Drucker Wealth 3.0 LLC Reduces Holdings in Alphabet Inc. $GOOG

Drucker Wealth 3.0 LLC cut its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 8.9% in the 2nd quarter, HoldingsChannel reports. The fund owned 11,865 shares of the information services provider’s stock after selling 1,164 shares during the quarter. Drucker Wealth 3.0 LLC’s holdings in Alphabet were worth $2,108,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. MorganRosel Wealth Management LLC bought a new position in Alphabet during the 1st quarter valued at approximately $26,000. IFS Advisors LLC raised its position in Alphabet by 400.0% during the 2nd quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock valued at $27,000 after purchasing an additional 120 shares during the last quarter. Robbins Farley raised its position in Alphabet by 60.0% during the 2nd quarter. Robbins Farley now owns 160 shares of the information services provider’s stock valued at $28,000 after purchasing an additional 60 shares during the last quarter. WestEnd Advisors LLC raised its position in Alphabet by 58.7% during the 2nd quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock valued at $29,000 after purchasing an additional 61 shares during the last quarter. Finally, Goodman Advisory Group LLC bought a new position in Alphabet during the 1st quarter valued at approximately $32,000. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have commented on GOOG. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Alphabet in a research report on Wednesday, July 9th. Raymond James Financial reissued an “outperform” rating and issued a $210.00 target price (up previously from $185.00) on shares of Alphabet in a research report on Thursday, July 24th. Barclays reissued a “buy” rating on shares of Alphabet in a research report on Wednesday, July 9th. Jefferies Financial Group increased their target price on Alphabet from $230.00 to $285.00 and gave the stock a “buy” rating in a research report on Thursday, October 2nd. Finally, Piper Sandler reissued a “neutral” rating on shares of Alphabet in a research report on Wednesday, July 9th. Six analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $241.00.

Insider Activity at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $196.23, for a total transaction of $6,377,475.00. Following the completion of the transaction, the chief executive officer owned 2,494,892 shares of the company’s stock, valued at $489,572,657.16. This trade represents a 1.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John Kent Walker sold 23,820 shares of the firm’s stock in a transaction that occurred 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 directly owned 42,999 shares of the company’s stock, valued at approximately $8,371,905.30. This trade represents a 35.65% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 276,338 shares of company stock valued at $59,062,683 in the last 90 days. Corporate insiders own 12.99% of the company’s stock.

Alphabet Stock Up 3.0%

GOOG stock opened at $244.64 on Tuesday. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $256.70. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The firm has a market cap of $2.96 trillion, a PE ratio of 26.05, a price-to-earnings-growth ratio of 1.60 and a beta of 1.00. The business has a 50 day moving average of $227.94 and a 200 day moving average of $190.61.

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

Alphabet Dividend Announcement

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

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.