Long Run Wealth Advisors LLC Sells 705 Shares of Alphabet Inc. $GOOG

Long Run Wealth Advisors LLC cut its position in Alphabet Inc. (NASDAQ:GOOG) by 3.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,102 shares of the information services provider’s stock after selling 705 shares during the quarter. Long Run Wealth Advisors LLC’s holdings in Alphabet were worth $4,098,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Achmea Investment Management B.V. raised its position in Alphabet by 3.9% during the second quarter. Achmea Investment Management B.V. now owns 552,820 shares of the information services provider’s stock worth $98,065,000 after acquiring an additional 20,945 shares in the last quarter. Golden State Wealth Management LLC increased its stake in shares of Alphabet by 2.8% during the 2nd quarter. Golden State Wealth Management LLC now owns 10,448 shares of the information services provider’s stock worth $1,853,000 after purchasing an additional 288 shares during the last quarter. HORAN Wealth LLC bought a new stake in shares of Alphabet in the 2nd quarter valued at about $722,000. Andra AP fonden lifted its stake in Alphabet by 4.4% in the 2nd quarter. Andra AP fonden now owns 251,400 shares of the information services provider’s stock valued at $44,596,000 after purchasing an additional 10,700 shares during the last quarter. Finally, Black Swift Group LLC bought a new position in Alphabet during the second quarter worth about $293,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Trading Down 2.0%

Shares of Alphabet stock opened at $279.70 on Friday. 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 firm has a 50-day moving average of $251.81 and a 200-day moving average of $205.14. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $291.93. The stock has a market cap of $3.38 trillion, a PE ratio of 27.58, a PEG ratio of 1.86 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The business had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. During the same period last year, the firm earned $2.12 earnings per share. Alphabet’s revenue for the quarter was up 15.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 8th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Monday, December 8th. Alphabet’s payout ratio is presently 8.28%.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O’toole sold 954 shares of the firm’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $282.33, for a total transaction of $269,342.82. Following the transaction, the chief accounting officer owned 14,517 shares in the company, valued at $4,098,584.61. This trade represents a 6.17% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John L. Hennessy sold 600 shares of Alphabet stock in a transaction on Monday, October 13th. The shares were sold at an average price of $242.92, for a total value of $145,752.00. Following the completion of the transaction, the director directly owned 5,116 shares of the company’s stock, valued at $1,242,778.72. This represents a 10.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 222,396 shares of company stock valued at $54,105,275 in the last quarter. Company insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

GOOG has been the topic of several research analyst reports. Scotiabank set a $336.00 price objective on Alphabet and gave the company a “sector outperform” rating in a research note on Thursday, October 30th. TD Cowen increased their price target on Alphabet from $270.00 to $280.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Mizuho set a $325.00 price objective on shares of Alphabet in a research report on Thursday, October 30th. KeyCorp reissued an “overweight” rating and issued a $330.00 price objective on shares of Alphabet in a research report on Thursday, October 30th. Finally, Rosenblatt Securities set a $279.00 target price on shares of Alphabet in a report on Thursday, October 30th. Five research analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, four have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $324.81.

Alphabet 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.