Alphabet Inc. (NASDAQ:GOOG) Stock Position Reduced by Western Financial Corp CA

Western Financial Corp CA decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 7.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,762 shares of the information services provider’s stock after selling 136 shares during the period. Western Financial Corp CA’s holdings in Alphabet were worth $323,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of GOOG. Partnership Wealth Management LLC bought a new stake in Alphabet during the 4th quarter valued at $26,000. DiNuzzo Private Wealth Inc. acquired a new stake in shares of Alphabet during the fourth quarter valued at approximately $32,000. Pacific Capital Wealth Advisors Inc. purchased a new stake in shares of Alphabet in the fourth quarter valued at $34,000. Richardson Financial Services Inc. purchased a new stake in Alphabet in the 4th quarter worth about $34,000. Finally, Hoese & Co LLP boosted its holdings in shares of Alphabet by 62.5% during the second quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock worth $45,000 after purchasing an additional 100 shares during the period. 27.26% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Alphabet

In other news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $173.86, for a total transaction of $118,572.52. Following the transaction, the chief accounting officer now directly owns 29,966 shares in the company, valued at approximately $5,209,888.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $162.35, for a total transaction 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 approximately $354,310,204.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $173.86, for a total transaction of $118,572.52. Following the completion of the sale, the chief accounting officer now directly owns 29,966 shares of the company’s stock, valued at approximately $5,209,888.76. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 156,565 shares of company stock valued at $27,253,193. Insiders own 12.99% of the company’s stock.

Analysts Set New Price Targets

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

Alphabet Price Performance

Alphabet stock opened at $168.40 on Tuesday. The business’s 50-day simple moving average is $177.21 and its 200 day simple moving average is $164.14. The stock has a market cap of $2.08 trillion, a price-to-earnings ratio of 25.83, a P/E/G ratio of 1.28 and a beta of 1.05. Alphabet Inc. has a 12-month low of $121.46 and a 12-month high of $193.31. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04.

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

Alphabet Dividend Announcement

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

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.