Alphabet Inc. $GOOG Shares Sold by KPP Advisory Services LLC

KPP Advisory Services LLC lowered its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 6.4% during the 2nd quarter, Holdings Channel reports. The fund owned 8,350 shares of the information services provider’s stock after selling 568 shares during the period. KPP Advisory Services LLC’s holdings in Alphabet were worth $1,481,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently modified their holdings of GOOG. MorganRosel Wealth Management LLC acquired a new stake in Alphabet in the first quarter worth about $26,000. IFS Advisors LLC raised its position in shares of Alphabet by 400.0% during the 2nd quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock worth $27,000 after buying an additional 120 shares in the last quarter. Robbins Farley lifted its stake in shares of Alphabet by 60.0% in the 2nd quarter. Robbins Farley now owns 160 shares of the information services provider’s stock worth $28,000 after acquiring an additional 60 shares during the period. Goodman Advisory Group LLC acquired a new stake in shares of Alphabet in the 1st quarter worth approximately $32,000. Finally, Greykasell Wealth Strategies Inc. bought a new position in shares of Alphabet in the first quarter valued at approximately $32,000. Institutional investors own 27.26% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on GOOG shares. Scotiabank boosted their target price on Alphabet from $200.00 to $240.00 and gave the stock a “sector outperform” rating in a report on Tuesday, July 22nd. JPMorgan Chase & Co. lifted their price target on Alphabet from $232.00 to $260.00 and gave the company an “overweight” rating in a research report on Wednesday, September 3rd. TD Cowen upped their price objective on Alphabet from $270.00 to $280.00 and gave the company a “buy” rating in a report on Wednesday. Morgan Stanley raised their target price on Alphabet from $210.00 to $270.00 and gave the company an “overweight” rating in a research note on Thursday, October 2nd. Finally, Roth Capital reaffirmed a “buy” rating on shares of Alphabet in a report on Wednesday, July 9th. Six equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and a consensus price target of $237.68.

Alphabet Stock Performance

GOOG opened at $245.46 on Thursday. The firm has a market cap of $2.97 trillion, a PE ratio of 26.14, a P/E/G ratio of 1.67 and a beta of 1.00. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The business has a fifty day simple moving average of $225.03 and a 200-day simple moving average of $188.71. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $256.70.

Alphabet (NASDAQ:GOOG) last announced its earnings results 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. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The company had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.67 billion. During the same period in the previous year, the firm earned $1.89 earnings per share. Alphabet’s revenue for the quarter was up 13.8% compared to the same quarter last year. As a group, equities analysts predict that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Announces Dividend

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

Insiders Place Their Bets

In other news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $184.38, for a total value of $5,992,350.00. Following the transaction, the chief executive officer directly owned 2,527,392 shares of the company’s stock, valued at $466,000,536.96. This trade represents a 1.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Kavitark Ram Shriram sold 18,566 shares of the business’s stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the sale, the director owned 243,400 shares in the company, valued at $45,213,984. This represents a 7.09% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 276,738 shares of company stock worth $59,135,475 over the last ninety days. 12.99% of the stock is currently owned by company insiders.

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.