Farley Capital L.P. Sells 1,116 Shares of Alphabet Inc. $GOOG

Farley Capital L.P. lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 143,411 shares of the information services provider’s stock after selling 1,116 shares during the quarter. Alphabet makes up approximately 20.7% of Farley Capital L.P.’s investment portfolio, making the stock its 2nd largest position. Farley Capital L.P.’s holdings in Alphabet were worth $22,405,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Andina Capital Management LLC bought a new position in shares of Alphabet during the first quarter worth approximately $250,000. Texas Capital Bank Wealth Management Services Inc increased its stake in shares of Alphabet by 38.1% during the first quarter. Texas Capital Bank Wealth Management Services Inc now owns 13,273 shares of the information services provider’s stock worth $2,074,000 after purchasing an additional 3,665 shares during the period. Maven Securities LTD increased its stake in shares of Alphabet by 167.6% during the first quarter. Maven Securities LTD now owns 33,436 shares of the information services provider’s stock worth $5,224,000 after purchasing an additional 20,939 shares during the period. Laraway Financial Advisors Inc increased its stake in shares of Alphabet by 9.9% during the first quarter. Laraway Financial Advisors Inc now owns 7,225 shares of the information services provider’s stock worth $1,129,000 after purchasing an additional 651 shares during the period. Finally, Lincoln Capital LLC increased its stake in shares of Alphabet by 4.5% during the first quarter. Lincoln Capital LLC now owns 13,813 shares of the information services provider’s stock worth $2,126,000 after purchasing an additional 599 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Citizens Jmp upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Thursday, June 26th. Pivotal Research raised their price objective on Alphabet from $225.00 to $245.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. Citigroup restated a “sell” rating on shares of Alphabet in a research note on Wednesday, April 23rd. Tigress Financial restated a “strong-buy” rating on shares of Alphabet in a research note on Friday, May 2nd. Finally, Rosenblatt Securities upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 25th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have issued a buy rating and five have issued a strong buy rating to the stock. According to data from MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and an average price target of $215.19.

Alphabet Stock Down 0.3%

Shares of GOOG opened at $204.29 on Tuesday. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $208.70. The stock has a market capitalization of $2.47 trillion, a price-to-earnings ratio of 21.76, a PEG ratio of 1.38 and a beta of 1.02. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The stock has a fifty day moving average of $185.74 and a 200-day moving average of $174.51.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating analysts’ consensus estimates of $2.12 by $0.19. The company had revenue of $96.43 billion during the quarter, compared to analysts’ expectations of $93.67 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. Alphabet’s revenue was up 13.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.89 EPS. As a group, sell-side analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet’s dividend payout ratio (DPR) is currently 8.95%.

Insider Buying and Selling

In related news, insider John Kent Walker sold 23,820 shares of the firm’s stock in a transaction on Monday, August 4th. The stock was sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the completion of the transaction, the insider directly owned 42,999 shares of the company’s stock, valued at $8,371,905.30. This trade represents a 35.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total value of $5,801,900.00. Following the transaction, the chief executive officer directly owned 2,559,892 shares of the company’s stock, valued at approximately $456,991,919.84. This represents a 1.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 274,819 shares of company stock valued at $49,796,547 in the last three months. Insiders own 12.99% of the company’s stock.

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.