Pekin Hardy Strauss Inc. Sells 440 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Pekin Hardy Strauss Inc. reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 52,790 shares of the information services provider’s stock after selling 440 shares during the quarter. Alphabet comprises 1.3% of Pekin Hardy Strauss Inc.’s portfolio, making the stock its 14th biggest position. Pekin Hardy Strauss Inc.’s holdings in Alphabet were worth $9,616,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the company. Christopher J. Hasenberg Inc grew its stake in Alphabet by 75.0% in the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after acquiring an additional 60 shares during the period. Vermillion & White Wealth Management Group LLC acquired a new position in shares of Alphabet in the 4th quarter valued at approximately $30,000. Tributary Capital Management LLC acquired a new position in shares of Alphabet in the 1st quarter valued at approximately $30,000. Kings Path Partners LLC acquired a new stake in Alphabet during the 2nd quarter worth approximately $36,000. Finally, Denver PWM LLC acquired a new stake in Alphabet during the 2nd quarter worth approximately $41,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Stock Performance

Shares of Alphabet stock opened at $165.85 on Tuesday. 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 company has a market cap of $2.05 trillion, a PE ratio of 25.44, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04. The company has a 50 day moving average of $162.52 and a 200-day moving average of $166.84. Alphabet Inc. has a 1-year low of $120.21 and a 1-year high of $191.75.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share 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 firm had revenue of $84.74 billion for the quarter, compared to the consensus estimate of $70.60 billion. During the same quarter last year, the business posted $1.44 EPS. As a group, equities research analysts forecast that Alphabet Inc. will post 7.63 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

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

Insider Transactions at Alphabet

In related news, Director John L. Hennessy sold 1,500 shares of Alphabet stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $185.85, for a total transaction of $278,775.00. Following the sale, the director now directly owns 30,824 shares of the company’s stock, valued at approximately $5,728,640.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director John L. Hennessy sold 1,500 shares of the firm’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $185.85, for a total transaction of $278,775.00. Following the sale, the director now owns 30,824 shares of the company’s stock, valued at approximately $5,728,640.40. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider John Kent Walker sold 16,802 shares of the business’s stock in a transaction on Friday, September 27th. The stock was sold at an average price of $165.47, for a total value of $2,780,226.94. Following the sale, the insider now owns 43,999 shares in the company, valued at approximately $7,280,514.53. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 193,725 shares of company stock valued at $31,933,031. 11.55% of the stock is currently owned by insiders.

Analyst Ratings Changes

GOOGL has been the subject of several research reports. Wedbush reissued an “outperform” rating and set a $205.00 price objective on shares of Alphabet in a research report on Thursday, September 5th. Wells Fargo & Company increased their target price on Alphabet from $187.00 to $190.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 24th. Citigroup boosted their price target on Alphabet from $190.00 to $212.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. BMO Capital Markets reissued an “outperform” rating and issued a $222.00 target price on shares of Alphabet in a research report on Monday, September 16th. Finally, Roth Mkm reaffirmed a “buy” rating and set a $206.00 price target on shares of Alphabet in a research report on Thursday, August 29th. Eight analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and an average price target of $201.35.

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.