Priebe Wealth Holdings LLC Decreases Position in Alphabet Inc. $GOOG

Priebe Wealth Holdings LLC trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 9.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,648 shares of the information services provider’s stock after selling 377 shares during the quarter. Priebe Wealth Holdings LLC’s holdings in Alphabet were worth $647,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of GOOG. MorganRosel Wealth Management LLC purchased a new stake in Alphabet during the first quarter worth $26,000. IFS Advisors LLC lifted its position in shares of Alphabet by 400.0% in the second quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock valued at $27,000 after acquiring an additional 120 shares in the last quarter. Robbins Farley lifted its position in shares of Alphabet by 60.0% in the second quarter. Robbins Farley now owns 160 shares of the information services provider’s stock valued at $28,000 after acquiring an additional 60 shares in the last quarter. WestEnd Advisors LLC lifted its position in shares of Alphabet by 58.7% in the second quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock valued at $29,000 after acquiring an additional 61 shares in the last quarter. Finally, Goodman Advisory Group LLC purchased a new stake in shares of Alphabet in the first quarter valued at $32,000. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Frances Arnold sold 103 shares of the company’s stock in a transaction dated Tuesday, September 30th. The stock was sold at an average price of $243.13, for a total value of $25,042.39. Following the completion of the sale, the director owned 17,284 shares of the company’s stock, valued at $4,202,258.92. This represents a 0.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John L. Hennessy sold 600 shares of the company’s stock in a transaction dated Monday, October 13th. The stock was sold at an average price of $242.92, for a total value of $145,752.00. Following the completion of the sale, the director directly owned 5,116 shares of the company’s stock, valued at $1,242,778.72. The trade was a 10.50% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 210,872 shares of company stock valued at $46,980,865. 12.99% of the stock is owned by insiders.

Alphabet Stock Performance

Shares of NASDAQ:GOOG opened at $251.88 on Friday. The firm 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 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 moving average of $231.15 and a two-hundred day moving average of $192.08. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $257.58.

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

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were given a $0.21 dividend. The ex-dividend date of this dividend was Monday, September 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. Alphabet’s dividend payout ratio is presently 8.95%.

Analyst Ratings Changes

Several analysts have recently issued reports on GOOG shares. Oppenheimer restated an “outperform” rating and issued a $270.00 price objective (up from $235.00) on shares of Alphabet in a research report on Wednesday, September 3rd. Phillip Securities downgraded Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research report on Monday, September 8th. Scotiabank restated an “outperform” rating and issued a $310.00 price objective on shares of Alphabet in a research report on Thursday. Citizens Jmp upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Thursday, June 26th. Finally, Cowen restated a “buy” rating on shares of Alphabet in a research report on Wednesday, October 8th. Six analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $244.68.

Alphabet 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.