Alphabet Inc. $GOOG Stock Holdings Lessened by Somerville Kurt F

Somerville Kurt F reduced its holdings in Alphabet Inc. (NASDAQ:GOOG) by 3.4% during the second quarter, HoldingsChannel reports. The institutional investor owned 4,266 shares of the information services provider’s stock after selling 151 shares during the period. Somerville Kurt F’s holdings in Alphabet were worth $757,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. RDA Financial Network increased its holdings in shares of Alphabet by 5.3% in the 2nd quarter. RDA Financial Network now owns 11,094 shares of the information services provider’s stock worth $1,968,000 after acquiring an additional 554 shares during the period. Tower View Wealth Management LLC increased its holdings in shares of Alphabet by 6.9% in the 2nd quarter. Tower View Wealth Management LLC now owns 27,644 shares of the information services provider’s stock worth $4,904,000 after acquiring an additional 1,776 shares during the period. Oldfather Financial Services LLC acquired a new stake in shares of Alphabet in the 2nd quarter worth about $213,000. Truist Financial Corp increased its holdings in shares of Alphabet by 0.4% in the 2nd quarter. Truist Financial Corp now owns 3,626,927 shares of the information services provider’s stock worth $643,381,000 after acquiring an additional 15,065 shares during the period. Finally, GC Wealth Management RIA LLC increased its holdings in shares of Alphabet by 115.7% in the 2nd quarter. GC Wealth Management RIA LLC now owns 214,392 shares of the information services provider’s stock worth $38,031,000 after acquiring an additional 115,003 shares during the period. 27.26% of the stock is currently owned by institutional investors.

Insider Transactions at Alphabet

In other news, Director Kavitark Ram Shriram sold 18,566 shares of Alphabet stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $185.76, for a total value of $3,448,820.16. Following the transaction, the director owned 243,400 shares of the company’s stock, valued at $45,213,984. The trade was a 7.09% decrease in their position. 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 firm’s stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the completion of the transaction, the insider owned 42,999 shares of the company’s stock, valued at approximately $8,371,905.30. The trade was a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 276,738 shares of company stock valued at $59,135,475 in the last quarter. Insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

GOOG has been the topic of a number of analyst reports. Barclays reaffirmed a “buy” rating on shares of Alphabet in a report on Wednesday, July 9th. Lake Street Capital reissued a “buy” rating on shares of Alphabet in a research note on Wednesday, July 9th. Piper Sandler reissued a “neutral” rating on shares of Alphabet in a research note on Wednesday, July 9th. Raymond James Financial reissued an “outperform” rating and set a $210.00 target price (up previously from $185.00) on shares of Alphabet in a research note on Thursday, July 24th. Finally, Cowen reissued a “buy” rating on shares of Alphabet in a research note on Wednesday. Six research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $241.00.

Alphabet Stock Performance

Shares of GOOG opened at $237.49 on Friday. The firm’s 50 day moving average is $226.97 and its 200-day moving average is $189.66. The stock has a market capitalization of $2.87 trillion, a P/E ratio of 25.29, a P/E/G ratio of 1.63 and a beta of 1.00. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $256.70.

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

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were paid a $0.21 dividend. The ex-dividend date of this dividend was Monday, September 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.4%. Alphabet’s payout ratio is currently 8.95%.

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.