Blue Zone Wealth Advisors LLC Lowers Holdings in Alphabet Inc. (NASDAQ:GOOG)

Blue Zone Wealth Advisors LLC lowered its holdings in Alphabet Inc. (NASDAQ:GOOG) by 33.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,362 shares of the information services provider’s stock after selling 2,153 shares during the quarter. Blue Zone Wealth Advisors LLC’s holdings in Alphabet were worth $800,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of GOOG. Partnership Wealth Management LLC bought a new stake in Alphabet during the fourth quarter valued at about $26,000. Equitec Proprietary Markets LLC bought a new stake in Alphabet during the fourth quarter valued at about $28,000. DiNuzzo Private Wealth Inc. bought a new stake in Alphabet during the fourth quarter valued at about $32,000. Pacific Capital Wealth Advisors Inc. bought a new stake in Alphabet during the fourth quarter valued at about $34,000. Finally, Richardson Financial Services Inc. bought a new stake in Alphabet during the fourth quarter valued at about $34,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Trading Up 0.9 %

Shares of GOOG traded up $1.55 during mid-day trading on Friday, reaching $165.39. 13,549,230 shares of the company’s stock traded hands, compared to its average volume of 20,609,316. The stock has a market cap of $2.04 trillion, a P/E ratio of 25.37, a P/E/G ratio of 1.28 and a beta of 1.05. The stock’s 50-day moving average is $178.60 and its two-hundred day moving average is $163.42. Alphabet Inc. has a 12 month low of $121.46 and a 12 month high of $193.31. 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 released its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. The firm had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $84.22 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The company’s quarterly revenue was up 13.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.44 earnings per share. Research analysts forecast that Alphabet Inc. will post 7.62 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm 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 dividend of $0.20 per share. The ex-dividend date is Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.48%. Alphabet’s dividend payout ratio is 12.27%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on GOOG. Stifel Nicolaus upped their price objective on Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. 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. Rosenblatt Securities downgraded Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price on the stock. in a research report on Friday, June 28th. Finally, 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. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $182.86.

Insider Activity

In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now owns 2,227,385 shares of the company’s stock, valued at $415,941,874.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total transaction of $114,576.00. Following the sale, the chief accounting officer now owns 31,334 shares of the company’s stock, valued at approximately $5,264,112. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $186.74, for a total value of $4,201,650.00. Following the sale, the chief executive officer now directly owns 2,227,385 shares in the company, valued at approximately $415,941,874.90. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 144,808 shares of company stock valued at $25,586,650. 12.99% of the stock is currently owned by insiders.

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.