Delta Financial Advisors LLC Sells 199 Shares of Alphabet Inc. (NASDAQ:GOOG)

Delta Financial Advisors LLC lessened its holdings in Alphabet Inc. (NASDAQ:GOOG) by 0.4% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 47,189 shares of the information services provider’s stock after selling 199 shares during the period. Alphabet makes up 3.4% of Delta Financial Advisors LLC’s portfolio, making the stock its 5th biggest position. Delta Financial Advisors LLC’s holdings in Alphabet were worth $8,655,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GOOG. Partnership Wealth Management LLC bought a new stake in shares of Alphabet in the 4th quarter worth about $26,000. Richardson Financial Services Inc. bought a new stake in Alphabet during the fourth quarter worth about $34,000. 1620 Investment Advisors Inc. bought a new stake in Alphabet during the second quarter worth about $37,000. Slocum Gordon & Co LLP acquired a new stake in shares of Alphabet during the second quarter worth approximately $44,000. Finally, Hoese & Co LLP raised its stake in shares of Alphabet by 62.5% in the second quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock valued at $45,000 after acquiring an additional 100 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $158.68, for a total value of $3,570,300.00. Following the sale, the chief executive officer now directly owns 2,137,385 shares in the company, valued at approximately $339,160,251.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total value of $109,420.08. Following the completion of the sale, the chief accounting officer now owns 32,017 shares in the company, valued at approximately $5,136,807.48. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $158.68, for a total value of $3,570,300.00. Following the transaction, the chief executive officer now owns 2,137,385 shares in the company, valued at $339,160,251.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 200,532 shares of company stock worth $34,055,874. Insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

Shares of NASDAQ:GOOG opened at $149.54 on Tuesday. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 1-year low of $121.46 and a 1-year high of $193.31. The stock has a market capitalization of $1.84 trillion, a P/E ratio of 22.94, a P/E/G ratio of 1.13 and a beta of 1.04. The business has a 50-day moving average price of $171.80 and a two-hundred day moving average price of $165.96.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The business had revenue of $84.74 billion during the quarter, compared to the consensus estimate of $84.22 billion. During the same period in the previous year, the firm posted $1.44 earnings per share. Alphabet’s revenue for the quarter was up 13.6% compared to the same quarter last year. Equities analysts predict that Alphabet Inc. will post 7.63 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, September 9th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.53%. The ex-dividend date of this dividend is Monday, September 9th. Alphabet’s payout ratio is 12.27%.

Analyst Upgrades and Downgrades

GOOG has been the subject of a number of recent analyst reports. Cantor Fitzgerald raised Alphabet to a “hold” rating in a report on Thursday, September 5th. Oppenheimer lifted their price target on Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Wolfe Research raised shares of Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. TD Cowen boosted their target price on shares of Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Finally, Rosenblatt Securities cut shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target on the stock. in a research note on Friday, June 28th. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus target price of $182.86.

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.