Alphabet Inc. (NASDAQ:GOOG) Stock Holdings Decreased by Udine Wealth Management Inc.

Udine Wealth Management Inc. decreased its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 5.8% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 65,565 shares of the information services provider’s stock after selling 4,056 shares during the quarter. Alphabet makes up approximately 8.3% of Udine Wealth Management Inc.’s portfolio, making the stock its 5th largest holding. Udine Wealth Management Inc.’s holdings in Alphabet were worth $11,943,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Twelve Points Wealth Management LLC raised its stake in shares of Alphabet by 0.7% during the 2nd quarter. Twelve Points Wealth Management LLC now owns 7,985 shares of the information services provider’s stock worth $1,465,000 after buying an additional 55 shares in the last quarter. Mark Sheptoff Financial Planning LLC boosted its holdings in shares of Alphabet by 11.1% during the first quarter. Mark Sheptoff Financial Planning LLC now owns 600 shares of the information services provider’s stock worth $91,000 after purchasing an additional 60 shares during the last quarter. Shira Ridge Wealth Management boosted its holdings in shares of Alphabet by 0.4% during the second quarter. Shira Ridge Wealth Management now owns 15,490 shares of the information services provider’s stock worth $2,841,000 after purchasing an additional 60 shares during the last quarter. Strait & Sound Wealth Management LLC boosted its holdings in shares of Alphabet by 2.2% during the first quarter. Strait & Sound Wealth Management LLC now owns 2,898 shares of the information services provider’s stock worth $466,000 after purchasing an additional 61 shares during the last quarter. Finally, Woodward Diversified Capital LLC boosted its holdings in Alphabet by 0.7% in the first quarter. Woodward Diversified Capital LLC now owns 8,609 shares of the information services provider’s stock valued at $1,311,000 after acquiring an additional 62 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on GOOG. Stifel Nicolaus raised their price objective on Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Oppenheimer lifted their price target on Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. TD Cowen lifted their target price on Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Rosenblatt Securities downgraded Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective for the company. in a research report on Friday, June 28th. Finally, Wolfe Research raised Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Alphabet presently has an average rating of “Buy” and an average target price of $182.86.

Alphabet Stock Down 0.3 %

Shares of NASDAQ:GOOG traded down $0.46 during midday trading on Monday, reaching $164.93. 5,483,188 shares of the company were exchanged, compared to its average volume of 20,511,137. The firm has a market cap of $2.04 trillion, a PE ratio of 25.37, a P/E/G ratio of 1.28 and a beta of 1.05. Alphabet Inc. has a fifty-two week low of $121.46 and a fifty-two week high of $193.31. The stock has a fifty day simple moving average of $178.60 and a two-hundred day simple moving average of $163.51. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data 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 company had revenue of $84.74 billion during the quarter, compared to the consensus estimate of $84.22 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The company’s quarterly revenue was up 13.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.44 EPS. As a group, sell-side analysts forecast that Alphabet Inc. will post 7.62 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 9th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.49%. The ex-dividend date is Monday, September 9th. Alphabet’s payout ratio is presently 12.27%.

Insider Activity

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $162.35, for a total value of $3,652,875.00. Following the completion of the transaction, the chief executive officer now directly owns 2,182,385 shares in the company, valued at approximately $354,310,204.75. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $173.86, for a total transaction of $118,572.52. Following the transaction, the chief accounting officer now directly owns 29,966 shares of the company’s stock, valued at $5,209,888.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the transaction, the chief executive officer now directly owns 2,182,385 shares in the company, valued at $354,310,204.75. The disclosure for this sale can be found here. In the last ninety days, insiders sold 143,308 shares of company stock worth $25,334,530. 12.99% of the stock is currently owned by corporate insiders.

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.