Bigelow Investment Advisors LLC Trims Holdings in Alphabet Inc. (NASDAQ:GOOG)

Bigelow Investment Advisors LLC cut its stake in Alphabet Inc. (NASDAQ:GOOG) by 3.5% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 13,245 shares of the information services provider’s stock after selling 480 shares during the quarter. Alphabet comprises about 1.2% of Bigelow Investment Advisors LLC’s holdings, making the stock its 18th largest position. Bigelow Investment Advisors LLC’s holdings in Alphabet were worth $2,429,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in GOOG. Richardson Financial Services Inc. purchased a new position in shares of Alphabet in the fourth quarter valued at $34,000. 1620 Investment Advisors Inc. purchased a new position in shares of Alphabet in the second quarter valued at $37,000. Slocum Gordon & Co LLP purchased a new position in shares of Alphabet in the second quarter valued at $44,000. Hoese & Co LLP grew its position 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 buying an additional 100 shares in the last quarter. Finally, Iron Horse Wealth Management LLC purchased a new position in Alphabet during the second quarter worth about $48,000. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CAO Amie Thuener O’toole sold 2,835 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was 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 transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, SVP Prabhakar Raghavan sold 34,257 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the transaction, the senior vice president now owns 312,210 shares in the company, valued at approximately $50,765,346. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 2,835 shares of the business’s 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 transaction, the chief accounting officer now owns 29,182 shares in the company, valued at approximately $4,421,948.46. The disclosure for this sale can be found here. In the last quarter, insiders sold 201,867 shares of company stock valued at $34,218,581. Insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Wolfe Research upgraded Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. 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. DA Davidson upgraded Alphabet to a “hold” rating in a research report on Tuesday, September 10th. Oppenheimer boosted their target price on Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Finally, Rosenblatt Securities cut Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price for the company. in a research report on Friday, June 28th. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $182.86.

Alphabet Trading Up 1.8 %

Shares of GOOG stock opened at $158.37 on Monday. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. The business has a 50-day moving average price of $169.06 and a two-hundred day moving average price of $166.35. Alphabet Inc. has a 12-month low of $121.46 and a 12-month high of $193.31. The firm 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 (NASDAQ:GOOG) last issued its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $84.22 billion. During the same quarter in the previous year, the company posted $1.44 earnings per share. The company’s revenue was up 13.6% compared to the same quarter last year. Equities analysts anticipate that Alphabet Inc. will post 7.63 EPS for the current fiscal year.

Alphabet Dividend Announcement

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