Mirabella Financial Services LLP Lowers Stake in Alphabet Inc. $GOOG

Mirabella Financial Services LLP cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 89.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,800 shares of the information services provider’s stock after selling 98,200 shares during the quarter. Mirabella Financial Services LLP’s holdings in Alphabet were worth $2,093,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. RDA Financial Network boosted its stake in Alphabet by 5.3% in the second quarter. RDA Financial Network now owns 11,094 shares of the information services provider’s stock valued at $1,968,000 after buying an additional 554 shares in the last quarter. Bleakley Financial Group LLC lifted its stake in shares of Alphabet by 1.4% in the 2nd quarter. Bleakley Financial Group LLC now owns 170,020 shares of the information services provider’s stock valued at $30,160,000 after acquiring an additional 2,304 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Alphabet by 3.7% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,164,341 shares of the information services provider’s stock valued at $206,542,000 after acquiring an additional 42,028 shares in the last quarter. Oldfather Financial Services LLC bought a new stake in Alphabet during the 2nd quarter worth $213,000. Finally, Tower View Wealth Management LLC increased its holdings in Alphabet by 6.9% in the 2nd quarter. Tower View Wealth Management LLC now owns 27,644 shares of the information services provider’s stock worth $4,904,000 after purchasing an additional 1,776 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Stock Down 0.7%

Shares of NASDAQ:GOOG opened at $318.39 on Friday. The firm has a market cap of $3.84 trillion, a P/E ratio of 31.40, a PEG ratio of 1.86 and a beta of 1.07. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $328.67. The business’s 50 day simple moving average is $275.23 and its two-hundred day simple moving average is $223.79. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.75 and a current ratio of 1.75.

Alphabet (NASDAQ:GOOG) last issued 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 company had revenue of $102.35 billion for the quarter, compared to analysts’ expectations of $99.90 billion. Alphabet had a return on equity of 35.00% and a net margin of 32.23%.Alphabet’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same period last year, the business earned $2.12 EPS. As a group, research analysts forecast 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 given a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, December 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. Alphabet’s payout ratio is presently 8.28%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Robert W. Baird lifted their target price on shares of Alphabet from $215.00 to $275.00 and gave the stock an “outperform” rating in a research report on Monday, September 22nd. KeyCorp reaffirmed an “overweight” rating and set a $330.00 price target on shares of Alphabet in a research report on Thursday, October 30th. Jefferies Financial Group boosted their price objective on Alphabet from $285.00 to $320.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Citigroup reaffirmed a “market outperform” rating on shares of Alphabet in a research note on Monday, November 24th. Finally, Phillip Securities raised Alphabet from a “moderate buy” rating to a “strong-buy” rating in a research note on Friday, November 7th. Seven equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Alphabet currently has a consensus rating of “Buy” and an average target price of $307.22.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, November 19th. The stock was sold at an average price of $296.64, for a total value of $9,640,800.00. Following the completion of the sale, the chief executive officer directly owned 2,304,619 shares of the company’s stock, valued at approximately $683,642,180.16. This represents a 1.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 954 shares of the firm’s stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $317.00, for a total value of $302,418.00. Following the transaction, the chief accounting officer owned 11,740 shares in the company, valued at approximately $3,721,580. This trade represents a 7.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 196,406 shares of company stock worth $51,743,408. 12.99% of the stock is owned by corporate insiders.

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.