Jaffetilchin Investment Partners LLC Sells 910 Shares of Alphabet Inc. $GOOG

Jaffetilchin Investment Partners LLC trimmed its position in Alphabet Inc. (NASDAQ:GOOG) by 1.9% during the 2nd quarter, HoldingsChannel reports. The firm owned 46,287 shares of the information services provider’s stock after selling 910 shares during the quarter. Jaffetilchin Investment Partners LLC’s holdings in Alphabet were worth $8,211,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Brighton Jones LLC lifted its position in Alphabet by 5.6% in the fourth quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider’s stock worth $22,901,000 after buying an additional 6,410 shares during the last quarter. Spectrum Wealth Counsel LLC increased its position in Alphabet by 4.2% during the first quarter. Spectrum Wealth Counsel LLC now owns 3,754 shares of the information services provider’s stock valued at $586,000 after acquiring an additional 150 shares during the last quarter. Providence Wealth Advisors LLC raised its stake in shares of Alphabet by 0.9% in the first quarter. Providence Wealth Advisors LLC now owns 10,197 shares of the information services provider’s stock valued at $1,613,000 after acquiring an additional 95 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Alphabet by 25.2% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,159,325 shares of the information services provider’s stock worth $493,581,000 after acquiring an additional 634,924 shares during the last quarter. Finally, one8zero8 LLC boosted its stake in shares of Alphabet by 1.6% during the 1st quarter. one8zero8 LLC now owns 30,659 shares of the information services provider’s stock worth $4,790,000 after purchasing an additional 496 shares during the period. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on GOOG. HSBC reiterated a “buy” rating and set a $335.00 price target on shares of Alphabet in a report on Thursday, October 30th. Loop Capital upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 18th. Hsbc Global Res upgraded Alphabet to a “strong-buy” rating in a report on Tuesday, October 7th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Alphabet in a research report on Wednesday, October 8th. Finally, TD Cowen increased their target price on Alphabet from $270.00 to $280.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Seven equities research analysts have rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $324.81.

Alphabet Stock Up 3.3%

Alphabet stock opened at $299.65 on Monday. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The firm has a market cap of $3.62 trillion, a P/E ratio of 29.55, a P/E/G ratio of 1.86 and a beta of 1.05. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $306.89. The business has a fifty day moving average of $262.98 and a two-hundred day moving average of $214.67.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Thursday, October 30th. 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 analyst estimates of $99.90 billion. During the same quarter in the previous year, the firm earned $2.12 earnings per share. The firm’s quarterly revenue was up 15.9% compared to the same quarter last year. On average, analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently disclosed 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. The ex-dividend date is Monday, December 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. Alphabet’s dividend payout ratio is 8.28%.

Insider Buying and Selling at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $250.15, for a total value of $8,129,875.00. Following the completion of the transaction, the chief executive officer directly owned 2,369,619 shares in the company, valued at $592,760,192.85. This trade represents a 1.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider John Kent Walker sold 17,816 shares of Alphabet stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the sale, the insider owned 42,985 shares of the company’s stock, valued at approximately $10,635,348.70. The trade was a 29.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 227,952 shares of company stock worth $58,896,009. 12.99% of the stock is owned by corporate insiders.

Alphabet 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.