Mcmorgan & Co. LLC Sells 3,720 Shares of Alphabet Inc. (NASDAQ:GOOG)

Mcmorgan & Co. LLC decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 34.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,165 shares of the information services provider’s stock after selling 3,720 shares during the period. Mcmorgan & Co. LLC’s holdings in Alphabet were worth $1,314,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Abich Financial Wealth Management LLC grew its holdings in shares of Alphabet by 9,200.0% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock worth $34,000 after acquiring an additional 184 shares during the period. 1620 Investment Advisors Inc. purchased a new stake in shares of Alphabet in the 2nd quarter worth approximately $37,000. Richardson Financial Services Inc. purchased a new stake in shares of Alphabet in the 4th quarter worth approximately $34,000. Slocum Gordon & Co LLP purchased a new stake in shares of Alphabet in the 2nd quarter worth approximately $44,000. Finally, Hoese & Co LLP grew its stake in shares of Alphabet by 62.5% in the 2nd quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock worth $45,000 after buying an additional 100 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on GOOG shares. TD Cowen increased their target price on Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Oppenheimer cut their target price on Alphabet from $210.00 to $185.00 and set an “outperform” rating on the stock in a research note on Wednesday. Cantor Fitzgerald upgraded Alphabet to a “hold” rating in a research note on Thursday, September 5th. DA Davidson upgraded Alphabet to a “hold” rating in a research note on Tuesday, September 10th. Finally, Rosenblatt Securities cut 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. Three 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 stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $179.29.

Alphabet Trading Up 0.5 %

Shares of GOOG stock opened at $163.83 on Friday. Alphabet Inc. has a 52-week low of $121.46 and a 52-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. The firm has a market capitalization of $2.02 trillion, a PE ratio of 25.13, a PEG ratio of 1.21 and a beta of 1.04. The stock has a fifty day simple moving average of $164.93 and a two-hundred day simple moving average of $167.62.

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, beating analysts’ consensus estimates 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 quarter last year, the business posted $1.44 earnings per share. On average, analysts predict that Alphabet Inc. will post 7.63 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were given a $0.20 dividend. The ex-dividend date of this dividend was Monday, September 9th. This represents a $0.80 annualized dividend and a yield of 0.49%. Alphabet’s dividend payout ratio is currently 12.27%.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total value of $125,126.54. Following the completion of the sale, the chief accounting officer now owns 30,650 shares of the company’s stock, valued at $5,623,355.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Alphabet news, SVP Prabhakar Raghavan sold 3,262 shares of the stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $183.99, for a total transaction of $600,175.38. Following the sale, the senior vice president now directly owns 9 shares of the company’s stock, valued at approximately $1,655.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $183.47, for a total transaction of $125,126.54. Following the sale, the chief accounting officer now directly owns 30,650 shares in the company, valued at $5,623,355.50. The disclosure for this sale can be found here. Insiders sold a total of 203,367 shares of company stock valued at $34,079,756 over the last 90 days. Insiders own 12.99% of the company’s stock.

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.