Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Albert D Mason Inc.

Albert D Mason Inc. cut its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.4% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 23,069 shares of the information services provider’s stock after selling 104 shares during the period. Alphabet makes up approximately 2.9% of Albert D Mason Inc.’s holdings, making the stock its biggest holding. Albert D Mason Inc.’s holdings in Alphabet were worth $4,231,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. NorthCrest Asset Manangement LLC grew its stake in shares of Alphabet by 2.1% during the second quarter. NorthCrest Asset Manangement LLC now owns 55,107 shares of the information services provider’s stock valued at $10,108,000 after acquiring an additional 1,143 shares in the last quarter. Ipswich Investment Management Co. Inc. increased its stake in shares of Alphabet by 1.0% in the second quarter. Ipswich Investment Management Co. Inc. now owns 15,996 shares of the information services provider’s stock worth $2,934,000 after buying an additional 160 shares during the last quarter. Apeiron RIA LLC acquired a new stake in Alphabet in the second quarter valued at $242,000. Diversified Trust Co boosted its stake in Alphabet by 3.1% during the 2nd quarter. Diversified Trust Co now owns 109,661 shares of the information services provider’s stock valued at $20,114,000 after acquiring an additional 3,261 shares during the last quarter. Finally, Maia Wealth LLC bought a new stake in shares of Alphabet in the 2nd quarter worth about $781,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Price Performance

GOOG stock traded down $6.11 during trading on Wednesday, hitting $159.82. The company had a trading volume of 9,969,400 shares, compared to its average volume of 20,438,164. The firm has a market capitalization of $1.98 trillion, a price-to-earnings ratio of 24.63, a P/E/G ratio of 1.28 and a beta of 1.05. 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 business has a 50 day moving average of $178.20 and a 200 day moving average of $163.67. Alphabet Inc. has a fifty-two week low of $121.46 and a fifty-two week high of $193.31.

Alphabet (NASDAQ:GOOG) last issued its quarterly 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. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The company had revenue of $84.74 billion during the quarter, compared to analyst estimates of $84.22 billion. During the same period in the prior year, the business posted $1.44 EPS. The business’s revenue for the quarter was up 13.6% compared to the same quarter last year. As a group, research analysts predict that Alphabet Inc. will post 7.62 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 9th will be 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 is Monday, September 9th. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

Insider Transactions at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $176.58, for a total transaction of $3,973,050.00. Following the transaction, the chief executive officer now directly owns 2,235,511 shares of the company’s stock, valued at $394,746,532.38. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $176.58, for a total transaction of $3,973,050.00. Following the completion of the sale, the chief executive officer now directly owns 2,235,511 shares in the company, valued at $394,746,532.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director John L. Hennessy sold 800 shares of the company’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $163.03, for a total value of $130,424.00. Following the completion of the transaction, the director now directly owns 30,024 shares in the company, valued at approximately $4,894,812.72. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 121,608 shares of company stock valued at $21,567,504. Corporate insiders own 12.99% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on GOOG. TD Cowen boosted their target price on shares of Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Oppenheimer increased their target price on Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Wolfe Research upgraded shares of Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. Stifel Nicolaus lifted their price objective on shares of Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research 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 research report on Friday, June 28th. One 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 stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $182.86.

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.