Nicollet Investment Management Inc. Sells 2,314 Shares of Alphabet Inc. (NASDAQ:GOOG)

Nicollet Investment Management Inc. cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.6% during the second quarter, HoldingsChannel.com reports. The firm owned 86,646 shares of the information services provider’s stock after selling 2,314 shares during the period. Alphabet accounts for 5.9% of Nicollet Investment Management Inc.’s portfolio, making the stock its 4th biggest position. Nicollet Investment Management Inc.’s holdings in Alphabet were worth $15,893,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the business. 1620 Investment Advisors Inc. purchased a new stake in shares of Alphabet during the second quarter valued at $37,000. Richardson Financial Services Inc. purchased a new stake in shares of Alphabet during the fourth quarter valued at $34,000. Slocum Gordon & Co LLP purchased a new stake in shares of Alphabet during the second quarter valued at $44,000. Hoese & Co LLP grew its holdings in shares of Alphabet by 62.5% during the second quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock valued at $45,000 after buying an additional 100 shares during the last quarter. Finally, Iron Horse Wealth Management LLC purchased a new stake in shares of Alphabet during the second quarter valued at $48,000. 27.26% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. DA Davidson raised shares of Alphabet to a “hold” rating in a report on Tuesday. Wolfe Research raised shares of Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. Rosenblatt Securities lowered shares of 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. TD Cowen upped their price target on shares of Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Finally, Cantor Fitzgerald raised shares of Alphabet to a “hold” rating in a report on Thursday, September 5th. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $182.86.

Alphabet Trading Up 1.8 %

Shares of Alphabet stock opened at $158.37 on Friday. The firm has a 50-day simple moving average of $169.06 and a two-hundred day simple moving average of $165.96. The company has a market cap of $1.95 trillion, a P/E ratio of 24.29, a price-to-earnings-growth ratio of 1.13 and a beta of 1.04. Alphabet Inc. has a fifty-two week low of $121.46 and a fifty-two 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.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $84.22 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The company’s revenue was up 13.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.44 earnings per share. As a group, equities analysts predict that Alphabet Inc. will post 7.63 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 9th will be given a dividend of $0.20 per share. The ex-dividend date is Monday, September 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.51%. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 2,835 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total transaction of $429,587.55. Following the completion of the transaction, the chief accounting officer now owns 29,182 shares in the company, valued at approximately $4,421,948.46. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CAO Amie Thuener O’toole sold 2,835 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total transaction of $429,587.55. Following the completion of the transaction, the chief accounting officer now owns 29,182 shares in the company, valued at approximately $4,421,948.46. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 700 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $165.00, for a total transaction of $115,500.00. Following the completion of the sale, the director now owns 29,324 shares of the company’s stock, valued at approximately $4,838,460. The disclosure for this sale can be found here. Insiders sold a total of 201,867 shares of company stock worth $34,218,581 in the last 90 days. Insiders own 12.99% of the company’s stock.

About Alphabet

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.