Falcon Wealth Planning Has $2.21 Million Position in Alphabet Inc. (NASDAQ:GOOG)

Falcon Wealth Planning cut its holdings in Alphabet Inc. (NASDAQ:GOOG) by 13.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,049 shares of the information services provider’s stock after selling 1,862 shares during the quarter. Falcon Wealth Planning’s holdings in Alphabet were worth $2,210,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in GOOG. Twelve Points Wealth Management LLC boosted 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 valued at $1,465,000 after purchasing an additional 55 shares in the last quarter. PCG Wealth Advisors LLC grew its holdings in shares of Alphabet by 3.1% during the 2nd quarter. PCG Wealth Advisors LLC now owns 1,880 shares of the information services provider’s stock worth $345,000 after acquiring an additional 57 shares during the period. Mark Sheptoff Financial Planning LLC raised its position in shares of Alphabet by 11.1% in the 1st quarter. Mark Sheptoff Financial Planning LLC now owns 600 shares of the information services provider’s stock worth $91,000 after acquiring an additional 60 shares in the last quarter. Shira Ridge Wealth Management lifted its stake in shares of Alphabet by 0.4% in the 2nd quarter. Shira Ridge Wealth Management now owns 15,490 shares of the information services provider’s stock valued at $2,841,000 after purchasing an additional 60 shares during the period. Finally, Strait & Sound Wealth Management LLC boosted its position 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 valued at $466,000 after purchasing an additional 61 shares in the last quarter. 27.26% of the stock is owned by institutional investors.

Alphabet Stock Performance

Shares of NASDAQ GOOG traded down $5.32 during midday trading on Wednesday, hitting $160.61. 15,925,517 shares of the stock traded hands, compared to its average volume of 20,476,346. The firm has a market capitalization of $1.98 trillion, a P/E ratio of 24.63, a PEG ratio of 1.28 and a beta of 1.05. Alphabet Inc. has a one year low of $121.46 and a one year high of $193.31. 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 firm has a 50-day moving average of $178.20 and a two-hundred day moving average of $163.67.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results 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. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The business had revenue of $84.74 billion during the quarter, compared to the consensus estimate of $84.22 billion. During the same period in the previous year, the company posted $1.44 EPS. The business’s quarterly revenue was up 13.6% compared to the same quarter last year. On average, equities analysts forecast that Alphabet Inc. will post 7.62 EPS for the current fiscal year.

Alphabet Announces Dividend

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

Insider Transactions at Alphabet

In other 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 approximately $394,746,532.38. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $173.86, for a total value of $118,572.52. Following the completion of the transaction, the chief accounting officer now owns 29,966 shares of the company’s stock, valued at $5,209,888.76. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $176.58, for a total value of $3,973,050.00. Following the completion of the transaction, the chief executive officer now directly owns 2,235,511 shares in the company, valued at $394,746,532.38. The disclosure for this sale can be found here. Insiders sold 121,608 shares of company stock worth $21,567,504 in the last three months. Corporate insiders own 12.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages 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. TD Cowen boosted 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. Oppenheimer raised their target price on shares of Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Wolfe Research raised Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. Finally, Rosenblatt Securities downgraded shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective on the stock. in a research report on Friday, June 28th. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Alphabet presently has a consensus rating of “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.