Alphabet Inc. (NASDAQ:GOOG) is Hall Laurie J Trustee’s 8th Largest Position

Hall Laurie J Trustee lessened its holdings in Alphabet Inc. (NASDAQ:GOOG) by 8.3% in the second quarter, HoldingsChannel reports. The institutional investor owned 42,205 shares of the information services provider’s stock after selling 3,810 shares during the quarter. Alphabet makes up 2.7% of Hall Laurie J Trustee’s portfolio, making the stock its 8th largest position. Hall Laurie J Trustee’s holdings in Alphabet were worth $7,741,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. Enzi Wealth purchased a new stake in Alphabet in the 2nd quarter worth $252,000. Liberty One Investment Management LLC increased its stake in Alphabet by 3.5% during the second quarter. Liberty One Investment Management LLC now owns 6,079 shares of the information services provider’s stock worth $1,115,000 after acquiring an additional 204 shares during the last quarter. Hobbs Group Advisors LLC bought a new stake in Alphabet during the second quarter worth approximately $620,000. LongView Wealth Management boosted its position in shares of Alphabet by 9.5% during the second quarter. LongView Wealth Management now owns 5,918 shares of the information services provider’s stock valued at $1,086,000 after buying an additional 513 shares during the period. Finally, Cidel Asset Management Inc. boosted its position in shares of Alphabet by 0.5% during the second quarter. Cidel Asset Management Inc. now owns 25,772 shares of the information services provider’s stock valued at $4,727,000 after buying an additional 139 shares during the period. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Trading Down 0.7 %

Shares of NASDAQ GOOG traded down $1.20 during trading hours on Wednesday, reaching $167.76. The stock had a trading volume of 7,121,902 shares, compared to its average volume of 20,302,371. 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 firm has a market cap of $2.07 trillion, a price-to-earnings ratio of 25.77, a P/E/G ratio of 1.28 and a beta of 1.05. The business’s fifty day moving average price is $177.02 and its two-hundred day moving average price is $164.32. Alphabet Inc. has a 52-week low of $121.46 and a 52-week high of $193.31.

Alphabet (NASDAQ:GOOG) last posted its earnings results 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 company 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%. Alphabet’s revenue was up 13.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.44 earnings per share. Analysts expect that Alphabet Inc. will post 7.62 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, September 9th will be paid a $0.20 dividend. The ex-dividend date is Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.48%. Alphabet’s dividend payout ratio is presently 12.27%.

Insider Buying and Selling at Alphabet

In other Alphabet news, SVP Prabhakar Raghavan sold 3,262 shares of Alphabet stock in a transaction on Monday, July 1st. The shares were sold at an average price of $183.99, for a total value of $600,175.38. Following the transaction, the senior vice president now directly owns 9 shares in the company, valued at $1,655.91. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, SVP Prabhakar Raghavan sold 3,262 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $183.99, for a total transaction of $600,175.38. Following the transaction, the senior vice president now owns 9 shares of the company’s stock, valued at $1,655.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $186.74, for a total transaction of $4,201,650.00. Following the transaction, the chief executive officer now directly owns 2,227,385 shares of the company’s stock, valued at approximately $415,941,874.90. The disclosure for this sale can be found here. Over the last three months, insiders have sold 156,565 shares of company stock worth $27,253,193. 12.99% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on GOOG shares. Rosenblatt Securities lowered 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. 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 company a “buy” rating in a research report on Wednesday, July 10th. Finally, Oppenheimer boosted their price target on Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price 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.