Fortune Financial Advisors LLC Has $655,000 Position in Alphabet Inc. (NASDAQ:GOOG)

Fortune Financial Advisors LLC cut its holdings in Alphabet Inc. (NASDAQ:GOOG) by 10.1% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 3,569 shares of the information services provider’s stock after selling 400 shares during the quarter. Fortune Financial Advisors LLC’s holdings in Alphabet were worth $655,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. Richardson Financial Services Inc. acquired a new stake in shares of Alphabet in the 4th quarter valued at about $34,000. 1620 Investment Advisors Inc. bought a new position in shares of Alphabet during the second quarter worth about $37,000. Slocum Gordon & Co LLP acquired a new stake in Alphabet in the 2nd quarter valued at approximately $44,000. Hoese & Co LLP lifted its stake in Alphabet by 62.5% in the 2nd 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 in the last quarter. Finally, Iron Horse Wealth Management LLC acquired a new position in Alphabet during the 2nd quarter worth approximately $48,000. 27.26% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Oppenheimer lifted their price objective on shares of Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. DA Davidson upgraded shares of Alphabet to a “hold” rating in a research note on Tuesday. TD Cowen increased their price objective 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. Rosenblatt Securities downgraded Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price on the stock. in a research report on Friday, June 28th. Finally, Wolfe Research upgraded Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. Three 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 data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $182.86.

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total value of $125,126.54. Following the transaction, the chief accounting officer now directly owns 30,650 shares of the company’s stock, valued at $5,623,355.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief accounting officer now owns 30,650 shares in the company, valued at $5,623,355.50. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $177.40, for a total value of $3,991,500.00. Following the transaction, the chief executive officer now owns 2,213,011 shares in the company, valued at approximately $392,588,151.40. The disclosure for this sale can be found here. Insiders sold 201,867 shares of company stock valued at $34,218,581 in the last quarter. 12.99% of the stock is currently owned by insiders.

Alphabet Stock Up 1.8 %

Shares of GOOG stock opened at $158.37 on Friday. Alphabet Inc. has a 52-week low of $121.46 and a 52-week high of $193.31. The stock has a market cap of $1.95 trillion, a price-to-earnings ratio of 24.29, a PEG ratio of 1.13 and a beta of 1.04. The firm’s 50-day moving average is $169.06 and its 200-day moving average is $165.96. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $84.22 billion. During the same quarter in the prior year, the company earned $1.44 earnings per share. The business’s revenue for the quarter was up 13.6% compared to the same quarter last year. Sell-side analysts predict that Alphabet Inc. will post 7.63 EPS for the current 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 dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.51%. The ex-dividend date of this dividend is Monday, September 9th. Alphabet’s dividend 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.