Alphabet Inc. $GOOG Shares Sold by Tiemann Investment Advisors LLC

Tiemann Investment Advisors LLC cut its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 8.5% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 11,609 shares of the information services provider’s stock after selling 1,085 shares during the period. Alphabet comprises about 0.8% of Tiemann Investment Advisors LLC’s holdings, making the stock its 21st biggest holding. Tiemann Investment Advisors LLC’s holdings in Alphabet were worth $2,059,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in GOOG. Brighton Jones LLC increased its stake in shares of Alphabet by 5.6% in the 4th quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider’s stock worth $22,901,000 after acquiring an additional 6,410 shares during the last quarter. Bogart Wealth LLC increased its holdings in Alphabet by 113.2% in the 1st quarter. Bogart Wealth LLC now owns 5,069 shares of the information services provider’s stock valued at $792,000 after purchasing an additional 2,691 shares during the last quarter. Poehling Capital Management INC. raised its holdings in shares of Alphabet by 0.4% in the 1st quarter. Poehling Capital Management INC. now owns 64,816 shares of the information services provider’s stock valued at $10,126,000 after buying an additional 228 shares during the period. BluePointe Capital Management LLC increased its stake in Alphabet by 118.2% during the first quarter. BluePointe Capital Management LLC now owns 11,592 shares of the information services provider’s stock worth $1,811,000 after purchasing an additional 6,280 shares during the period. Finally, Future You Wealth LLC lifted its holdings in Alphabet by 38.3% during the 1st quarter. Future You Wealth LLC now owns 5,022 shares of the information services provider’s stock worth $785,000 after buying an additional 1,392 shares in the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have commented on GOOG shares. Raymond James Financial set a $275.00 price target on shares of Alphabet and gave the stock an “outperform” rating in a report on Friday, October 24th. Sanford C. Bernstein raised their price objective on shares of Alphabet from $260.00 to $305.00 and gave the stock an “outperform” rating in a research report on Thursday, October 30th. Pivotal Research upped their price target on Alphabet from $300.00 to $350.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Bank of America increased their price target on shares of Alphabet from $280.00 to $335.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Finally, DA Davidson set a $825.00 target price on Alphabet in a report on Monday, October 27th. Six investment analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $324.81.

Insider Activity

In related news, Director John L. Hennessy sold 600 shares of the company’s stock in a transaction that occurred on Monday, October 13th. The shares were sold at an average price of $242.92, for a total value of $145,752.00. Following the completion of the sale, the director owned 5,116 shares in the company, valued at approximately $1,242,778.72. This represents a 10.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John Kent Walker sold 17,816 shares of the business’s stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the transaction, the insider directly owned 42,985 shares in the company, valued at $10,635,348.70. The trade was a 29.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 221,796 shares of company stock worth $53,983,001. 12.99% of the stock is owned by company insiders.

Alphabet Trading Up 0.4%

GOOG opened at $291.74 on Wednesday. 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 $292.34. The firm’s fifty day moving average price is $254.94 and its 200 day moving average price is $207.64. The stock has a market capitalization of $3.53 trillion, a PE ratio of 28.77, a P/E/G ratio of 1.86 and a beta of 1.05.

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

Alphabet Announces Dividend

The business also recently announced 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 dividend on an annualized basis and a dividend 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.