Sachetta LLC Sells 79 Shares of Alphabet Inc. $GOOG

Sachetta LLC cut its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,715 shares of the information services provider’s stock after selling 79 shares during the period. Sachetta LLC’s holdings in Alphabet were worth $1,014,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Alphabet by 2.4% during 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 buying an additional 9,687,855 shares during the period. Kingstone Capital Partners Texas LLC increased its position in shares of Alphabet by 580,897.4% during 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. JPMorgan Chase & Co. increased its position in shares of Alphabet by 9.9% during the first quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider’s stock valued at $15,971,861,000 after buying an additional 9,243,959 shares during the period. Deutsche Bank AG increased its position in shares of Alphabet by 5.4% during the first quarter. Deutsche Bank AG now owns 21,345,784 shares of the information services provider’s stock valued at $3,334,852,000 after buying an additional 1,098,996 shares during the period. Finally, Invesco Ltd. grew its holdings in shares of Alphabet by 2.2% during the first quarter. Invesco Ltd. now owns 20,380,073 shares of the information services provider’s stock worth $3,183,979,000 after purchasing an additional 440,526 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider John Kent Walker sold 17,816 shares of the firm’s stock in a transaction on 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 completion of the sale, the insider owned 42,985 shares of the company’s stock, valued at $10,635,348.70. This trade represents a 29.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John L. Hennessy sold 600 shares of the firm’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $249.44, for a total value of $149,664.00. Following the completion of the sale, the director directly owned 5,716 shares of the company’s stock, valued at $1,425,799.04. The trade was a 9.50% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 276,738 shares of company stock valued at $59,135,475. Corporate insiders own 12.99% of the company’s stock.

Analysts Set New Price Targets

GOOG has been the subject of several recent analyst reports. Robert W. Baird boosted their price objective on Alphabet from $215.00 to $275.00 and gave the stock an “outperform” rating in a report on Monday, September 22nd. Barclays reissued a “buy” rating on shares of Alphabet in a report on Wednesday, July 9th. Raymond James Financial reissued an “outperform” rating and set a $210.00 price objective (up previously from $185.00) on shares of Alphabet in a report on Thursday, July 24th. JPMorgan Chase & Co. boosted their price objective on Alphabet from $232.00 to $260.00 and gave the stock an “overweight” rating in a report on Wednesday, September 3rd. Finally, BNP Paribas lowered Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, June 26th. Six analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $241.00.

Alphabet Stock Down 1.3%

Shares of GOOG opened at $242.21 on Friday. The firm has a market cap of $2.93 trillion, a P/E ratio of 25.79, a P/E/G ratio of 1.66 and a beta of 1.00. The stock has a 50 day simple moving average of $226.01 and a two-hundred day simple moving average of $189.21. 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 Inc. has a 1 year low of $142.66 and a 1 year high of $256.70.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $2.12 by $0.19. The firm had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.67 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The business’s quarterly revenue was up 13.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.89 earnings per share. On average, analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were paid 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 of this dividend was Monday, September 8th. Alphabet’s dividend payout ratio is 8.95%.

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.