Corbyn Investment Management Inc. MD Sells 2,210 Shares of Alphabet Inc. (NASDAQ:GOOG)

Corbyn Investment Management Inc. MD lessened its holdings in Alphabet Inc. (NASDAQ:GOOG) by 4.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 53,220 shares of the information services provider’s stock after selling 2,210 shares during the quarter. Alphabet makes up about 4.0% of Corbyn Investment Management Inc. MD’s investment portfolio, making the stock its 5th largest holding. Corbyn Investment Management Inc. MD’s holdings in Alphabet were worth $9,762,000 as of its most recent SEC filing.

Several 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 during the 4th quarter valued at about $26,000. 1620 Investment Advisors Inc. bought a new position in shares of Alphabet during the second quarter valued at approximately $37,000. Richardson Financial Services Inc. acquired a new stake in shares of Alphabet during the 4th quarter worth approximately $34,000. Slocum Gordon & Co LLP bought a new stake in shares of Alphabet in the 2nd quarter worth approximately $44,000. Finally, Hoese & Co LLP lifted its holdings in shares of Alphabet by 62.5% in the 2nd quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock worth $45,000 after purchasing an additional 100 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Insider Activity

In related news, SVP Prabhakar Raghavan sold 3,262 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $183.99, for a total transaction 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 $1,655.91. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, SVP Prabhakar Raghavan sold 3,262 shares of Alphabet stock in a transaction 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 in the company, valued at approximately $1,655.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the business’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 sale, the chief accounting officer now directly owns 30,650 shares in the company, valued at $5,623,355.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 201,867 shares of company stock worth $34,218,581. Corporate insiders own 12.99% of the company’s stock.

Alphabet Trading Up 0.3 %

Shares of NASDAQ:GOOG opened at $150.01 on Wednesday. The company has a 50 day moving average of $171.07 and a 200-day moving average of $166.00. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. The firm has a market cap of $1.85 trillion, a P/E ratio of 23.01, a P/E/G ratio of 1.13 and a beta of 1.04. Alphabet Inc. has a twelve month low of $121.46 and a twelve month high of $193.31.

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

Alphabet Announces Dividend

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

Analyst Ratings Changes

Several brokerages have weighed in on GOOG. Cantor Fitzgerald raised Alphabet to a “hold” rating in a research report on Thursday, September 5th. Wolfe Research raised shares of Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. Rosenblatt Securities cut shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price for the company. in a research report on Friday, June 28th. TD Cowen lifted their price target on Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Finally, 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. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and an average price target 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.