Alphabet Inc. $GOOG Shares Sold by Princeton Capital Management LLC

Princeton Capital Management LLC lowered its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 17.7% during the second quarter, Holdings Channel reports. The firm owned 13,576 shares of the information services provider’s stock after selling 2,925 shares during the quarter. Alphabet makes up about 0.7% of Princeton Capital Management LLC’s portfolio, making the stock its 24th largest holding. Princeton Capital Management LLC’s holdings in Alphabet were worth $2,408,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. IFS Advisors LLC grew its position in shares of Alphabet by 400.0% during the second quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock worth $27,000 after acquiring an additional 120 shares during the last quarter. Robbins Farley boosted its stake in shares of Alphabet by 60.0% during the second quarter. Robbins Farley now owns 160 shares of the information services provider’s stock worth $28,000 after buying an additional 60 shares during the period. WestEnd Advisors LLC lifted its position in Alphabet by 58.7% during the 2nd quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock worth $29,000 after acquiring an additional 61 shares during the period. Fairman Group LLC lifted its holdings in shares of Alphabet by 121.3% during the second quarter. Fairman Group LLC now owns 177 shares of the information services provider’s stock worth $31,000 after purchasing an additional 97 shares during the period. Finally, Greykasell Wealth Strategies Inc. purchased a new position in Alphabet in the 1st quarter valued at $32,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 954 shares of the business’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $282.33, for a total value of $269,342.82. Following the sale, the chief accounting officer directly owned 14,517 shares in the company, valued at $4,098,584.61. The trade was a 6.17% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Frances Arnold sold 112 shares of the stock in a transaction dated Thursday, October 30th. The shares were sold at an average price of $291.80, for a total transaction of $32,681.60. Following the completion of the sale, the director directly owned 18,004 shares in the company, valued at approximately $5,253,567.20. The trade was a 0.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 222,396 shares of company stock valued at $54,105,275 in the last 90 days. 12.99% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Pivotal Research upped their price objective on shares of Alphabet from $300.00 to $350.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. KeyCorp reissued an “overweight” rating and set a $330.00 price target on shares of Alphabet in a report on Thursday, October 30th. Raymond James Financial set a $275.00 price objective on shares of Alphabet and gave the company an “outperform” rating in a research report on Friday, October 24th. Sanford C. Bernstein boosted their target price on Alphabet from $260.00 to $305.00 and gave the stock an “outperform” rating in a research report on Thursday, October 30th. Finally, Cowen reissued a “buy” rating on shares of Alphabet in a report on Thursday, October 30th. Five research analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and an average price target of $324.81.

Alphabet Stock Down 2.0%

GOOG stock opened at $279.70 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. The company’s 50-day moving average price is $251.81 and its 200 day moving average price is $205.14. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $291.93. The company has a market cap of $3.38 trillion, a P/E ratio of 27.58, a P/E/G ratio of 1.86 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. The company had revenue of $102.35 billion during the quarter, compared to the consensus estimate of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The company’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same period last year, the firm earned $2.12 EPS. On average, research analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 8th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Monday, December 8th. Alphabet’s payout ratio is presently 8.28%.

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.