Sargent Investment Group LLC Sells 1,095 Shares of Alphabet Inc. (NASDAQ:GOOG)

Sargent Investment Group LLC lowered its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 3.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,654 shares of the information services provider’s stock after selling 1,095 shares during the period. Alphabet makes up approximately 1.1% of Sargent Investment Group LLC’s portfolio, making the stock its 22nd largest position. Sargent Investment Group LLC’s holdings in Alphabet were worth $5,623,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Richardson Financial Services Inc. purchased a new position in shares of Alphabet in the fourth quarter worth $34,000. 1620 Investment Advisors Inc. purchased a new stake in shares of Alphabet during the second quarter valued at $37,000. Slocum Gordon & Co LLP bought a new stake in Alphabet in the 2nd quarter worth about $44,000. Hoese & Co LLP raised its position in 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. Finally, Iron Horse Wealth Management LLC bought a new position in Alphabet during the 2nd quarter valued at about $48,000. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of Alphabet 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, SVP Prabhakar Raghavan sold 3,262 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $183.99, for a total transaction of $600,175.38. Following the completion of the transaction, the senior vice president now directly owns 9 shares of the company’s stock, valued at $1,655.91. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet 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 completion of 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 quarter, insiders have sold 202,667 shares of company stock valued at $34,341,581. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Trading Up 0.8 %

Shares of Alphabet stock opened at $160.28 on Wednesday. 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 company has a fifty day moving average of $167.82 and a 200 day moving average of $166.64. The company has a market capitalization of $1.98 trillion, a P/E ratio of 24.58, a P/E/G ratio of 1.13 and a beta of 1.04. Alphabet Inc. has a fifty-two week low of $121.46 and a fifty-two week high of $193.31.

Alphabet (NASDAQ:GOOG) last released its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (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 analysts’ expectations of $84.22 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The firm’s revenue was up 13.6% on a year-over-year basis. During the same quarter last year, the business posted $1.44 earnings per share. On average, sell-side analysts anticipate that Alphabet Inc. will post 7.63 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.50%. The ex-dividend date was Monday, September 9th. Alphabet’s payout ratio is currently 12.27%.

Analyst Ratings Changes

A number of equities research analysts have commented on GOOG shares. DA Davidson raised shares of Alphabet to a “hold” rating in a research report on Tuesday, September 10th. Cantor Fitzgerald upgraded Alphabet to a “hold” rating in a research note on Thursday, September 5th. Rosenblatt Securities cut Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price on the stock. in a report on Friday, June 28th. Wolfe Research raised Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. Finally, TD Cowen raised their price objective on Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Alphabet has an average rating of “Moderate 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.