Krilogy Financial LLC Sells 5,301 Shares of Alphabet Inc. $GOOG
by Teresa Graham · The Cerbat GemKrilogy Financial LLC lowered its holdings in shares of Alphabet Inc. (NASDAQ:GOOG – Free Report) by 11.3% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 41,803 shares of the information services provider’s stock after selling 5,301 shares during the period. Krilogy Financial LLC’s holdings in Alphabet were worth $7,415,000 as of its most recent filing with the SEC.
Several other large investors have also bought and sold shares of GOOG. Vanguard Group Inc. grew its stake in shares of Alphabet by 2.4% during the first quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider’s stock worth $64,299,725,000 after buying an additional 9,687,855 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Alphabet by 9.9% during the 1st quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider’s stock valued at $15,971,861,000 after acquiring an additional 9,243,959 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Alphabet by 2.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 34,103,417 shares of the information services provider’s stock valued at $6,494,655,000 after acquiring an additional 769,335 shares in the last quarter. Deutsche Bank AG grew its position in Alphabet by 5.4% during the 1st quarter. Deutsche Bank AG now owns 21,345,784 shares of the information services provider’s stock worth $3,334,852,000 after acquiring an additional 1,098,996 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in Alphabet by 2.2% in the 1st quarter. Invesco Ltd. now owns 20,380,073 shares of the information services provider’s stock worth $3,183,979,000 after purchasing an additional 440,526 shares in the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
GOOG has been the topic of a number of recent research reports. Pivotal Research lifted their price target on Alphabet from $245.00 to $300.00 and gave the company a “buy” rating in a research note on Wednesday, September 3rd. Phillip Securities downgraded shares of Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research report on Monday, September 8th. Piper Sandler reissued a “neutral” rating on shares of Alphabet in a report on Wednesday, July 9th. JPMorgan Chase & Co. upped their price target on shares of Alphabet from $232.00 to $260.00 and gave the company an “overweight” rating in a research report on Wednesday, September 3rd. Finally, Oppenheimer reiterated an “outperform” rating and set a $270.00 price target (up previously from $235.00) on shares of Alphabet in a report on Wednesday, September 3rd. Four investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, five have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $227.56.
Check Out Our Latest Report on GOOG
Alphabet Price Performance
GOOG stock opened at $251.42 on Wednesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The company’s 50-day moving average is $205.68 and its 200-day moving average is $179.98. The stock has a market capitalization of $3.04 trillion, a PE ratio of 26.78, a price-to-earnings-growth ratio of 1.69 and a beta of 1.01. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $253.23.
Alphabet (NASDAQ:GOOG – Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates of $2.12 by $0.19. The business had revenue of $96.43 billion for 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 firm’s revenue for the quarter was up 13.8% on a year-over-year basis. During the same period in the prior year, the business earned $1.89 EPS. Equities research analysts expect that Alphabet Inc. will post 8.89 EPS for the current fiscal year.
Alphabet Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were issued a dividend of $0.21 per share. The ex-dividend date was Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.3%. Alphabet’s dividend payout ratio is presently 8.95%.
Insider Activity
In other Alphabet news, CAO Amie Thuener O’toole sold 2,778 shares of the business’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $245.00, for a total transaction of $680,610.00. Following the completion of the sale, the chief accounting officer directly owned 17,293 shares of the company’s stock, valued at approximately $4,236,785. The trade was a 13.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kavitark Ram Shriram sold 18,566 shares of the stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $3,448,820.16. Following the completion of the sale, the director directly owned 243,400 shares of the company’s stock, valued at approximately $45,213,984. This trade represents a 7.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 225,588 shares of company stock valued at $44,296,554. 12.99% of the stock is currently owned by insiders.
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.
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