Keyvantage Wealth LLC Sells 860 Shares of Alphabet Inc. $GOOG

Keyvantage Wealth LLC decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 28.0% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 2,209 shares of the information services provider’s stock after selling 860 shares during the period. Keyvantage Wealth LLC’s holdings in Alphabet were worth $392,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in GOOG. Kingstone Capital Partners Texas LLC lifted its position in Alphabet by 580,897.4% in the 2nd 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 acquiring an additional 135,064,454 shares in the last quarter. Nuveen LLC bought a new position in shares of Alphabet during the 1st quarter worth approximately $2,622,943,000. Vanguard Group Inc. raised its holdings in shares of Alphabet by 2.4% in the first quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider’s stock valued at $64,299,725,000 after purchasing an additional 9,687,855 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Alphabet by 9.9% in the first 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 position in Alphabet during the first quarter worth $369,713,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insider Buying and Selling

In other news, CAO Amie Thuener O’toole sold 2,778 shares of the company’s stock in a transaction on Monday, September 15th. The shares were sold at an average price of $245.00, for a total value of $680,610.00. Following the sale, the chief accounting officer directly owned 17,293 shares of the company’s stock, valued at approximately $4,236,785. This represents a 13.84% decrease in their position. The transaction 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 on Monday, September 29th. The stock was sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the transaction, the insider directly owned 42,985 shares of the company’s stock, valued at $10,635,348.70. This represents a 29.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 221,796 shares of company stock valued at $53,983,001 over the last ninety days. 12.99% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on GOOG shares. Barclays upped their target price on shares of Alphabet from $250.00 to $315.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. Sanford C. Bernstein upped their price objective on Alphabet from $260.00 to $305.00 and gave the company an “outperform” rating in a research note on Thursday, October 30th. Piper Sandler lifted their target price on Alphabet from $285.00 to $330.00 and gave the stock an “overweight” rating in a research note on Thursday, October 30th. UBS Group reissued a “neutral” rating on shares of Alphabet in a report on Thursday, October 30th. Finally, DA Davidson set a $825.00 price target on Alphabet in a report on Monday, October 27th. Six analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $324.81.

Alphabet Stock Down 0.8%

GOOG opened at $276.98 on Friday. The stock has a fifty day moving average of $257.84 and a 200-day moving average of $209.82. The company has a market capitalization of $3.34 trillion, a P/E ratio of 27.32, a P/E/G ratio of 1.86 and a beta of 1.05. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $292.36. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $99.90 billion. During the same quarter in the prior year, the firm posted $2.12 earnings per share. The firm’s revenue was up 15.9% compared to the same quarter last year. On average, equities analysts expect that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Announces Dividend

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 given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Monday, December 8th. Alphabet’s dividend payout ratio (DPR) is 8.28%.

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.