Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Mystic Asset Management Inc.

Mystic Asset Management Inc. lessened its stake in Alphabet Inc. (NASDAQ:GOOG) by 2.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,028 shares of the information services provider’s stock after selling 523 shares during the period. Alphabet accounts for approximately 1.5% of Mystic Asset Management Inc.’s portfolio, making the stock its 14th largest position. Mystic Asset Management Inc.’s holdings in Alphabet were worth $3,674,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Gilbert & Cook Inc. boosted its stake in shares of Alphabet by 15.5% during the fourth quarter. Gilbert & Cook Inc. now owns 29,159 shares of the information services provider’s stock worth $4,109,000 after buying an additional 3,924 shares during the period. Concentrum Wealth Management boosted its stake in shares of Alphabet by 25.0% during the fourth quarter. Concentrum Wealth Management now owns 16,440 shares of the information services provider’s stock worth $2,317,000 after buying an additional 3,283 shares during the period. Aveo Capital Partners LLC boosted its stake in shares of Alphabet by 2.4% during the fourth quarter. Aveo Capital Partners LLC now owns 6,647 shares of the information services provider’s stock worth $937,000 after buying an additional 154 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Alphabet during the fourth quarter worth about $620,000. Finally, NFC Investments LLC acquired a new stake in shares of Alphabet during the fourth quarter worth about $16,983,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Cantor Fitzgerald upgraded shares of Alphabet to a “hold” rating in a research note on Thursday, September 5th. Rosenblatt Securities cut shares of 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. TD Cowen increased their price target on shares of Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Oppenheimer increased their price target on shares of Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Finally, DA Davidson raised shares of Alphabet to a “hold” rating in a report on Tuesday, September 10th. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $182.86.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 2,835 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total value of $429,587.55. Following the completion of the transaction, the chief accounting officer now directly owns 29,182 shares of the company’s stock, valued at $4,421,948.46. The sale was disclosed in a filing with the SEC, which is available at this link. In other Alphabet news, CAO Amie Thuener O’toole sold 2,835 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total value of $429,587.55. Following the completion of the transaction, the chief accounting officer now directly owns 29,182 shares of the company’s stock, valued at $4,421,948.46. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $158.68, for a total transaction of $3,570,300.00. Following the completion of the sale, the chief executive officer now owns 2,137,385 shares in the company, valued at $339,160,251.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 201,867 shares of company stock valued at $34,218,581. Corporate insiders own 12.99% of the company’s stock.

Alphabet Trading Up 1.8 %

NASDAQ GOOG opened at $158.37 on Monday. Alphabet Inc. has a 52-week low of $121.46 and a 52-week high of $193.31. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $1.95 trillion, a P/E ratio of 24.29, a P/E/G ratio of 1.13 and a beta of 1.04. The firm has a 50-day moving average price of $169.06 and a 200 day moving average price of $166.35.

Alphabet (NASDAQ:GOOG) last issued its 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 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 analysts’ expectations of $84.22 billion. During the same period last year, the company posted $1.44 earnings per share. The firm’s quarterly revenue was up 13.6% compared to the same quarter last year. Equities research analysts expect that Alphabet Inc. will post 7.63 EPS for the current year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, September 9th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.51%. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

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.