Goodman Advisory Group LLC Sells 185 Shares of Alphabet Inc. (NASDAQ:GOOG)

Goodman Advisory Group LLC lowered its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 6.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 2,613 shares of the information services provider’s stock after selling 185 shares during the period. Goodman Advisory Group LLC’s holdings in Alphabet were worth $479,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of GOOG. Ninepoint Partners LP increased its stake in shares of Alphabet by 7.4% in the second quarter. Ninepoint Partners LP now owns 7,423 shares of the information services provider’s stock valued at $1,362,000 after buying an additional 514 shares during the period. Scientech Research LLC increased its position in Alphabet by 826.2% during the 2nd quarter. Scientech Research LLC now owns 12,633 shares of the information services provider’s stock valued at $2,317,000 after purchasing an additional 11,269 shares during the period. Select Equity Group L.P. raised its holdings in Alphabet by 1.4% during the 2nd quarter. Select Equity Group L.P. now owns 624,862 shares of the information services provider’s stock worth $114,612,000 after purchasing an additional 8,807 shares during the last quarter. Lummis Asset Management LP lifted its position in shares of Alphabet by 0.4% in the 2nd quarter. Lummis Asset Management LP now owns 18,959 shares of the information services provider’s stock worth $3,477,000 after purchasing an additional 76 shares during the period. Finally, Marathon Capital Management boosted its stake in shares of Alphabet by 7.1% in the 2nd quarter. Marathon Capital Management now owns 11,320 shares of the information services provider’s stock valued at $2,076,000 after purchasing an additional 755 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insiders Place Their Bets

In related news, SVP Prabhakar Raghavan sold 3,262 shares of the firm’s stock in a transaction dated 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 owns 9 shares in the company, valued at $1,655.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Alphabet news, SVP Prabhakar Raghavan sold 3,262 shares of the firm’s 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 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 Securities & Exchange Commission, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction on 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 in the company, valued at approximately $5,623,355.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 203,367 shares of company stock valued at $34,079,756. Insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

Shares of Alphabet stock opened at $165.29 on Friday. Alphabet Inc. has a 52 week low of $121.46 and a 52 week high of $193.31. 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 business has a 50 day moving average price of $164.34 and a 200-day moving average price of $167.77. The company has a market cap of $2.04 trillion, a PE ratio of 25.35, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, beating 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 $84.22 billion. During the same period in the prior year, the firm posted $1.44 EPS. Alphabet’s quarterly revenue was up 13.6% compared to the same quarter last year. Equities analysts anticipate that Alphabet Inc. will post 7.63 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.48%. The ex-dividend date of this dividend was Monday, September 9th. Alphabet’s dividend payout ratio is presently 12.27%.

Analysts Set New Price Targets

Several research firms recently issued reports on GOOG. Cantor Fitzgerald upgraded shares of Alphabet to a “hold” rating in a report on Thursday, September 5th. DA Davidson raised Alphabet to a “hold” rating in a research note on Tuesday, September 10th. Wolfe Research raised Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. Rosenblatt Securities cut Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target on the stock. in a report on Friday, June 28th. Finally, TD Cowen lifted their price objective on shares of Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $179.29.

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.