Doheny Asset Management CA Sells 21,354 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Doheny Asset Management CA trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 92.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,754 shares of the information services provider’s stock after selling 21,354 shares during the period. Doheny Asset Management CA’s holdings in Alphabet were worth $319,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Christopher J. Hasenberg Inc raised its position in Alphabet by 75.0% during the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 60 shares in the last quarter. Kings Path Partners LLC bought a new position in shares of Alphabet during the second quarter valued at about $36,000. Tributary Capital Management LLC bought a new position in shares of Alphabet during the first quarter valued at about $30,000. Vermillion & White Wealth Management Group LLC bought a new stake in shares of Alphabet in the fourth quarter worth about $30,000. Finally, Denver PWM LLC bought a new stake in shares of Alphabet in the second quarter worth about $41,000. 40.03% of the stock is owned by institutional investors.

Alphabet Trading Down 1.1 %

NASDAQ:GOOGL opened at $161.85 on Tuesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. The firm has a market capitalization of $2.00 trillion, a price-to-earnings ratio of 24.82, a price-to-earnings-growth ratio of 1.13 and a beta of 1.04. Alphabet Inc. has a one year low of $120.21 and a one year high of $191.75. The business has a fifty day moving average price of $164.23 and a 200-day moving average price of $165.98.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The business had revenue of $84.74 billion during the quarter, compared to analyst estimates of $70.60 billion. During the same quarter in the prior year, the business posted $1.44 EPS. Sell-side analysts forecast that Alphabet Inc. will post 7.64 EPS for the current year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 9th were paid a $0.20 dividend. The ex-dividend date of this dividend was Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.49%. Alphabet’s payout ratio is presently 12.27%.

Insiders Place Their Bets

In other Alphabet 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 transaction of $125,126.54. Following the completion of the transaction, the chief accounting officer now owns 30,650 shares of the company’s stock, valued at approximately $5,623,355.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $160.63, for a total value of $3,614,175.00. Following the completion of the transaction, the chief executive officer now owns 2,114,885 shares of the company’s stock, valued at approximately $339,713,977.55. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, 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 transaction of $125,126.54. Following the completion of the transaction, the chief accounting officer now directly owns 30,650 shares of the company’s stock, valued at approximately $5,623,355.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 180,167 shares of company stock worth $29,762,606. Corporate insiders own 11.55% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on GOOGL shares. Wedbush reissued an “outperform” rating and issued a $205.00 target price on shares of Alphabet in a research note on Thursday, September 5th. Mizuho lifted their price objective on Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Bank of America lifted their price objective on Alphabet from $200.00 to $206.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Wolfe Research initiated coverage on Alphabet in a research report on Tuesday, July 16th. They set an “outperform” rating and a $240.00 price objective on the stock. Finally, Morgan Stanley cut their price objective on Alphabet from $205.00 to $190.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 3rd. Eight equities research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $201.08.

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.