Davies Financial Advisors Inc. Sells 470 Shares of Alphabet Inc. $GOOG

Davies Financial Advisors Inc. trimmed its stake in Alphabet Inc. (NASDAQ:GOOG) by 3.8% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 11,919 shares of the information services provider’s stock after selling 470 shares during the period. Alphabet accounts for about 1.6% of Davies Financial Advisors Inc.’s investment portfolio, making the stock its 10th largest position. Davies Financial Advisors Inc.’s holdings in Alphabet were worth $2,114,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GOOG. Brighton Jones LLC lifted its stake in shares of Alphabet by 5.6% in the fourth quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider’s stock worth $22,901,000 after buying an additional 6,410 shares during the last quarter. Legacy Capital Wealth Partners LLC raised its holdings in Alphabet by 11.4% in the 1st quarter. Legacy Capital Wealth Partners LLC now owns 4,030 shares of the information services provider’s stock worth $630,000 after acquiring an additional 411 shares during the period. Litman Gregory Wealth Management LLC lifted its position in Alphabet by 6.2% during the 1st quarter. Litman Gregory Wealth Management LLC now owns 70,846 shares of the information services provider’s stock worth $11,068,000 after acquiring an additional 4,111 shares during the last quarter. Dynasty Wealth Management LLC boosted its holdings in Alphabet by 1.2% during the first quarter. Dynasty Wealth Management LLC now owns 22,395 shares of the information services provider’s stock valued at $3,499,000 after acquiring an additional 261 shares during the period. Finally, Woodward Diversified Capital LLC grew its position in shares of Alphabet by 4.1% in the first quarter. Woodward Diversified Capital LLC now owns 8,341 shares of the information services provider’s stock valued at $1,303,000 after purchasing an additional 331 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director John L. Hennessy sold 600 shares of the company’s stock in a transaction that occurred on Monday, October 13th. The stock was sold at an average price of $242.92, for a total value of $145,752.00. Following the sale, the director directly owned 5,116 shares in the company, valued at approximately $1,242,778.72. This represents a 10.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider John Kent Walker sold 17,816 shares of the stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $247.42, for a total value of $4,408,034.72. Following the completion of the transaction, the insider directly 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 disclosure for this sale is available in the SEC filing. Insiders have sold a total of 221,796 shares of company stock valued at $53,983,001 over the last 90 days. Company insiders own 12.99% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Hsbc Global Res raised Alphabet to a “strong-buy” rating in a research report on Tuesday, October 7th. Robert W. Baird lifted their price target on Alphabet from $215.00 to $275.00 and gave the stock an “outperform” rating in a research report on Monday, September 22nd. Cowen reissued a “buy” rating on shares of Alphabet in a research report on Thursday, October 30th. Phillip Securities upgraded shares of Alphabet from a “moderate buy” rating to a “strong-buy” rating in a research note on Friday, November 7th. Finally, Scotiabank set a $336.00 target price on shares of Alphabet and gave the company a “sector outperform” rating in a research note on Thursday, October 30th. Six equities research analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, four have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $324.81.

Alphabet Stock Performance

GOOG opened at $279.12 on Friday. The stock has a market cap of $3.37 trillion, a PE ratio of 27.53, a P/E/G 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. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $292.36. The stock’s 50 day simple moving average is $257.00 and its 200-day simple moving average is $208.69.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Thursday, October 30th. The information services provider reported $2.87 EPS for the quarter, topping the consensus estimate of $2.29 by $0.58. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The firm had revenue of $102.35 billion during the quarter, compared to analysts’ expectations of $99.90 billion. During the same period last year, the business earned $2.12 earnings per share. Alphabet’s quarterly revenue was up 15.9% compared to the same quarter last year. Sell-side analysts forecast that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Dividend Announcement

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

About Alphabet

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.