New World Advisors LLC Sells 1,326 Shares of Alphabet Inc. $GOOG

New World Advisors LLC decreased its holdings in Alphabet Inc. (NASDAQ:GOOG) by 19.0% in the second quarter, Holdings Channel reports. The firm owned 5,662 shares of the information services provider’s stock after selling 1,326 shares during the period. Alphabet comprises about 0.2% of New World Advisors LLC’s portfolio, making the stock its 19th largest position. New World Advisors LLC’s holdings in Alphabet were worth $1,004,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. REDW Wealth LLC raised its stake in Alphabet by 2.3% in the 2nd quarter. REDW Wealth LLC now owns 2,410 shares of the information services provider’s stock worth $428,000 after acquiring an additional 54 shares during the last quarter. GDS Wealth Management lifted its stake in Alphabet by 2.4% during the 2nd quarter. GDS Wealth Management now owns 2,325 shares of the information services provider’s stock valued at $412,000 after acquiring an additional 54 shares during the period. ACT Advisors LLC. boosted its holdings in shares of Alphabet by 3.5% in the 2nd quarter. ACT Advisors LLC. now owns 1,625 shares of the information services provider’s stock valued at $288,000 after acquiring an additional 55 shares during the last quarter. Moser Wealth Advisors LLC raised its stake in shares of Alphabet by 2.2% during the 2nd quarter. Moser Wealth Advisors LLC now owns 2,545 shares of the information services provider’s stock valued at $451,000 after buying an additional 55 shares during the last quarter. Finally, LongView Wealth Management boosted its position in Alphabet by 1.1% in the 2nd quarter. LongView Wealth Management now owns 5,126 shares of the information services provider’s stock worth $909,000 after purchasing an additional 56 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insider Activity at Alphabet

In other news, CAO Amie Thuener O’toole sold 2,778 shares of the firm’s stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $250.05, for a total value of $694,638.90. Following the transaction, the chief accounting officer owned 14,516 shares of the company’s stock, valued at approximately $3,629,725.80. This trade represents a 16.06% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $250.15, for a total transaction of $8,129,875.00. Following the transaction, the chief executive officer owned 2,369,619 shares in the company, valued at $592,760,192.85. The trade was a 1.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 227,952 shares of company stock worth $58,896,009. Company insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

NASDAQ:GOOG opened at $299.65 on Friday. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $306.89. The company has a market cap 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. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The firm’s 50 day moving average is $262.98 and its two-hundred day moving average is $213.90.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Thursday, October 30th. The information services provider reported $2.87 EPS for the quarter, topping the consensus estimate of $2.29 by $0.58. The company had revenue of $102.35 billion during the quarter, compared to analyst estimates of $99.90 billion. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The firm’s revenue was up 15.9% on a year-over-year basis. During the same period in the prior year, the firm posted $2.12 earnings per share. Analysts expect that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Morgan Stanley lifted their target price on shares of Alphabet from $210.00 to $270.00 and gave the company an “overweight” rating in a report on Thursday, October 2nd. UBS Group restated a “neutral” rating on shares of Alphabet in a research report on Thursday, October 30th. Sanford C. Bernstein upped their price objective on shares of Alphabet from $260.00 to $305.00 and gave the stock an “outperform” rating in a research report on Thursday, October 30th. Weiss Ratings reissued a “buy (b)” rating on shares of Alphabet in a research note on Wednesday, October 8th. Finally, DA Davidson set a $825.00 price target on Alphabet in a research note on Monday, October 27th. 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 assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $324.81.

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.