Oliver Luxxe Assets LLC Sells 83 Shares of Alphabet Inc. $GOOG

Oliver Luxxe Assets LLC trimmed its holdings in Alphabet Inc. (NASDAQ:GOOG) by 3.7% in the 2nd quarter, Holdings Channel reports. The fund owned 2,184 shares of the information services provider’s stock after selling 83 shares during the quarter. Oliver Luxxe Assets LLC’s holdings in Alphabet were worth $387,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. KFG Wealth Management LLC increased its stake in shares of Alphabet by 33.9% in the 2nd quarter. KFG Wealth Management LLC now owns 4,236 shares of the information services provider’s stock worth $751,000 after acquiring an additional 1,072 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Alphabet by 8.3% in the 2nd quarter. GAMMA Investing LLC now owns 99,260 shares of the information services provider’s stock worth $17,608,000 after acquiring an additional 7,579 shares in the last quarter. Wooster Corthell Wealth Management Inc. increased its stake in shares of Alphabet by 28.9% in the 2nd quarter. Wooster Corthell Wealth Management Inc. now owns 2,570 shares of the information services provider’s stock worth $456,000 after acquiring an additional 576 shares in the last quarter. Scharf Investments LLC increased its stake in shares of Alphabet by 7.4% in the 2nd quarter. Scharf Investments LLC now owns 21,803 shares of the information services provider’s stock worth $3,868,000 after acquiring an additional 1,507 shares in the last quarter. Finally, Maryland Capital Advisors Inc. increased its stake in shares of Alphabet by 59.8% in the 2nd quarter. Maryland Capital Advisors Inc. now owns 425 shares of the information services provider’s stock worth $75,000 after acquiring an additional 159 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors.

Alphabet Stock Performance

GOOG opened at $252.34 on Wednesday. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The company has a market cap of $3.05 trillion, a price-to-earnings ratio of 26.87, a PEG ratio of 1.71 and a beta of 1.01. The company’s 50 day moving average is $212.86 and its 200 day moving average is $182.73. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $256.70.

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

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.3%. Alphabet’s payout ratio is currently 8.95%.

Insider Activity

In other Alphabet news, insider John Kent Walker sold 23,820 shares of Alphabet stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the transaction, the insider owned 42,999 shares of the company’s stock, valued at $8,371,905.30. The trade was a 35.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $229.73, for a total transaction of $7,466,225.00. Following the transaction, the chief executive officer directly owned 2,429,892 shares in the company, valued at $558,219,089.16. This represents a 1.32% decrease in their position. The disclosure for this sale can be found here. Insiders sold 258,088 shares of company stock worth $52,405,304 over the last ninety days. Company insiders own 12.99% of the company’s stock.

Analysts Set New Price Targets

GOOG has been the subject of several research reports. The Goldman Sachs Group reiterated a “buy” rating and issued a $220.00 price target on shares of Alphabet in a research note on Monday, June 2nd. Barclays restated a “buy” rating on shares of Alphabet in a research note on Wednesday, July 9th. Citizens Jmp upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Thursday, June 26th. Piper Sandler restated a “neutral” rating on shares of Alphabet in a research note on Wednesday, July 9th. Finally, Raymond James Financial restated an “outperform” rating and set a $210.00 price objective (up from $185.00) on shares of Alphabet in a research note on Thursday, July 24th. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $230.35.

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.