Nadler Financial Group Inc. Has $5.18 Million Position in Alphabet Inc. $GOOG

Nadler Financial Group Inc. trimmed its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 3.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,197 shares of the information services provider’s stock after selling 1,150 shares during the quarter. Alphabet makes up about 0.5% of Nadler Financial Group Inc.’s portfolio, making the stock its 26th largest holding. Nadler Financial Group Inc.’s holdings in Alphabet were worth $5,179,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of the company. Cornerstone Wealth Group LLC grew its holdings in shares of Alphabet by 8.7% during the second quarter. Cornerstone Wealth Group LLC now owns 19,147 shares of the information services provider’s stock worth $3,396,000 after purchasing an additional 1,528 shares during the last quarter. Kellett Wealth Advisors LLC grew its holdings in Alphabet by 11.7% during the 2nd quarter. Kellett Wealth Advisors LLC now owns 2,928 shares of the information services provider’s stock worth $519,000 after acquiring an additional 307 shares during the last quarter. NorthRock Partners LLC grew its holdings in Alphabet by 4.1% during the 2nd quarter. NorthRock Partners LLC now owns 67,031 shares of the information services provider’s stock worth $11,891,000 after acquiring an additional 2,654 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its position in Alphabet by 12.6% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 236,111 shares of the information services provider’s stock valued at $41,884,000 after acquiring an additional 26,434 shares during the period. Finally, Concord Asset Management LLC VA raised its stake in shares of Alphabet by 35.7% during the second quarter. Concord Asset Management LLC VA now owns 10,631 shares of the information services provider’s stock valued at $1,886,000 after acquiring an additional 2,796 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on GOOG shares. Phillip Securities downgraded Alphabet from a “strong-buy” rating to a “moderate buy” rating in a report on Monday, September 8th. Oppenheimer reaffirmed an “outperform” rating and set a $270.00 target price (up from $235.00) on shares of Alphabet in a report on Wednesday, September 3rd. Jefferies Financial Group lifted their target price on Alphabet from $230.00 to $285.00 and gave the stock a “buy” rating in a report on Thursday, October 2nd. Barclays reaffirmed a “buy” rating on shares of Alphabet in a report on Wednesday, July 9th. Finally, Scotiabank reissued an “outperform” rating and set a $310.00 target price on shares of Alphabet in a research report on Thursday. Six investment analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $244.68.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O’toole sold 2,778 shares of the stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $245.00, for a total transaction of $680,610.00. Following the transaction, the chief accounting officer directly owned 17,293 shares in the company, valued at approximately $4,236,785. This represents a 13.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $249.50, for a total value of $8,108,750.00. Following the transaction, the chief executive officer owned 2,397,392 shares in the company, valued at $598,149,304. The trade was a 1.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 210,872 shares of company stock valued at $46,980,865 over the last 90 days. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Stock Performance

NASDAQ:GOOG opened at $251.88 on Friday. The company has a market capitalization of $3.05 trillion, a PE ratio of 26.82, a P/E/G ratio of 1.70 and a beta of 1.00. The company has a 50 day simple moving average of $231.15 and a two-hundred day simple moving average of $192.08. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $257.58.

Alphabet (NASDAQ:GOOG) last released its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $2.12 by $0.19. The business had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.67 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The company’s revenue for the quarter was up 13.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.89 EPS. Research analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Monday, September 8th. Alphabet’s dividend payout ratio is presently 8.95%.

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.