Titan Global Capital Management USA LLC Sells 55,246 Shares of Alphabet Inc. $GOOG

Titan Global Capital Management USA LLC lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 44.1% in the 2nd quarter, Holdings Channel reports. The firm owned 70,043 shares of the information services provider’s stock after selling 55,246 shares during the period. Alphabet makes up 2.0% of Titan Global Capital Management USA LLC’s investment portfolio, making the stock its 20th largest holding. Titan Global Capital Management USA LLC’s holdings in Alphabet were worth $12,425,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. IFS Advisors LLC grew its holdings in Alphabet by 400.0% during the 2nd quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock valued at $27,000 after buying an additional 120 shares in the last quarter. Robbins Farley boosted its position in shares of Alphabet by 60.0% during the 2nd quarter. Robbins Farley now owns 160 shares of the information services provider’s stock valued at $28,000 after acquiring an additional 60 shares during the last quarter. WestEnd Advisors LLC boosted its position in shares of Alphabet by 58.7% during the 2nd quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock valued at $29,000 after acquiring an additional 61 shares during the last quarter. Fairman Group LLC grew its holdings in shares of Alphabet by 121.3% in the second quarter. Fairman Group LLC now owns 177 shares of the information services provider’s stock valued at $31,000 after purchasing an additional 97 shares in the last quarter. Finally, Greykasell Wealth Strategies Inc. bought a new stake in Alphabet in the first quarter worth $32,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insider Activity at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 2,778 shares of the company’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $245.00, for a total value of $680,610.00. Following the transaction, the chief accounting officer owned 17,293 shares of the company’s stock, valued at $4,236,785. This represents a 13.84% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $229.73, for a total value of $7,466,225.00. Following the sale, the chief executive officer owned 2,429,892 shares of the company’s stock, valued at approximately $558,219,089.16. This trade represents a 1.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 222,396 shares of company stock worth $54,105,275 in the last quarter. 12.99% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts have commented on GOOG shares. Cantor Fitzgerald set a $310.00 price objective on shares of Alphabet and gave the company a “neutral” rating in a research report on Thursday, October 30th. Cowen restated a “buy” rating on shares of Alphabet in a research report on Thursday, October 30th. Oppenheimer increased their price target on shares of Alphabet from $300.00 to $345.00 and gave the company an “outperform” rating in a report on Thursday, October 30th. Phillip Securities cut Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research note on Monday, September 8th. Finally, Rosenblatt Securities set a $279.00 price objective on Alphabet in a research note on Thursday, October 30th. Five analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, four have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $324.81.

Alphabet Stock Performance

Shares of NASDAQ:GOOG opened at $279.70 on Monday. 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 $291.93. The company has a market capitalization of $3.38 trillion, a price-to-earnings ratio of 27.58, a PEG ratio of 1.86 and a beta of 1.05. The firm’s 50-day moving average is $251.81 and its 200 day moving average is $205.83.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The business had revenue of $102.35 billion during the quarter, compared to the consensus estimate of $99.90 billion. During the same quarter last 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. Research analysts predict that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be 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 is Monday, December 8th. Alphabet’s dividend payout ratio (DPR) is currently 8.28%.

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.