Alphabet Inc. $GOOG Shares Sold by Litman Gregory Wealth Management LLC

Litman Gregory Wealth Management LLC decreased its position in Alphabet Inc. (NASDAQ:GOOG) by 2.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 69,371 shares of the information services provider’s stock after selling 1,475 shares during the period. Alphabet comprises approximately 1.0% of Litman Gregory Wealth Management LLC’s portfolio, making the stock its 27th biggest holding. Litman Gregory Wealth Management LLC’s holdings in Alphabet were worth $12,306,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of GOOG. ACT Advisors LLC. increased its stake in Alphabet by 3.5% during the second quarter. ACT Advisors LLC. now owns 1,625 shares of the information services provider’s stock worth $288,000 after acquiring an additional 55 shares during the last quarter. LongView Wealth Management increased its stake in Alphabet by 1.1% during the second quarter. LongView Wealth Management now owns 5,126 shares of the information services provider’s stock worth $909,000 after acquiring an additional 56 shares during the last quarter. Kooman & Associates increased its stake in Alphabet by 1.4% during the second quarter. Kooman & Associates now owns 4,127 shares of the information services provider’s stock worth $732,000 after acquiring an additional 56 shares during the last quarter. Colton Groome Financial Advisors LLC increased its stake in Alphabet by 3.4% during the second quarter. Colton Groome Financial Advisors LLC now owns 1,742 shares of the information services provider’s stock worth $309,000 after acquiring an additional 57 shares during the last quarter. Finally, Brueske Advisory Services LLC increased its stake in Alphabet by 2.7% during the second quarter. Brueske Advisory Services LLC now owns 2,194 shares of the information services provider’s stock worth $389,000 after acquiring an additional 58 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Trading Down 0.7%

Shares of GOOG opened at $245.46 on Thursday. The company has a market capitalization of $2.97 trillion, a P/E ratio of 26.14, a P/E/G ratio of 1.67 and a beta of 1.00. Alphabet Inc. has a one year low of $142.66 and a one year high of $256.70. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The stock has a 50-day moving average price of $225.03 and a 200 day moving average price of $188.71.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS 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 the consensus estimate of $93.67 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.Alphabet’s revenue for the quarter was up 13.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.89 earnings per share. Sell-side analysts forecast that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were issued a $0.21 dividend. 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%.

Insider Activity at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $184.38, for a total value of $5,992,350.00. Following the completion of the transaction, the chief executive officer owned 2,527,392 shares of the company’s stock, valued at approximately $466,000,536.96. This represents a 1.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider John Kent Walker sold 23,820 shares of the stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $194.70, for a total value of $4,637,754.00. Following the completion of the transaction, the insider directly owned 42,999 shares of the company’s stock, valued at $8,371,905.30. This represents a 35.65% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 276,738 shares of company stock valued at $59,135,475. Insiders own 12.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on GOOG. Roth Capital restated a “buy” rating on shares of Alphabet in a research note on Wednesday, July 9th. TD Cowen increased their target price on Alphabet from $270.00 to $280.00 and gave the company a “buy” rating in a research note on Wednesday. Morgan Stanley increased 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. Phillip Securities lowered Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research note on Monday, September 8th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $270.00 target price (up previously from $235.00) on shares of Alphabet in a research note on Wednesday, September 3rd. Six research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $237.68.

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.