Alphabet Inc. (NASDAQ:GOOG) Shares Sold by MRA Advisory Group

MRA Advisory Group cut its stake in Alphabet Inc. (NASDAQ:GOOG) by 19.9% in the second quarter, Holdings Channel reports. The fund owned 10,973 shares of the information services provider’s stock after selling 2,727 shares during the period. Alphabet accounts for about 1.2% of MRA Advisory Group’s portfolio, making the stock its 18th largest holding. MRA Advisory Group’s holdings in Alphabet were worth $2,013,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Partnership Wealth Management LLC purchased a new position in Alphabet during the 4th quarter valued at about $26,000. Richardson Financial Services Inc. purchased a new position in shares of Alphabet in the 4th quarter valued at about $34,000. 1620 Investment Advisors Inc. purchased a new position in shares of Alphabet in the 2nd quarter valued at about $37,000. Slocum Gordon & Co LLP purchased a new stake in Alphabet during the second quarter worth approximately $44,000. Finally, Hoese & Co LLP lifted its stake in Alphabet by 62.5% during the second quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock worth $45,000 after purchasing an additional 100 shares during the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GOOG has been the subject of several recent analyst reports. Oppenheimer boosted their target price on Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Rosenblatt Securities lowered 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. Cantor Fitzgerald upgraded Alphabet to a “hold” rating in a research note on Thursday, September 5th. Wolfe Research upgraded Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. Finally, TD Cowen boosted their target price on Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $182.86.

Insider Activity at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $186.74, for a total transaction of $4,201,650.00. Following the completion of the sale, the chief executive officer now directly owns 2,227,385 shares in the company, valued at $415,941,874.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $186.74, for a total transaction of $4,201,650.00. Following the completion of the sale, the chief executive officer now directly owns 2,227,385 shares in the company, valued at $415,941,874.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,835 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total value of $429,587.55. Following the completion of the sale, the chief accounting officer now owns 29,182 shares of the company’s stock, valued at approximately $4,421,948.46. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 201,867 shares of company stock worth $34,218,581. 12.99% of the stock is currently owned by insiders.

Alphabet Stock Up 0.3 %

Shares of NASDAQ:GOOG opened at $150.01 on Wednesday. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 52-week low of $121.46 and a 52-week high of $193.31. The stock’s fifty day simple moving average is $171.07 and its 200-day simple moving average is $166.00. The company has a market capitalization of $1.85 trillion, a P/E ratio of 23.01, a P/E/G ratio of 1.13 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last released its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.85 by $0.04. The firm had revenue of $84.74 billion during the quarter, compared to analyst estimates of $84.22 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The business’s quarterly revenue was up 13.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.44 earnings per share. As a group, equities research analysts forecast 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 will be paid on Monday, September 16th. Investors of record on Monday, September 9th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Monday, September 9th. This represents a $0.80 annualized dividend and a yield of 0.53%. Alphabet’s payout ratio is currently 12.27%.

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.