Finally, Barclays reissued a “buy” rating on shares of Alphabet in a research note on Wednesday, July 9th. 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 company’s stock. According to MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and a consensus price target of $235.33.

Alphabet Stock Up 2.1%

Shares of NASDAQ GOOG opened at $251.51 on Tuesday. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $256.70. The firm has a 50-day simple moving average of $223.05 and a two-hundred day simple moving average of $187.91. 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. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping 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 firm had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.67 billion. During the same period in the prior year, the business posted $1.89 earnings per share. The company’s revenue for the quarter was up 13.8% on a year-over-year basis. Research analysts anticipate 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 was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Monday, September 8th. Alphabet’s dividend payout ratio (DPR) is 8.95%.

Alphabet Company 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.