Alphabet Inc. $GOOG Shares Sold by Boston Standard Wealth Management LLC

Boston Standard Wealth Management LLC cut its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 9.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,330 shares of the information services provider’s stock after selling 136 shares during the quarter. Boston Standard Wealth Management LLC’s holdings in Alphabet were worth $236,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in GOOG. Nuveen LLC acquired a new position in shares of Alphabet during the first quarter worth about $2,622,943,000. GAMMA Investing LLC grew its position in shares of Alphabet by 18,562.3% during the first quarter. GAMMA Investing LLC now owns 14,323,323 shares of the information services provider’s stock worth $2,237,733,000 after buying an additional 14,246,573 shares in the last quarter. Vanguard Group Inc. grew 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 worth $64,299,725,000 after buying an additional 9,687,855 shares in the last quarter. JPMorgan Chase & Co. grew 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 worth $15,971,861,000 after buying an additional 9,243,959 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Alphabet during the fourth quarter worth about $786,942,000. 27.26% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GOOG has been the subject of a number of analyst reports. Phillip Securities downgraded Alphabet from a “strong-buy” rating to a “moderate buy” rating in a report on Monday, September 8th. Pivotal Research upped their price target on Alphabet from $245.00 to $300.00 and gave the company a “buy” rating in a report on Wednesday, September 3rd. Barclays reaffirmed a “buy” rating on shares of Alphabet in a report on Wednesday, July 9th. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Alphabet in a report on Wednesday, July 9th. Finally, Cowen reaffirmed a “buy” rating on shares of Alphabet in a report on Wednesday, July 9th. Four equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, five have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $227.56.

Alphabet Price Performance

Shares of NASDAQ GOOG opened at $241.38 on Friday. 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 twelve month low of $142.66 and a twelve month high of $242.57. The stock has a 50 day moving average of $202.67 and a two-hundred day moving average of $178.83. The stock has a market cap of $2.92 trillion, a P/E ratio of 25.71, a P/E/G ratio of 1.62 and a beta of 1.01.

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

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Monday, September 8th. Alphabet’s dividend payout ratio is 8.95%.

Insider Buying and Selling

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the 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 completion of the transaction, the chief executive officer owned 2,429,892 shares in the company, valued at approximately $558,219,089.16. This represents a 1.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John L. Hennessy sold 600 shares of the stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $203.79, for a total value of $122,274.00. Following the completion of the transaction, the director owned 6,316 shares of the company’s stock, valued at $1,287,137.64. The trade was a 8.68% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 254,710 shares of company stock worth $49,208,380 over the last three months. 12.99% of the stock is owned by company insiders.

About Alphabet

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.