DeDora Capital Inc. Decreases Position in Alphabet Inc. (NASDAQ:GOOG)

DeDora Capital Inc. trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 24,783 shares of the information services provider’s stock after selling 432 shares during the quarter. Alphabet makes up 1.4% of DeDora Capital Inc.’s portfolio, making the stock its 18th biggest holding. DeDora Capital Inc.’s holdings in Alphabet were worth $4,546,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Partnership Wealth Management LLC acquired a new position in shares of Alphabet in the fourth quarter worth $26,000. Equitec Proprietary Markets LLC acquired a new position in Alphabet in the fourth quarter valued at $28,000. DiNuzzo Private Wealth Inc. acquired a new position in Alphabet in the fourth quarter valued at $32,000. Richardson Financial Services Inc. acquired a new position in Alphabet in the fourth quarter valued at $34,000. Finally, Pacific Capital Wealth Advisors Inc. acquired a new position in Alphabet in the fourth quarter valued at $34,000. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Stock Up 1.4 %

GOOG traded up $2.34 on Friday, reaching $165.51. The company’s stock had a trading volume of 10,182,844 shares, compared to its average volume of 20,438,408. The stock has a market cap of $2.05 trillion, a price-to-earnings ratio of 25.43, a price-to-earnings-growth ratio of 1.28 and a beta of 1.05. Alphabet Inc. has a 1 year low of $121.46 and a 1 year 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. The business’s 50 day moving average is $177.60 and its 200 day moving average is $163.66.

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

Alphabet Announces Dividend

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 paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend is Monday, September 9th. Alphabet’s payout ratio is currently 12.27%.

Wall Street Analysts Forecast Growth

GOOG has been the subject of several analyst reports. Oppenheimer upped their target price on Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. TD Cowen upped 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 lowered Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price for the company. in a research note on Friday, June 28th. Finally, Wolfe Research raised Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Alphabet presently has a consensus rating of “Buy” and a consensus target price of $182.86.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $173.86, for a total transaction of $118,572.52. Following the sale, the chief accounting officer now owns 29,966 shares in the company, valued at $5,209,888.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the company’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 transaction of $3,973,050.00. Following the sale, the chief executive officer now 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, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $173.86, for a total value of $118,572.52. Following the sale, the chief accounting officer now owns 29,966 shares in the company, valued at $5,209,888.76. The disclosure for this sale can be found here. Insiders have sold 121,608 shares of company stock worth $21,567,504 over the last quarter. 12.99% of the stock is owned by corporate insiders.

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.