Farley Capital L.P. Sells 1,780 Shares of Alphabet Inc. (NASDAQ:GOOG)

Farley Capital L.P. trimmed its position in Alphabet Inc. (NASDAQ:GOOG) by 1.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 144,527 shares of the information services provider’s stock after selling 1,780 shares during the quarter. Alphabet makes up 23.7% of Farley Capital L.P.’s portfolio, making the stock its 2nd biggest position. Farley Capital L.P.’s holdings in Alphabet were worth $26,509,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Partnership Wealth Management LLC acquired a new stake in shares of Alphabet during the fourth quarter worth $26,000. 1620 Investment Advisors Inc. acquired a new position in shares of Alphabet during the 2nd quarter worth about $37,000. Richardson Financial Services Inc. bought a new stake in shares of Alphabet in the 4th quarter valued at about $34,000. Slocum Gordon & Co LLP acquired a new stake in shares of Alphabet in the 2nd quarter valued at approximately $44,000. Finally, Hoese & Co LLP boosted its stake in 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 during the last quarter. Institutional investors own 27.26% of the company’s stock.

Alphabet Trading Down 1.7 %

NASDAQ GOOG opened at $149.54 on Tuesday. Alphabet Inc. has a 52 week low of $121.46 and a 52 week high of $193.31. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. The stock’s 50 day moving average price is $171.80 and its two-hundred day moving average price is $165.96. The stock has a market capitalization of $1.84 trillion, a price-to-earnings ratio of 22.94, a PEG ratio of 1.13 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 EPS 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 analyst estimates of $84.22 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The firm’s revenue for the quarter was up 13.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.44 earnings per share. As a group, analysts anticipate that Alphabet Inc. will post 7.63 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 9th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.53%. Alphabet’s dividend payout ratio is 12.27%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on GOOG shares. TD Cowen increased their target price on shares of Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Oppenheimer lifted their target price on Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Cantor Fitzgerald upgraded Alphabet to a “hold” rating in a report on Thursday, September 5th. Wolfe Research upgraded Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. Finally, Rosenblatt Securities downgraded shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price on the stock. in a report on Friday, June 28th. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $182.86.

Insider Activity

In related news, CAO Amie Thuener O’toole sold 682 shares of the 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 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 accessible through the SEC website. In related news, Director John L. Hennessy sold 700 shares of the firm’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $165.00, for a total value of $115,500.00. Following the completion of the transaction, the director now directly owns 29,324 shares of the company’s stock, valued at $4,838,460. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 stock was sold at an average price of $183.47, for a total transaction of $125,126.54. Following the sale, the chief accounting officer now directly owns 30,650 shares in the company, valued at $5,623,355.50. The disclosure for this sale can be found here. Insiders sold 200,532 shares of company stock worth $34,055,874 in the last quarter. Corporate 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.