First Long Island Investors LLC Sells 304 Shares of Alphabet Inc. $GOOG

First Long Island Investors LLC cut its stake in Alphabet Inc. (NASDAQ:GOOG) by 0.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 64,354 shares of the information services provider’s stock after selling 304 shares during the period. First Long Island Investors LLC’s holdings in Alphabet were worth $10,054,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. JDM Financial Group LLC boosted its holdings in Alphabet by 10.6% in the fourth quarter. JDM Financial Group LLC now owns 593 shares of the information services provider’s stock valued at $113,000 after acquiring an additional 57 shares during the last quarter. NCM Capital Management LLC grew its holdings in Alphabet by 2.2% during the 1st quarter. NCM Capital Management LLC now owns 2,802 shares of the information services provider’s stock worth $438,000 after acquiring an additional 60 shares during the period. Faithward Advisors LLC grew its holdings in Alphabet by 2.5% during the 1st quarter. Faithward Advisors LLC now owns 2,505 shares of the information services provider’s stock worth $391,000 after acquiring an additional 61 shares during the period. Objectivity Squared LLC grew its holdings in Alphabet by 0.4% during the 1st quarter. Objectivity Squared LLC now owns 16,342 shares of the information services provider’s stock worth $2,605,000 after acquiring an additional 62 shares during the period. Finally, Tranquility Partners LLC grew its holdings in Alphabet by 0.4% during the 1st quarter. Tranquility Partners LLC now owns 14,488 shares of the information services provider’s stock worth $2,263,000 after acquiring an additional 63 shares during the period. 27.26% of the stock is currently owned by institutional investors.

Alphabet Price Performance

Shares of GOOG opened at $240.78 on Friday. The stock has a market cap of $2.91 trillion, a P/E ratio of 25.64, a P/E/G ratio of 1.61 and a beta of 1.01. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $242.57. The business’s fifty day moving average is $201.45 and its 200 day moving average is $178.39.

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

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be paid a dividend of $0.21 per share. The ex-dividend date is Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is 8.95%.

Insider Buying and Selling

In other Alphabet news, Director John L. Hennessy sold 1,000 shares of the firm’s stock in a transaction on Friday, August 8th. The stock was sold at an average price of $200.00, for a total transaction of $200,000.00. Following the transaction, the director directly owned 6,916 shares in the company, valued at approximately $1,383,200. This trade represents a 12.63% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John Kent Walker sold 23,820 shares of the firm’s stock in a transaction on Monday, August 4th. The shares were sold at an average price of $194.70, for a total value of $4,637,754.00. Following the transaction, the insider owned 42,999 shares in the company, valued at approximately $8,371,905.30. This trade represents a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 254,710 shares of company stock valued at $49,208,380 in the last 90 days. Insiders own 12.99% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on GOOG shares. Barclays reiterated a “buy” rating on shares of Alphabet in a report on Wednesday, July 9th. Scotiabank increased their price target on Alphabet from $200.00 to $240.00 and gave the stock a “sector outperform” rating in a report on Tuesday, July 22nd. KeyCorp set a $265.00 price target on Alphabet in a report on Wednesday, September 3rd. Pivotal Research increased their price target on Alphabet from $245.00 to $300.00 and gave the stock a “buy” rating in a report on Wednesday, September 3rd. Finally, JPMorgan Chase & Co. increased their price target on Alphabet from $232.00 to $260.00 and gave the stock an “overweight” rating in a report on Wednesday, September 3rd. Four investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $227.56.

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.