Alphabet Inc. $GOOG Shares Sold by Copley Financial Group Inc.

Copley Financial Group Inc. lessened its stake in Alphabet Inc. (NASDAQ:GOOG) by 9.1% in the second quarter, HoldingsChannel.com reports. The firm owned 4,939 shares of the information services provider’s stock after selling 494 shares during the quarter. Alphabet accounts for 0.6% of Copley Financial Group Inc.’s portfolio, making the stock its 25th largest position. Copley Financial Group Inc.’s holdings in Alphabet were worth $876,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Kingstone Capital Partners Texas LLC lifted its position in shares of Alphabet by 580,897.4% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider’s stock valued at $23,963,208,000 after acquiring an additional 135,064,454 shares during the period. Nuveen LLC purchased a new position in Alphabet in the 1st quarter valued at approximately $2,622,943,000. Vanguard Group Inc. raised its holdings in Alphabet by 2.4% during the first quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider’s stock worth $64,299,725,000 after purchasing an additional 9,687,855 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Alphabet by 9.9% during the first quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider’s stock worth $15,971,861,000 after purchasing an additional 9,243,959 shares in the last quarter. Finally, Laurel Wealth Advisors LLC grew its holdings in Alphabet by 17,547.9% in the second quarter. Laurel Wealth Advisors LLC now owns 4,122,727 shares of the information services provider’s stock valued at $731,331,000 after purchasing an additional 4,099,366 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Sundar Pichai sold 32,500 shares of the company’s 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 owned 2,304,619 shares of the company’s stock, valued at $683,642,180.16. This represents a 1.39% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Amie Thuener O’toole sold 2,778 shares of the stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $288.26, for a total transaction of $800,786.28. Following the transaction, the chief accounting officer owned 11,739 shares in the company, valued at approximately $3,383,884.14. The trade was a 19.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 227,850 shares of company stock worth $58,874,814 in the last three months. Company insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

Shares of NASDAQ GOOG opened at $320.28 on Thursday. The company has a 50-day simple moving average of $267.17 and a 200-day simple moving average of $217.73. 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 company has a market cap of $3.86 trillion, a PE ratio of 31.59, a price-to-earnings-growth 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 $328.67.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Thursday, October 30th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 revenue was up 15.9% compared to the same quarter last year. During the same quarter last year, the business earned $2.12 earnings per share. On average, equities analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on GOOG shares. Canaccord Genuity Group reaffirmed a “buy” rating and set a $330.00 price target 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 report on Thursday, October 30th. Raymond James Financial set a $275.00 price target on shares of Alphabet and gave the company an “outperform” rating in a report on Friday, October 24th. BNP Paribas started coverage on shares of Alphabet in a research report on Monday. They issued an “outperform” rating on the stock. Finally, Wolfe Research lifted their price objective on Alphabet from $290.00 to $350.00 and gave the stock an “outperform” rating in a research report on Thursday, October 30th. Seven investment analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $304.62.

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.