Alphabet Inc. (NASDAQ:GOOG) Shares Sold by International Assets Investment Management LLC

International Assets Investment Management LLC trimmed its holdings in Alphabet Inc. (NASDAQ:GOOG) by 0.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 59,449 shares of the information services provider’s stock after selling 377 shares during the period. Alphabet accounts for about 0.6% of International Assets Investment Management LLC’s investment portfolio, making the stock its 28th largest position. International Assets Investment Management LLC’s holdings in Alphabet were worth $10,904,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in GOOG. Partnership Wealth Management LLC acquired a new stake in shares of Alphabet during the 4th quarter worth about $26,000. Pacific Capital Wealth Advisors Inc. acquired a new stake in Alphabet during the fourth quarter worth approximately $34,000. Richardson Financial Services Inc. acquired a new stake in Alphabet during the fourth quarter worth approximately $34,000. 1620 Investment Advisors Inc. purchased a new stake in Alphabet in the 2nd quarter worth approximately $37,000. Finally, Hoese & Co LLP raised its holdings in Alphabet by 62.5% in the 2nd quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock valued at $45,000 after acquiring an additional 100 shares during the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction dated 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 directly owns 29,966 shares in the company, valued at approximately $5,209,888.76. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Alphabet news, Director John L. Hennessy sold 700 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $165.00, for a total value of $115,500.00. Following the transaction, the director now owns 29,324 shares in the company, valued at approximately $4,838,460. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction dated Monday, June 3rd. The shares were 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 of the company’s stock, valued at $5,209,888.76. The disclosure for this sale can be found here. Insiders sold 179,065 shares of company stock valued at $31,025,543 over the last quarter. Company insiders own 12.99% of the company’s stock.

Alphabet Stock Up 1.0 %

Shares of NASDAQ:GOOG opened at $165.11 on Friday. The stock has a 50-day simple moving average of $175.40 and a 200-day simple moving average of $165.01. The stock has a market capitalization of $2.04 trillion, a P/E ratio of 25.32, a PEG 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 quick ratio of 2.08 and a current ratio of 2.08.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate 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 quarter in the prior year, the business earned $1.44 earnings per share. The business’s quarterly revenue was up 13.6% compared to the same quarter last year. Equities analysts forecast that Alphabet Inc. will post 7.62 earnings per share for the current year.

Alphabet Announces Dividend

The business 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 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date of this dividend is Monday, September 9th. Alphabet’s dividend payout ratio is presently 12.27%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on GOOG shares. Wolfe Research upgraded Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. Oppenheimer raised their price target on Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. TD Cowen increased their price objective on shares of Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Finally, 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 report on Friday, June 28th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target 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.