Alphabet Inc. (NASDAQ:GOOG) Shares Sold by MJP Associates Inc. ADV

MJP Associates Inc. ADV lessened its holdings in Alphabet Inc. (NASDAQ:GOOG) by 1.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,568 shares of the information services provider’s stock after selling 173 shares during the period. MJP Associates Inc. ADV’s holdings in Alphabet were worth $1,755,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Twelve Points Wealth Management LLC raised its stake in shares of Alphabet by 0.7% in the 2nd quarter. Twelve Points Wealth Management LLC now owns 7,985 shares of the information services provider’s stock valued at $1,465,000 after acquiring an additional 55 shares during the period. Mark Sheptoff Financial Planning LLC increased its holdings in Alphabet by 11.1% in the 1st quarter. Mark Sheptoff Financial Planning LLC now owns 600 shares of the information services provider’s stock valued at $91,000 after purchasing an additional 60 shares during the last quarter. Shira Ridge Wealth Management raised its position in Alphabet by 0.4% in the second quarter. Shira Ridge Wealth Management now owns 15,490 shares of the information services provider’s stock valued at $2,841,000 after purchasing an additional 60 shares during the period. Strait & Sound Wealth Management LLC lifted its stake in Alphabet by 2.2% during the first quarter. Strait & Sound Wealth Management LLC now owns 2,898 shares of the information services provider’s stock worth $466,000 after purchasing an additional 61 shares in the last quarter. Finally, Woodward Diversified Capital LLC boosted its position in shares of Alphabet by 0.7% during the first quarter. Woodward Diversified Capital LLC now owns 8,609 shares of the information services provider’s stock worth $1,311,000 after buying an additional 62 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Stock Up 0.9 %

Shares of NASDAQ:GOOG traded up $1.55 during trading hours on Friday, reaching $165.39. The stock had a trading volume of 13,549,230 shares, compared to its average volume of 20,609,316. Alphabet Inc. has a 1 year low of $121.46 and a 1 year high of $193.31. The firm’s 50 day moving average is $178.60 and its 200-day moving average is $163.51. The stock has a market capitalization of $2.04 trillion, a price-to-earnings ratio of 25.37, a P/E/G ratio of 1.28 and a beta of 1.05. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.85 by $0.04. The firm had revenue of $84.74 billion for the quarter, compared to analyst estimates of $84.22 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. Alphabet’s revenue for the quarter was up 13.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.44 earnings per share. Research analysts predict that Alphabet Inc. will post 7.62 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 9th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date of this dividend is Monday, September 9th. Alphabet’s dividend payout ratio (DPR) is 12.27%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on GOOG. TD Cowen boosted their price objective on Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Wolfe Research raised shares of Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. Rosenblatt Securities cut shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective for the company. in a report on Friday, June 28th. Oppenheimer increased their target price on shares of Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Finally, Stifel Nicolaus boosted their price target on shares of Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $182.86.

Insider Buying and Selling at Alphabet

In other news, Director John L. Hennessy sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $168.08, for a total transaction of $252,120.00. Following the completion of the sale, the director now owns 4,391 shares in the company, valued at approximately $738,039.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director John L. Hennessy sold 1,500 shares of Alphabet stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $168.08, for a total transaction of $252,120.00. Following the sale, the director now owns 4,391 shares in the company, valued at $738,039.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $162.35, for a total value of $3,652,875.00. Following the completion of the sale, the chief executive officer now directly owns 2,182,385 shares of the company’s stock, valued at $354,310,204.75. The disclosure for this sale can be found here. Insiders have sold 144,808 shares of company stock worth $25,586,650 over 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.