Delta Financial Advisors LLC Sells 626 Shares of Alphabet Inc. $GOOG

Delta Financial Advisors LLC lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 46,626 shares of the information services provider’s stock after selling 626 shares during the quarter. Alphabet makes up approximately 2.9% of Delta Financial Advisors LLC’s holdings, making the stock its 6th largest position. Delta Financial Advisors LLC’s holdings in Alphabet were worth $8,271,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. REDW Wealth LLC lifted its position in Alphabet by 2.3% in the 2nd quarter. REDW Wealth LLC now owns 2,410 shares of the information services provider’s stock valued at $428,000 after purchasing an additional 54 shares during the last quarter. ACT Advisors LLC. increased its stake in shares of Alphabet by 3.5% in the second quarter. ACT Advisors LLC. now owns 1,625 shares of the information services provider’s stock valued at $288,000 after purchasing an additional 55 shares during the period. Moser Wealth Advisors LLC raised its holdings in shares of Alphabet by 2.2% during the second quarter. Moser Wealth Advisors LLC now owns 2,545 shares of the information services provider’s stock valued at $451,000 after buying an additional 55 shares during the last quarter. LongView Wealth Management boosted its position in shares of Alphabet by 1.1% during the second quarter. LongView Wealth Management now owns 5,126 shares of the information services provider’s stock worth $909,000 after buying an additional 56 shares during the period. Finally, Kooman & Associates grew its holdings in Alphabet by 1.4% in the 2nd quarter. Kooman & Associates now owns 4,127 shares of the information services provider’s stock worth $732,000 after buying an additional 56 shares in the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Alphabet

In related news, insider John Kent Walker sold 17,816 shares of Alphabet stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $247.42, for a total value of $4,408,034.72. Following the transaction, the insider owned 42,985 shares of the company’s stock, valued at approximately $10,635,348.70. This trade represents a 29.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $229.73, for a total transaction of $7,466,225.00. Following the sale, the chief executive officer directly owned 2,429,892 shares of the company’s stock, valued at $558,219,089.16. This represents a 1.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 222,396 shares of company stock worth $54,105,275 in the last quarter. 12.99% of the stock is owned by company insiders.

Alphabet Stock Down 2.0%

GOOG stock opened at $279.70 on Monday. The firm has a market cap of $3.38 trillion, a PE ratio of 27.58, 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 $291.93. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The firm has a 50 day simple moving average of $251.81 and a 200 day simple moving average of $205.83.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $99.90 billion. During the same quarter in the prior year, the company earned $2.12 earnings per share. The firm’s revenue was up 15.9% on a year-over-year basis. Equities research analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 8th will be issued 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 of this dividend is Monday, December 8th. Alphabet’s dividend payout ratio is currently 8.28%.

Analyst Ratings Changes

GOOG has been the subject of a number of analyst reports. Mizuho set a $325.00 price target on Alphabet in a research report on Thursday, October 30th. Barclays upped their price objective on shares of Alphabet from $250.00 to $315.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. Scotiabank set a $336.00 target price on shares of Alphabet and gave the company a “sector outperform” rating in a research note on Thursday, October 30th. Piper Sandler boosted their price target on shares of Alphabet from $285.00 to $330.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Alphabet from $260.00 to $300.00 and gave the company an “overweight” rating in a report on Monday, October 27th. Five investment analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $324.81.

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.