Alphabet Inc. $GOOG Shares Sold by United Services Automobile Association
by Kim Johansen · The Markets DailyUnited Services Automobile Association trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOG – Free Report) by 0.3% in the first quarter, HoldingsChannel reports. The institutional investor owned 114,318 shares of the information services provider’s stock after selling 305 shares during the period. United Services Automobile Association’s holdings in Alphabet were worth $17,840,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in GOOG. Principia Wealth Advisory LLC raised its holdings in shares of Alphabet by 111.8% in 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 period. MorganRosel Wealth Management LLC acquired a new stake in Alphabet during the 1st quarter worth approximately $26,000. Goodman Advisory Group LLC purchased a new position in Alphabet in the first quarter valued at approximately $32,000. Greykasell Wealth Strategies Inc. acquired a new position in Alphabet during the first quarter valued at approximately $32,000. Finally, Elevate Wealth Advisory Inc. purchased a new stake in Alphabet during the first quarter worth approximately $34,000. 27.26% of the stock is owned by hedge funds and other institutional investors.
Alphabet Stock Up 1.1%
Shares of Alphabet stock opened at $235.17 on Monday. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $236.13. The company has a market capitalization of $2.84 trillion, a PE ratio of 25.04, a P/E/G ratio of 1.58 and a beta of 1.01. 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 business has a 50-day moving average of $196.65 and a 200-day moving average of $176.75.
Alphabet (NASDAQ:GOOG – Get Free Report) last released 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 during the quarter, compared to the consensus estimate of $93.67 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The business’s quarterly revenue was up 13.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.89 earnings per share. As a group, equities analysts forecast that Alphabet Inc. will post 8.89 EPS for the current fiscal year.
Alphabet Dividend Announcement
The company 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. This represents a $0.84 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet’s dividend payout ratio (DPR) is currently 8.95%.
Insider Transactions at Alphabet
In other Alphabet news, Director John L. Hennessy sold 1,000 shares of the business’s stock in a transaction on Friday, August 8th. The shares were sold at an average price of $200.00, for a total transaction of $200,000.00. Following the completion of the sale, the director owned 6,916 shares in the company, valued at $1,383,200. The trade was a 12.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kavitark Ram Shriram sold 18,566 shares of the stock in a transaction on 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 sale, the director directly owned 243,400 shares in the company, valued at $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. Insiders have sold a total of 254,710 shares of company stock worth $49,208,380 in the last quarter. Insiders own 12.99% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently commented on the stock. Wells Fargo & Company reissued an “equal weight” rating on shares of Alphabet in a research note on Wednesday, July 9th. KeyCorp set a $265.00 price target on Alphabet in a report on Wednesday, September 3rd. Lake Street Capital restated a “buy” rating on shares of Alphabet in a research note on Wednesday, July 9th. Roth Capital reaffirmed a “buy” rating on shares of Alphabet in a research report on Wednesday, July 9th. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $210.00 target price (up previously from $185.00) on shares of Alphabet in a research note on Thursday, July 24th. Five investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $227.56.
Read Our Latest Analysis on GOOG
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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