Farley Capital L.P. Sells 1,116 Shares of Alphabet Inc. $GOOG

by · The Cerbat Gem

Farley Capital L.P. trimmed its holdings in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 0.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 143,411 shares of the information services provider’s stock after selling 1,116 shares during the period. Alphabet accounts for approximately 20.7% of Farley Capital L.P.’s holdings, making the stock its 2nd largest holding. Farley Capital L.P.’s holdings in Alphabet were worth $22,405,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Principia Wealth Advisory LLC increased its holdings in Alphabet by 111.8% during the 1st quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider’s stock worth $26,000 after purchasing an additional 85 shares during the last quarter. MorganRosel Wealth Management LLC acquired a new position in shares of Alphabet in the 1st quarter worth approximately $26,000. Goodman Advisory Group LLC acquired a new position in Alphabet during the 1st quarter valued at approximately $32,000. Greykasell Wealth Strategies Inc. acquired a new position in Alphabet during the 1st quarter valued at approximately $32,000. Finally, Graybill Wealth Management LTD. acquired a new position in Alphabet during the 1st quarter valued at approximately $44,000. 27.26% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Alphabet news, Director Kavitark Ram Shriram sold 18,566 shares of Alphabet stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the transaction, the director directly owned 243,400 shares in the company, valued at approximately $45,213,984. The trade was a 7.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider John Kent Walker sold 23,820 shares of the business’s stock in a transaction dated 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 completion of the sale, the insider owned 42,999 shares in the company, valued at approximately $8,371,905.30. This trade represents a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 274,819 shares of company stock worth $49,796,547. Corporate insiders own 12.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on GOOG. Raymond James Financial restated an “outperform” rating and set a $210.00 price objective (up previously from $185.00) on shares of Alphabet in a research report on Thursday, July 24th. Piper Sandler reissued a “neutral” rating on shares of Alphabet in a research note on Wednesday, July 9th. Wells Fargo & Company reissued an “equal weight” rating on shares of Alphabet in a research note on Wednesday, July 9th. Rosenblatt Securities raised Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 25th. Finally, Barclays reaffirmed a “buy” rating on shares of Alphabet in a research report on Wednesday, July 9th. Three analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have issued a buy rating and five have assigned a strong buy rating to the company. According to MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and a consensus target price of $215.19.

View Our Latest Stock Report on GOOG

Alphabet Stock Down 0.3%

Shares of Alphabet stock opened at $204.29 on Tuesday. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $208.70. The business has a fifty day simple moving average of $185.74 and a 200 day simple moving average of $174.51. The stock has a market cap of $2.47 trillion, a PE ratio of 21.76, a price-to-earnings-growth ratio of 1.38 and a beta of 1.02.

Alphabet (NASDAQ:GOOG – Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping 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 business had revenue of $96.43 billion during the quarter, compared to analysts’ expectations of $93.67 billion. During the same period in the previous year, the firm earned $1.89 earnings per share. The firm’s quarterly revenue was up 13.8% compared to the same quarter last year. Research analysts predict that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be issued a dividend of $0.21 per share. The ex-dividend date is Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.4%. Alphabet’s payout ratio is currently 8.95%.

Alphabet Profile

(Free Report)

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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