KFA Private Wealth Group LLC Sells 5,426 Shares of Alphabet Inc. (NASDAQ:GOOG)

KFA Private Wealth Group LLC lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 77.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,570 shares of the information services provider’s stock after selling 5,426 shares during the period. KFA Private Wealth Group LLC’s holdings in Alphabet were worth $288,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of GOOG. Norges Bank purchased a new stake in shares of Alphabet during the 4th quarter worth approximately $4,101,040,000. JPMorgan Chase & Co. increased its position in Alphabet by 19.7% in the first quarter. JPMorgan Chase & Co. now owns 84,171,721 shares of the information services provider’s stock worth $12,815,986,000 after purchasing an additional 13,876,534 shares during the last quarter. Swedbank AB purchased a new stake in Alphabet during the first quarter valued at $1,378,708,000. Capital International Investors lifted its position in Alphabet by 9.3% during the first quarter. Capital International Investors now owns 87,716,562 shares of the information services provider’s stock valued at $13,355,724,000 after purchasing an additional 7,470,042 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Alphabet by 51.8% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 6,416,150 shares of the information services provider’s stock worth $976,923,000 after buying an additional 2,190,795 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on GOOG shares. TD Cowen increased their price target on shares of Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Cantor Fitzgerald raised Alphabet to a “hold” rating in a research note on Thursday, September 5th. Oppenheimer raised their price objective on Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Rosenblatt Securities lowered Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective for the company. in a research note on Friday, June 28th. Finally, DA Davidson raised Alphabet to a “hold” rating in a research note on Tuesday. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and an average target price of $182.86.

Insider Transactions at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $183.47, for a total transaction of $125,126.54. Following the transaction, the chief accounting officer now directly owns 30,650 shares in the company, valued at approximately $5,623,355.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Alphabet news, Director John L. Hennessy sold 700 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $165.00, for a total transaction of $115,500.00. Following the transaction, the director now directly owns 29,324 shares in the company, valued at approximately $4,838,460. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $183.47, for a total value of $125,126.54. Following the transaction, the chief accounting officer now owns 30,650 shares in the company, valued at $5,623,355.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 201,867 shares of company stock worth $34,218,581. 12.99% of the stock is currently owned by company insiders.

Alphabet Trading Up 2.2 %

Shares of NASDAQ GOOG opened at $155.54 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. The business’s 50 day moving average price is $169.73 and its 200-day moving average price is $165.83. Alphabet Inc. has a fifty-two week low of $121.46 and a fifty-two week high of $193.31. The company has a market cap of $1.92 trillion, a price-to-earnings ratio of 23.86, a PEG ratio of 1.13 and a beta of 1.04.

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

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 9th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Monday, September 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.51%. Alphabet’s payout ratio is 12.27%.

Alphabet Company 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.