Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Heron Bay Capital Management

Heron Bay Capital Management reduced its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 9.8% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 17,375 shares of the information services provider’s stock after selling 1,892 shares during the period. Heron Bay Capital Management’s holdings in Alphabet were worth $3,187,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. 1620 Investment Advisors Inc. purchased a new position in Alphabet in the 2nd quarter valued at $37,000. Richardson Financial Services Inc. acquired a new stake in shares of Alphabet in the fourth quarter valued at about $34,000. Slocum Gordon & Co LLP purchased a new position in shares of Alphabet in the second quarter worth about $44,000. Hoese & Co LLP boosted 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 acquiring an additional 100 shares during the last quarter. Finally, Iron Horse Wealth Management LLC purchased a new stake in Alphabet during the 2nd quarter valued at about $48,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Trading Up 0.9 %

Shares of GOOG stock opened at $164.64 on Friday. Alphabet Inc. has a 1-year low of $121.46 and a 1-year high of $193.31. The firm has a market cap of $2.03 trillion, a PE ratio of 25.25, a price-to-earnings-growth ratio of 1.13 and a beta of 1.04. The company has a 50-day moving average of $166.26 and a two-hundred day moving average of $167.02. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08.

Alphabet (NASDAQ:GOOG) last posted 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 firm had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $84.22 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The firm’s quarterly revenue was up 13.6% on a year-over-year basis. During the same quarter last year, the company posted $1.44 EPS. On average, analysts predict that Alphabet Inc. will post 7.63 EPS for the current year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors 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%.

Insider Activity at Alphabet

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 shares were sold at an average price of $151.53, for a total transaction of $429,587.55. Following the sale, the chief accounting officer now directly owns 29,182 shares in the company, valued at $4,421,948.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $186.74, for a total value of $4,201,650.00. Following the completion of the transaction, the chief executive officer now directly owns 2,227,385 shares in the company, valued at $415,941,874.90. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 2,835 shares of the company’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 sale, 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. Insiders sold 202,667 shares of company stock worth $33,964,256 in the last three months. 12.99% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on GOOG shares. Cantor Fitzgerald upgraded Alphabet to a “hold” rating in a report on Thursday, September 5th. DA Davidson upgraded Alphabet to a “hold” rating in a report on Tuesday, September 10th. TD Cowen lifted their price target on Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Rosenblatt Securities lowered shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective for the company. in a report on Friday, June 28th. Finally, Wolfe Research raised shares of Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. Three 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 company’s stock. According to MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and a consensus price target of $182.86.

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.