Alphabet Inc. (NASDAQ:GOOG) Shares Sold by MBA Advisors LLC

MBA Advisors LLC decreased its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 5.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,880 shares of the information services provider’s stock after selling 100 shares during the quarter. MBA Advisors LLC’s holdings in Alphabet were worth $345,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of GOOG. Partnership Wealth Management LLC purchased a new stake in shares of Alphabet in the 4th quarter valued at approximately $26,000. Pacific Capital Wealth Advisors Inc. acquired a new stake in shares of Alphabet in the fourth quarter valued at $34,000. Richardson Financial Services Inc. purchased a new position in Alphabet in the fourth quarter worth approximately $34,000. 1620 Investment Advisors Inc. acquired a new position in shares of Alphabet during the second quarter worth $37,000. Finally, Hoese & Co LLP boosted its position in shares of Alphabet by 62.5% during the 2nd quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock worth $45,000 after acquiring an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Price Performance

Shares of GOOG opened at $165.11 on Friday. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a twelve month low of $121.46 and a twelve month high of $193.31. The firm has a market capitalization of $2.04 trillion, a PE ratio of 25.32, a P/E/G ratio of 1.28 and a beta of 1.05. The stock’s 50 day moving average is $175.10 and its two-hundred day moving average is $165.12.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. The business had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $84.22 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The business’s revenue for the quarter was up 13.6% on a year-over-year basis. During the same period in the prior year, the company posted $1.44 EPS. Research analysts anticipate that Alphabet Inc. will post 7.62 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently announced 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. The ex-dividend date of this dividend is Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.48%. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Wolfe Research raised shares of Alphabet to a “strong-buy” rating in a research report 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 research report on Friday, June 28th. Oppenheimer increased their price objective on Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Finally, TD Cowen boosted their target price on Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Alphabet has a consensus rating of “Buy” and a consensus target price of $182.86.

Insider Activity

In related news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $176.58, for a total value of $3,973,050.00. Following the completion of the transaction, the chief executive officer now directly owns 2,235,511 shares of the company’s stock, valued at approximately $394,746,532.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $176.58, for a total value of $3,973,050.00. Following the sale, the chief executive officer now directly owns 2,235,511 shares in the company, valued at approximately $394,746,532.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, 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 transaction, the senior vice president now owns 9 shares of the company’s stock, valued at $1,655.91. The disclosure for this sale can be found here. In the last three months, insiders sold 179,065 shares of company stock worth $31,025,543. Company insiders own 12.99% of the company’s stock.

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.