Souders Financial Advisors Sells 2,384 Shares of Alphabet Inc. (NASDAQ:GOOG)

Souders Financial Advisors lowered its stake in Alphabet Inc. (NASDAQ:GOOG) by 6.4% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,718 shares of the information services provider’s stock after selling 2,384 shares during the quarter. Souders Financial Advisors’ holdings in Alphabet were worth $5,286,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of GOOG. Norges Bank bought a new stake in shares of Alphabet during the fourth quarter valued at approximately $4,101,040,000. International Assets Investment Management LLC bought a new stake in Alphabet during the 4th quarter valued at $11,600,970,000. Cerity Partners LLC raised its holdings in Alphabet by 198.7% during the fourth quarter. Cerity Partners LLC now owns 3,882,882 shares of the information services provider’s stock worth $547,215,000 after buying an additional 2,583,128 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in Alphabet by 93.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 4,591,383 shares of the information services provider’s stock valued at $647,064,000 after purchasing an additional 2,222,950 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in shares of Alphabet by 50.2% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,918,113 shares of the information services provider’s stock valued at $596,572,000 after purchasing an additional 1,308,691 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Insider Buying and Selling

In other news, Director John L. Hennessy sold 1,500 shares of the business’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $185.85, for a total transaction of $278,775.00. Following the completion of the transaction, the director now directly owns 30,824 shares in the company, valued at approximately $5,728,640.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Alphabet news, Director John L. Hennessy sold 1,500 shares of Alphabet stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $185.85, for a total transaction of $278,775.00. Following the completion of the sale, the director now directly owns 30,824 shares in the company, valued at $5,728,640.40. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Prabhakar Raghavan sold 3,262 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $183.99, for a total transaction of $600,175.38. Following the completion of the transaction, the senior vice president now directly owns 9 shares in the company, valued at approximately $1,655.91. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 124,488 shares of company stock valued at $21,954,455. Company insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

Alphabet stock traded down $3.40 during mid-day trading on Thursday, reaching $179.22. The company’s stock had a trading volume of 17,654,375 shares, compared to its average volume of 20,541,760. The firm’s fifty day moving average price is $180.04 and its two-hundred day moving average price is $160.11. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15. Alphabet Inc. has a 12-month low of $118.68 and a 12-month high of $193.31. The company has a market capitalization of $2.21 trillion, a P/E ratio of 27.41, a PEG ratio of 1.39 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.51 by $0.38. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The company had revenue of $80.54 billion during the quarter, compared to analysts’ expectations of $78.75 billion. During the same period in the previous year, the business earned $1.17 earnings per share. The firm’s quarterly revenue was up 15.4% compared to the same quarter last year. Sell-side analysts predict that Alphabet Inc. will post 7.61 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently declared a — dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 10th were issued a $0.20 dividend. The ex-dividend date was Monday, June 10th. Alphabet’s payout ratio is 12.27%.

Analyst Ratings Changes

Several research firms recently weighed in on GOOG. Stifel Nicolaus increased their price target on shares of Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Rosenblatt Securities downgraded shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price for the company. in a research report on Friday, June 28th. Wolfe Research raised shares of Alphabet to a “strong-buy” rating in a report on Tuesday. Morgan Stanley reissued an “overweight” rating and set a $165.00 price objective on shares of Alphabet in a report on Thursday, April 11th. Finally, TD Cowen raised their target price on Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Alphabet presently has a consensus rating of “Buy” and a consensus target price of $174.38.

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.