Family Investment Center Inc. Sells 865 Shares of Alphabet Inc. (NASDAQ:GOOG)

Family Investment Center Inc. lowered its holdings in Alphabet Inc. (NASDAQ:GOOG) by 34.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,628 shares of the information services provider’s stock after selling 865 shares during the quarter. Family Investment Center Inc.’s holdings in Alphabet were worth $299,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC acquired a new position in Alphabet in the fourth quarter valued at approximately $8,232,000. Quantum Private Wealth LLC lifted its holdings in Alphabet by 0.4% in the fourth quarter. Quantum Private Wealth LLC now owns 53,327 shares of the information services provider’s stock valued at $7,515,000 after buying an additional 217 shares during the period. Sfmg LLC lifted its holdings in Alphabet by 0.4% in the fourth quarter. Sfmg LLC now owns 70,902 shares of the information services provider’s stock valued at $9,992,000 after buying an additional 311 shares during the period. Elite Wealth Management Inc. lifted its holdings in Alphabet by 0.5% in the fourth quarter. Elite Wealth Management Inc. now owns 34,064 shares of the information services provider’s stock valued at $4,801,000 after buying an additional 172 shares during the period. Finally, Goodman Advisory Group LLC lifted its holdings in Alphabet by 19.4% in the fourth quarter. Goodman Advisory Group LLC now owns 3,313 shares of the information services provider’s stock valued at $467,000 after buying an additional 539 shares during the period. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have commented on GOOG shares. Wolfe Research raised shares of Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. TD Cowen upped 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. Rosenblatt Securities downgraded shares of 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, Oppenheimer increased their price objective 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. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Alphabet has a consensus rating of “Buy” and a consensus target price of $182.86.

Alphabet Stock Performance

GOOG stock traded up $1.57 during trading hours on Friday, reaching $164.74. The stock had a trading volume of 16,853,137 shares, compared to its average volume of 20,481,816. The stock has a market capitalization of $2.04 trillion, a PE 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. The stock has a 50-day simple moving average of $177.37 and a 200 day simple moving average of $163.96. Alphabet Inc. has a fifty-two week low of $121.46 and a fifty-two week high of $193.31.

Alphabet (NASDAQ:GOOG) last announced 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 analysts’ expectations of $84.22 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The company’s revenue for the quarter was up 13.6% compared to the same quarter last year. During the same quarter last year, the company posted $1.44 earnings per share. Analysts predict that Alphabet Inc. will post 7.62 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business 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 dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date is Monday, September 9th. Alphabet’s dividend payout ratio is presently 12.27%.

Insider Transactions at Alphabet

In other Alphabet news, SVP Prabhakar Raghavan sold 34,257 shares of Alphabet stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $162.60, for a total value of $5,570,188.20. Following the completion of the sale, the senior vice president now owns 312,210 shares in the company, valued at approximately $50,765,346. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $176.58, for a total value 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 is available through this link. Also, SVP Prabhakar Raghavan sold 34,257 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the completion of the transaction, the senior vice president now directly owns 312,210 shares in the company, valued at $50,765,346. The disclosure for this sale can be found here. In the last 90 days, insiders sold 155,865 shares of company stock worth $27,137,693. 12.99% of the stock is owned by 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.