Alphabet Inc. $GOOG Shares Sold by Del Sette Capital Management LLC

Del Sette Capital Management LLC trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 70.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,645 shares of the information services provider’s stock after selling 8,783 shares during the quarter. Del Sette Capital Management LLC’s holdings in Alphabet were worth $647,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. RDA Financial Network raised its position in Alphabet by 5.3% in the 2nd quarter. RDA Financial Network now owns 11,094 shares of the information services provider’s stock valued at $1,968,000 after purchasing an additional 554 shares during the last quarter. Bleakley Financial Group LLC grew its position in Alphabet by 1.4% during the 2nd quarter. Bleakley Financial Group LLC now owns 170,020 shares of the information services provider’s stock worth $30,160,000 after purchasing an additional 2,304 shares during the last quarter. Oldfather Financial Services LLC acquired a new position in Alphabet in the second quarter valued at $213,000. Tower View Wealth Management LLC raised its holdings in shares of Alphabet by 6.9% in the second quarter. Tower View Wealth Management LLC now owns 27,644 shares of the information services provider’s stock valued at $4,904,000 after buying an additional 1,776 shares during the last quarter. Finally, Dock Street Asset Management Inc. boosted its stake in shares of Alphabet by 0.8% during the second quarter. Dock Street Asset Management Inc. now owns 234,306 shares of the information services provider’s stock worth $41,563,000 after buying an additional 1,970 shares during the period. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on GOOG shares. KeyCorp restated an “overweight” rating and issued a $330.00 price target on shares of Alphabet in a research report on Thursday, October 30th. BMO Capital Markets reiterated an “outperform” rating and issued a $340.00 target price on shares of Alphabet in a research note on Thursday, October 30th. Phillip Securities upgraded Alphabet from a “moderate buy” rating to a “strong-buy” rating in a research note on Friday, November 7th. UBS Group reaffirmed a “neutral” rating on shares of Alphabet in a report on Thursday, October 30th. Finally, TD Cowen boosted their price objective on shares of Alphabet from $270.00 to $280.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Seven equities research analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and an average target price of $324.81.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 2,778 shares of the business’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $288.26, for a total transaction of $800,786.28. Following the sale, the chief accounting officer owned 11,739 shares of the company’s stock, valued at approximately $3,383,884.14. The trade was a 19.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction dated Wednesday, November 19th. The shares were sold at an average price of $296.64, for a total transaction of $9,640,800.00. Following the completion of the transaction, the chief executive officer directly owned 2,304,619 shares of the company’s stock, valued at approximately $683,642,180.16. This trade represents a 1.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 227,952 shares of company stock worth $58,896,009 over the last three months. 12.99% of the stock is currently owned by company insiders.

Alphabet Stock Up 3.3%

GOOG opened at $299.65 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The business has a 50 day simple moving average of $262.98 and a 200-day simple moving average of $213.90. The stock has a market capitalization of $3.62 trillion, a P/E ratio of 29.55, a P/E/G ratio of 1.86 and a beta of 1.05. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $306.89.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Thursday, October 30th. The information services provider reported $2.87 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $99.90 billion. During the same quarter in the prior year, the company posted $2.12 earnings per share. Alphabet’s quarterly revenue was up 15.9% on a year-over-year basis. On average, equities analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders 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 dividend payout ratio (DPR) is currently 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.