EverSource Wealth Advisors LLC Sells 2,611 Shares of Alphabet Inc. (NASDAQ:GOOG)

EverSource Wealth Advisors LLC cut its stake in Alphabet Inc. (NASDAQ:GOOG) by 4.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 57,598 shares of the information services provider’s stock after selling 2,611 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Alphabet were worth $9,483,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Partnership Wealth Management LLC acquired a new position in shares of Alphabet in the fourth quarter valued at about $26,000. Equitec Proprietary Markets LLC acquired a new stake in Alphabet during the fourth quarter worth about $28,000. DiNuzzo Private Wealth Inc. acquired a new stake in Alphabet during the fourth quarter worth about $32,000. Pacific Capital Wealth Advisors Inc. acquired a new stake in Alphabet during the fourth quarter worth about $34,000. Finally, Richardson Financial Services Inc. acquired a new stake in Alphabet during the fourth quarter worth about $34,000. 27.26% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $168.00, for a total transaction of $114,576.00. Following the completion of the transaction, the chief accounting officer now owns 31,334 shares in the company, valued at approximately $5,264,112. The transaction was disclosed in a document filed 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 firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $168.00, for a total transaction of $114,576.00. Following the completion of the transaction, the chief accounting officer now owns 31,334 shares in the company, valued at approximately $5,264,112. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $168.08, for a total transaction of $252,120.00. Following the sale, the director now directly owns 4,391 shares of the company’s stock, valued at approximately $738,039.28. The disclosure for this sale can be found here. In the last 90 days, insiders sold 122,308 shares of company stock worth $21,933,775. 12.99% of the stock is currently owned by insiders.

Alphabet Trading Down 2.3 %

NASDAQ GOOG traded down $4.05 during trading hours on Friday, reaching $168.40. The company’s stock had a trading volume of 18,907,773 shares, compared to its average volume of 16,999,430. The firm has a fifty day simple moving average of $179.96 and a 200-day simple moving average of $162.74. The stock has a market cap of $2.07 trillion, a P/E ratio of 25.83, a P/E/G ratio of 1.28 and a beta of 1.05. 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 current ratio of 2.08 and a quick ratio of 2.08.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. The business had revenue of $84.74 billion during the quarter, compared to analyst estimates 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 business earned $1.44 EPS. Equities analysts forecast that Alphabet Inc. will post 7.62 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, September 9th will be issued a dividend of $0.20 per share. The ex-dividend date is Monday, September 9th. This represents a $0.80 annualized dividend and a yield of 0.48%. Alphabet’s payout ratio is 3.07%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on GOOG shares. TD Cowen increased their price objective on shares of Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Morgan Stanley reiterated an “overweight” rating and set a $165.00 price objective on shares of Alphabet in a research note on Thursday, April 11th. Oppenheimer increased their target price on shares of Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Stifel Nicolaus increased their target price on shares of Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Finally, Rosenblatt Securities cut shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price for the company. in a report on Friday, June 28th. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $182.86.

Alphabet 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.