17 Capital Partners LLC Has $851,000 Stake in Alphabet Inc. (NASDAQ:GOOG)

17 Capital Partners LLC reduced its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 12.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,641 shares of the information services provider’s stock after selling 677 shares during the period. 17 Capital Partners LLC’s holdings in Alphabet were worth $851,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Partnership Wealth Management LLC acquired a new position in Alphabet in the 4th quarter valued at $26,000. Equitec Proprietary Markets LLC acquired a new position in Alphabet in the fourth quarter valued at about $28,000. DiNuzzo Private Wealth Inc. bought a new stake in Alphabet during the fourth quarter worth about $32,000. Richardson Financial Services Inc. acquired a new stake in Alphabet during the fourth quarter worth about $34,000. Finally, Pacific Capital Wealth Advisors Inc. bought a new position in Alphabet in the 4th quarter valued at about $34,000. 27.26% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

GOOG has been the topic of several analyst reports. Oppenheimer increased their price target on shares of Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Wolfe Research raised Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. Rosenblatt Securities cut Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target for the company. in a report on Friday, June 28th. Finally, TD Cowen raised their price objective on Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Alphabet has an average rating of “Buy” and a consensus price target of $182.86.

Alphabet Trading Up 1.0 %

Shares of Alphabet stock traded up $1.57 on Friday, hitting $164.74. 16,853,137 shares of the company’s stock traded hands, compared to its average volume of 20,481,816. The company has a fifty day moving average of $177.37 and a two-hundred day moving average of $163.73. Alphabet Inc. has a one year low of $121.46 and a one year high of $193.31. The company has a market capitalization of $2.04 trillion, a price-to-earnings ratio of 25.27, 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:GOOG) last posted its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $84.22 billion. During the same period in the prior year, the business earned $1.44 EPS. The company’s revenue for the quarter was up 13.6% compared to the same quarter last year. As a group, sell-side analysts expect that Alphabet Inc. will post 7.62 earnings per share for the current year.

Alphabet Announces Dividend

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 paid a $0.20 dividend. The ex-dividend date of this dividend is Monday, September 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.49%. Alphabet’s dividend payout ratio is presently 12.27%.

Insider Activity at Alphabet

In other news, CAO Amie Thuener O’toole sold 682 shares of the business’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 completion of the sale, the chief accounting officer now owns 29,966 shares in the company, valued at $5,209,888.76. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $186.74, for a total value of $4,201,650.00. Following the transaction, the chief executive officer now owns 2,227,385 shares of the company’s stock, valued at approximately $415,941,874.90. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the business’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 value of $118,572.52. Following the sale, the chief accounting officer now directly owns 29,966 shares of the company’s stock, valued at $5,209,888.76. The disclosure for this sale can be found here. Insiders sold 155,865 shares of company stock valued at $27,137,693 in the last three months. Corporate insiders own 12.99% of the company’s stock.

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.