Curbstone Financial Management Corp Sells 250 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Curbstone Financial Management Corp trimmed its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 3.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,480 shares of the information services provider’s stock after selling 250 shares during the quarter. Curbstone Financial Management Corp’s holdings in Alphabet were worth $1,362,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Hilltop Wealth Advisors LLC bought a new position in Alphabet in the 2nd quarter worth approximately $235,000. First Financial Bank Trust Division raised its holdings in shares of Alphabet by 7.6% during the 2nd quarter. First Financial Bank Trust Division now owns 87,878 shares of the information services provider’s stock worth $16,007,000 after acquiring an additional 6,210 shares in the last quarter. Marcum Wealth LLC raised its holdings in shares of Alphabet by 8.0% during the 2nd quarter. Marcum Wealth LLC now owns 21,059 shares of the information services provider’s stock worth $3,836,000 after acquiring an additional 1,565 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Alphabet by 52.9% during the 2nd quarter. GAMMA Investing LLC now owns 65,283 shares of the information services provider’s stock worth $11,891,000 after acquiring an additional 22,593 shares in the last quarter. Finally, Park Place Capital Corp raised its holdings in shares of Alphabet by 18.2% during the 2nd quarter. Park Place Capital Corp now owns 18,513 shares of the information services provider’s stock worth $3,372,000 after acquiring an additional 2,847 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors.

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction 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 transaction, the chief accounting officer now directly owns 31,334 shares of the company’s stock, valued at approximately $5,264,112. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $168.00, for a total value of $114,576.00. Following the sale, the chief accounting officer now directly owns 31,334 shares of the company’s stock, valued at approximately $5,264,112. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $173.22, for a total transaction of $3,897,450.00. Following the completion of the sale, the chief executive officer now directly owns 2,258,011 shares in the company, valued at $391,132,665.42. The disclosure for this sale can be found here. Insiders have sold a total of 99,808 shares of company stock valued at $17,732,125 in the last ninety days. 11.55% of the stock is currently owned by company insiders.

Alphabet Stock Up 1.8 %

GOOGL stock opened at $161.17 on Wednesday. The company has a fifty day moving average price of $177.75 and a 200 day moving average price of $161.77. Alphabet Inc. has a 12 month low of $120.21 and a 12 month high of $191.75. The company has a market cap of $1.98 trillion, a price-to-earnings ratio of 24.28, a price-to-earnings-growth ratio of 1.28 and a beta of 1.05. 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:GOOGL) last announced its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 EPS 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 the consensus estimate of $70.60 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same quarter in the prior year, the firm earned $1.44 EPS. Sell-side analysts expect that Alphabet Inc. will post 7.62 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, September 9th will be given 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 yield of 0.50%. Alphabet’s payout ratio is currently 12.27%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on GOOGL shares. Royal Bank of Canada upped their price objective on Alphabet from $200.00 to $204.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Wells Fargo & Company increased their price target on Alphabet from $187.00 to $190.00 and gave the company an “equal weight” rating in a report on Wednesday, July 24th. Needham & Company LLC reiterated a “buy” rating and issued a $210.00 target price on shares of Alphabet in a research note on Tuesday. Loop Capital reiterated a “hold” rating and issued a $170.00 target price on shares of Alphabet in a research note on Wednesday, July 3rd. Finally, Mizuho increased their price target on Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Six research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $203.74.

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.