Signaturefd LLC Sells 326 Shares of Alphabet Inc. (NASDAQ:GOOG)

Signaturefd LLC lessened its holdings in Alphabet Inc. (NASDAQ:GOOG) by 0.5% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 61,490 shares of the information services provider’s stock after selling 326 shares during the period. Signaturefd LLC’s holdings in Alphabet were worth $11,278,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GOOG. Partnership Wealth Management LLC acquired a new stake in shares of Alphabet during the 4th quarter worth about $26,000. 1620 Investment Advisors Inc. bought a new stake in Alphabet during the second quarter worth about $37,000. Richardson Financial Services Inc. bought a new stake in Alphabet during the fourth quarter worth about $34,000. Pacific Capital Wealth Advisors Inc. acquired a new stake in shares of Alphabet during the fourth quarter worth approximately $34,000. Finally, Hoese & Co LLP raised its stake in shares of Alphabet by 62.5% in the second quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock valued at $45,000 after acquiring an additional 100 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Alphabet Stock Performance

Alphabet stock opened at $165.11 on Friday. The company’s 50-day moving average is $175.40 and its two-hundred day moving average is $165.01. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 1 year low of $121.46 and a 1 year high of $193.31. The company has a market cap of $2.04 trillion, a PE ratio of 25.32, a PEG ratio of 1.28 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) 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 company had revenue of $84.74 billion during the quarter, compared to analyst estimates of $84.22 billion. During the same period in the previous year, the company earned $1.44 EPS. The company’s revenue for the quarter was up 13.6% compared to the same quarter last year. Equities analysts anticipate that Alphabet Inc. will post 7.62 earnings per share for the current year.

Alphabet Announces Dividend

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

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $173.86, for a total transaction of $118,572.52. Following the transaction, the chief accounting officer now 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 is available at the SEC website. In related news, Director John L. Hennessy sold 1,500 shares of the business’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $177.92, for a total value of $266,880.00. Following the sale, the director now directly owns 3,727 shares of the company’s stock, valued at approximately $663,107.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $173.86, for a total transaction of $118,572.52. Following the completion of the transaction, the chief accounting officer now directly owns 29,966 shares of the company’s stock, valued at $5,209,888.76. The disclosure for this sale can be found here. Insiders sold 179,065 shares of company stock worth $31,025,543 over the last ninety days. 12.99% of the stock is currently owned by corporate 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.