Fairvoy Private Wealth LLC Sells 213 Shares of Alphabet Inc. $GOOG

Fairvoy Private Wealth LLC cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 3.9% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 5,277 shares of the information services provider’s stock after selling 213 shares during the period. Fairvoy Private Wealth LLC’s holdings in Alphabet were worth $936,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Kingstone Capital Partners Texas LLC boosted its holdings in shares of Alphabet by 580,897.4% in the second quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider’s stock valued at $23,963,208,000 after buying an additional 135,064,454 shares during the period. Nuveen LLC bought a new stake in Alphabet in the 1st quarter valued at $2,622,943,000. Vanguard Group Inc. boosted its stake in Alphabet by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider’s stock worth $64,299,725,000 after purchasing an additional 9,687,855 shares during the period. JPMorgan Chase & Co. increased its holdings in Alphabet by 9.9% during the 1st quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider’s stock worth $15,971,861,000 after purchasing an additional 9,243,959 shares in the last quarter. Finally, Strs Ohio acquired a new stake in shares of Alphabet in the 1st quarter valued at about $369,713,000. 27.26% of the stock is currently owned by institutional investors.

Insider Transactions at Alphabet

In related news, Director John L. Hennessy sold 600 shares of the stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $249.44, for a total transaction of $149,664.00. Following the sale, the director owned 5,716 shares of the company’s stock, valued at $1,425,799.04. This represents a 9.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 transaction, the chief executive officer directly owned 2,402,119 shares of the company’s stock, valued at $584,699,785.79. This represents a 1.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 276,738 shares of company stock worth $59,135,475. Company insiders own 12.99% of the company’s stock.

Alphabet Price Performance

Alphabet stock opened at $246.45 on Monday. The company has a market capitalization of $2.98 trillion, a price-to-earnings ratio of 26.25, a PEG ratio of 1.66 and a beta of 1.00. 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 Inc. has a 12 month low of $142.66 and a 12 month high of $256.70. The stock’s 50 day moving average is $221.89 and its 200-day moving average is $187.31.

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. Equities research analysts expect that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders 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%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on GOOG shares. Robert W. Baird upped their price objective on Alphabet from $215.00 to $275.00 and gave the stock an “outperform” rating in a research report on Monday, September 22nd. Jefferies Financial Group upped their price target on Alphabet from $230.00 to $285.00 and gave the stock a “buy” rating in a research report on Thursday. Pivotal Research lifted their price objective on shares of Alphabet from $245.00 to $300.00 and gave the company a “buy” rating in a report on Wednesday, September 3rd. Lake Street Capital reissued a “buy” rating on shares of Alphabet in a research report on Wednesday, July 9th. Finally, KeyCorp set a $265.00 target price on shares of Alphabet in a research report on Wednesday, September 3rd. Five investment analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $235.33.

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.