Pacer Advisors Inc. Sells 32,858 Shares of Alphabet Inc. (NASDAQ:GOOG)

Pacer Advisors Inc. trimmed its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 6.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 450,148 shares of the information services provider’s stock after selling 32,858 shares during the quarter. Pacer Advisors Inc.’s holdings in Alphabet were worth $82,566,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GOOG. Richardson Financial Services Inc. bought a new position in Alphabet during the fourth quarter worth $34,000. 1620 Investment Advisors Inc. bought a new stake in shares of Alphabet in the second quarter valued at about $37,000. Slocum Gordon & Co LLP bought a new stake in shares of Alphabet in the second quarter valued at about $44,000. Hoese & Co LLP boosted its position in shares of Alphabet by 62.5% in the second quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock valued at $45,000 after acquiring an additional 100 shares during the period. Finally, Iron Horse Wealth Management LLC bought a new stake in shares of Alphabet in the second quarter valued at about $48,000. 27.26% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Alphabet 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 transaction of $429,587.55. Following the completion of the transaction, the chief accounting officer now owns 29,182 shares of the company’s stock, valued at $4,421,948.46. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CAO Amie Thuener O’toole sold 2,835 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief accounting officer now owns 29,182 shares of the company’s stock, valued at $4,421,948.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John L. Hennessy sold 800 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $153.75, for a total value of $123,000.00. Following the completion of the transaction, the director now directly owns 28,524 shares of the company’s stock, valued at approximately $4,385,565. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 202,667 shares of company stock valued at $33,964,256. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Stock Up 0.9 %

Shares of NASDAQ GOOG opened at $164.64 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. The company has a market cap of $2.03 trillion, a price-to-earnings ratio of 25.25, a PEG ratio of 1.13 and a beta of 1.04. Alphabet Inc. has a 12 month low of $121.46 and a 12 month high of $193.31. The stock has a 50-day moving average price of $166.26 and a two-hundred day moving average price of $167.02.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, topping the consensus estimate of $1.85 by $0.04. The firm had revenue of $84.74 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.44 earnings per share. As a group, 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 was paid on Monday, September 16th. Shareholders of record on Monday, September 9th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.49%. The ex-dividend date of this dividend was Monday, September 9th. Alphabet’s payout ratio is 12.27%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. DA Davidson raised shares of Alphabet to a “hold” rating in a research report on Tuesday, September 10th. Wolfe Research raised shares of Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. Cantor Fitzgerald raised shares of Alphabet to a “hold” rating in a research report on Thursday, September 5th. Oppenheimer boosted their target price on shares of Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Finally, TD Cowen boosted their target price on shares of Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and a consensus target price of $182.86.

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.