ICA Group Wealth Management LLC Cuts Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

ICA Group Wealth Management LLC lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 85.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,018 shares of the information services provider’s stock after selling 6,180 shares during the quarter. ICA Group Wealth Management LLC’s holdings in Alphabet were worth $187,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. 1620 Investment Advisors Inc. bought a new position in shares of Alphabet during the second quarter valued at about $37,000. Richardson Financial Services Inc. bought a new position in shares of Alphabet during the 4th quarter worth approximately $34,000. Slocum Gordon & Co LLP bought a new position in shares of Alphabet during the 2nd quarter worth approximately $44,000. Hoese & Co LLP boosted its stake in shares of Alphabet by 62.5% in the 2nd quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock worth $45,000 after buying an additional 100 shares during the last quarter. Finally, Iron Horse Wealth Management LLC bought a new position in shares of Alphabet in the second quarter valued at approximately $48,000. 27.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. DA Davidson upgraded Alphabet to a “hold” rating in a report on Tuesday, September 10th. Oppenheimer lifted their target price on Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Cantor Fitzgerald upgraded shares of Alphabet to a “hold” rating in a research report on Thursday, September 5th. Rosenblatt Securities lowered shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective on the stock. in a research report on Friday, June 28th. Finally, Wolfe Research raised shares of Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $182.86.

Alphabet Price Performance

GOOG opened at $158.99 on Tuesday. Alphabet Inc. has a twelve month low of $121.46 and a twelve month high of $193.31. The company has a market capitalization of $1.96 trillion, a price-to-earnings ratio of 24.39, a PEG ratio of 1.13 and a beta of 1.04. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. The firm has a 50-day moving average price of $168.43 and a 200-day moving average price of $166.48.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 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 business had revenue of $84.74 billion during the quarter, compared to the consensus estimate of $84.22 billion. During the same quarter last year, the company earned $1.44 EPS. The firm’s revenue was up 13.6% compared to the same quarter last year. Equities analysts expect that Alphabet Inc. will post 7.63 EPS for the current year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date was Monday, September 9th. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

Insiders Place Their Bets

In other news, Director John L. Hennessy sold 800 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $153.75, for a total transaction of $123,000.00. Following the completion of the transaction, the director now directly owns 28,524 shares in the company, valued at approximately $4,385,565. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $177.40, for a total transaction of $3,991,500.00. Following the completion of the sale, the chief executive officer now owns 2,213,011 shares of the company’s stock, valued at $392,588,151.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John L. Hennessy sold 800 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $153.75, for a total value of $123,000.00. Following the completion of the transaction, the director now owns 28,524 shares of the company’s stock, valued at $4,385,565. The disclosure for this sale can be found here. Insiders have sold 202,667 shares of company stock worth $34,341,581 in the last three months. 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.