Alphabet Inc. $GOOG Shares Sold by Montag A & Associates Inc.

Montag A & Associates Inc. trimmed its holdings in Alphabet Inc. (NASDAQ:GOOG) by 15.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 219,969 shares of the information services provider’s stock after selling 40,830 shares during the quarter. Alphabet accounts for approximately 1.9% of Montag A & Associates Inc.’s investment portfolio, making the stock its 7th biggest holding. Montag A & Associates Inc.’s holdings in Alphabet were worth $39,020,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GOOG. REDW Wealth LLC grew its holdings in Alphabet by 2.3% during the second quarter. REDW Wealth LLC now owns 2,410 shares of the information services provider’s stock worth $428,000 after acquiring an additional 54 shares during the period. ACT Advisors LLC. lifted its holdings in Alphabet by 3.5% in the second quarter. ACT Advisors LLC. now owns 1,625 shares of the information services provider’s stock valued at $288,000 after acquiring an additional 55 shares during the period. Moser Wealth Advisors LLC lifted its holdings in Alphabet by 2.2% in the second quarter. Moser Wealth Advisors LLC now owns 2,545 shares of the information services provider’s stock valued at $451,000 after acquiring an additional 55 shares during the period. LongView Wealth Management boosted its position in Alphabet by 1.1% in the 2nd quarter. LongView Wealth Management now owns 5,126 shares of the information services provider’s stock worth $909,000 after purchasing an additional 56 shares in the last quarter. Finally, Kooman & Associates grew its stake in shares of Alphabet by 1.4% during the 2nd quarter. Kooman & Associates now owns 4,127 shares of the information services provider’s stock worth $732,000 after purchasing an additional 56 shares during the period. 27.26% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $250.15, for a total transaction of $8,129,875.00. Following the transaction, the chief executive officer owned 2,369,619 shares of the company’s stock, valued at approximately $592,760,192.85. The trade was a 1.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider John Kent Walker sold 17,816 shares of the company’s stock in a transaction on Monday, September 29th. The shares were sold at an average price of $247.42, for a total value of $4,408,034.72. Following the completion of the sale, the insider owned 42,985 shares of the company’s stock, valued at approximately $10,635,348.70. The trade was a 29.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 221,796 shares of company stock worth $53,983,001. 12.99% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts recently issued reports on GOOG shares. Cowen reiterated a “buy” rating on shares of Alphabet in a research note on Thursday, October 30th. Cantor Fitzgerald set a $310.00 target price on shares of Alphabet and gave the company a “neutral” rating in a research report on Thursday, October 30th. Wolfe Research upped their price target on shares of Alphabet from $290.00 to $350.00 and gave the stock an “outperform” rating in a research report on Thursday, October 30th. Piper Sandler raised their price target on shares of Alphabet from $285.00 to $330.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. Finally, KeyCorp reiterated an “overweight” rating and issued a $330.00 price objective on shares of Alphabet in a report on Thursday, October 30th. Five investment 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 issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $324.81.

Alphabet Stock Performance

GOOG opened at $291.74 on Wednesday. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $292.34. The firm has a market capitalization of $3.53 trillion, a PE ratio of 28.77, a PEG ratio of 1.86 and a beta of 1.05. 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 firm’s 50-day moving average price is $254.94 and its 200 day moving average price is $207.64.

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

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Monday, December 8th. Alphabet’s dividend payout ratio (DPR) is currently 8.28%.

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.