Kades & Cheifetz LLC Sells 113 Shares of Alphabet Inc. (NASDAQ:GOOG)

Kades & Cheifetz LLC reduced its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,584 shares of the information services provider’s stock after selling 113 shares during the quarter. Kades & Cheifetz LLC’s holdings in Alphabet were worth $1,101,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of GOOG. Twelve Points Wealth Management LLC grew its holdings in Alphabet by 0.7% in the 2nd quarter. Twelve Points Wealth Management LLC now owns 7,985 shares of the information services provider’s stock valued at $1,465,000 after buying an additional 55 shares in the last quarter. PCG Wealth Advisors LLC raised its stake in Alphabet by 3.1% in the 2nd quarter. PCG Wealth Advisors LLC now owns 1,880 shares of the information services provider’s stock worth $345,000 after purchasing an additional 57 shares in the last quarter. Investment Advisory Services Inc. TX ADV grew its position in shares of Alphabet by 1.6% during the 2nd quarter. Investment Advisory Services Inc. TX ADV now owns 3,636 shares of the information services provider’s stock worth $667,000 after purchasing an additional 57 shares in the last quarter. Advisors Management Group Inc. ADV increased its holdings in shares of Alphabet by 2.0% during the second quarter. Advisors Management Group Inc. ADV now owns 2,944 shares of the information services provider’s stock worth $540,000 after purchasing an additional 58 shares during the period. Finally, Mark Sheptoff Financial Planning LLC raised its position in shares of Alphabet by 11.1% in the first quarter. Mark Sheptoff Financial Planning LLC now owns 600 shares of the information services provider’s stock valued at $91,000 after buying an additional 60 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on GOOG shares. Pivotal Research assumed coverage on Alphabet in a research note on Tuesday. They set a “buy” rating and a $215.00 price objective on the stock. Wolfe Research raised shares of Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. Oppenheimer reduced their price objective on shares of Alphabet from $210.00 to $185.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 25th. Cantor Fitzgerald upgraded shares of Alphabet to a “hold” rating in a research report on Thursday, September 5th. Finally, TD Cowen increased their price target on shares of Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and a consensus target price of $183.75.

Insider Activity

In related news, SVP Prabhakar Raghavan sold 34,257 shares of Alphabet stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the sale, the senior vice president now directly owns 312,210 shares in the company, valued at approximately $50,765,346. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $168.00, for a total transaction of $114,576.00. Following the completion of the transaction, the chief accounting officer now directly owns 31,334 shares in the company, valued at $5,264,112. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Prabhakar Raghavan sold 34,257 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $162.60, for a total value of $5,570,188.20. Following the completion of the sale, the senior vice president now owns 312,210 shares in the company, valued at $50,765,346. The disclosure for this sale can be found here. Insiders sold 217,592 shares of company stock valued at $35,922,911 over the last quarter. 12.99% of the stock is owned by company insiders.

Alphabet Price Performance

Shares of NASDAQ:GOOG opened at $167.31 on Thursday. Alphabet Inc. has a one year low of $121.46 and a one year high of $193.31. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. The company has a market cap of $2.07 trillion, a price-to-earnings ratio of 25.66, a PEG ratio of 1.21 and a beta of 1.04. The firm has a 50 day simple moving average of $163.57 and a 200 day simple moving average of $168.50.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. The company had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $84.22 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. Alphabet’s revenue was up 13.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.44 EPS. Research analysts predict that Alphabet Inc. will post 7.63 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.48%. The ex-dividend date was Monday, September 9th. Alphabet’s dividend payout ratio (DPR) is currently 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.