Alphabet Inc. (NASDAQ:GOOG) Holdings Trimmed by LWM Advisory Services LLC

LWM Advisory Services LLC lowered its holdings in Alphabet Inc. (NASDAQ:GOOG) by 10.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,308 shares of the information services provider’s stock after selling 987 shares during the period. Alphabet makes up 1.3% of LWM Advisory Services LLC’s portfolio, making the stock its 21st biggest position. LWM Advisory Services LLC’s holdings in Alphabet were worth $1,524,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Twelve Points Wealth Management LLC boosted its position in Alphabet by 0.7% during the 2nd quarter. Twelve Points Wealth Management LLC now owns 7,985 shares of the information services provider’s stock worth $1,465,000 after acquiring an additional 55 shares during the period. PCG Wealth Advisors LLC boosted its holdings in shares of Alphabet by 3.1% during the second quarter. PCG Wealth Advisors LLC now owns 1,880 shares of the information services provider’s stock worth $345,000 after purchasing an additional 57 shares during the period. Investment Advisory Services Inc. TX ADV grew its position in Alphabet by 1.6% during the second quarter. Investment Advisory Services Inc. TX ADV now owns 3,636 shares of the information services provider’s stock valued at $667,000 after purchasing an additional 57 shares in the last quarter. Advisors Management Group Inc. ADV increased its stake in Alphabet by 2.0% in the 2nd quarter. Advisors Management Group Inc. ADV now owns 2,944 shares of the information services provider’s stock valued at $540,000 after buying an additional 58 shares during the period. Finally, Mark Sheptoff Financial Planning LLC lifted its position in Alphabet by 11.1% in the 1st quarter. Mark Sheptoff Financial Planning LLC now owns 600 shares of the information services provider’s stock worth $91,000 after buying an additional 60 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insider Buying and Selling

In other Alphabet news, SVP Prabhakar Raghavan sold 3,262 shares of Alphabet stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $183.99, for a total value of $600,175.38. Following the transaction, the senior vice president now directly owns 9 shares of the company’s stock, valued at approximately $1,655.91. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Alphabet news, SVP Prabhakar Raghavan sold 3,262 shares of the stock in a transaction on Monday, July 1st. The shares were sold at an average price of $183.99, for a total value of $600,175.38. Following the completion of the sale, the senior vice president now directly owns 9 shares of the company’s stock, valued at approximately $1,655.91. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction dated 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 owns 30,650 shares in the company, valued at approximately $5,623,355.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 201,867 shares of company stock valued at $34,218,581. Insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. TD Cowen upped their price target 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. Cantor Fitzgerald raised Alphabet to a “hold” rating in a research report on Thursday, September 5th. Wolfe Research upgraded Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. Oppenheimer increased their price objective on Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Finally, DA Davidson upgraded shares of Alphabet to a “hold” rating in a research note on Tuesday, September 10th. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $182.86.

Alphabet Stock Up 1.8 %

Shares of Alphabet stock opened at $158.37 on Friday. Alphabet Inc. has a 12-month low of $121.46 and a 12-month high of $193.31. The stock has a market capitalization of $1.95 trillion, a P/E ratio of 24.29, a PEG ratio of 1.13 and a beta of 1.04. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. The stock has a 50 day moving average price of $169.06 and a two-hundred day moving average price of $166.15.

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

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 9th will be given a dividend of $0.20 per share. 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 dividend payout ratio is presently 12.27%.

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.