Joseph Group Capital Management Sells 1,899 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Joseph Group Capital Management lowered its stake in Alphabet Inc. (NASDAQ:GOOGL) by 9.5% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,130 shares of the information services provider’s stock after selling 1,899 shares during the quarter. Alphabet comprises 1.7% of Joseph Group Capital Management’s portfolio, making the stock its 15th biggest holding. Joseph Group Capital Management’s holdings in Alphabet were worth $3,302,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in GOOGL. Christopher J. Hasenberg Inc lifted its holdings in Alphabet by 75.0% during the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 60 shares in the last quarter. Vermillion & White Wealth Management Group LLC purchased a new position in shares of Alphabet during the 4th quarter valued at $30,000. Tributary Capital Management LLC purchased a new position in shares of Alphabet during the 1st quarter valued at $30,000. Kings Path Partners LLC bought a new position in Alphabet in the 2nd quarter worth $36,000. Finally, Denver PWM LLC purchased a new stake in Alphabet in the 2nd quarter worth $41,000. 40.03% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction on 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 sale, the chief accounting officer now owns 31,334 shares in the company, valued at $5,264,112. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $168.00, for a total value 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 accessible through the SEC website. Also, Director John L. Hennessy sold 1,500 shares of the firm’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $185.85, for a total transaction of $278,775.00. Following the completion of the sale, the director now owns 30,824 shares in the company, valued at $5,728,640.40. The disclosure for this sale can be found here. Insiders have sold a total of 217,592 shares of company stock valued at $35,922,911 over the last ninety days. 11.55% of the stock is owned by company insiders.

Alphabet Stock Performance

Shares of NASDAQ GOOGL opened at $165.86 on Friday. Alphabet Inc. has a twelve month low of $120.21 and a twelve month high of $191.75. 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 business has a fifty day simple moving average of $162.06 and a two-hundred day simple moving average of $167.00. The firm has a market cap of $2.05 trillion, a PE ratio of 25.44, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The company had revenue of $84.74 billion during the quarter, compared to analyst estimates of $70.60 billion. During the same period in the prior year, the firm earned $1.44 earnings per share. Analysts expect that Alphabet Inc. will post 7.63 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were paid a dividend of $0.20 per share. The ex-dividend date was Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.48%. Alphabet’s dividend payout ratio is presently 12.27%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on GOOGL shares. Roth Mkm reaffirmed a “buy” rating and issued a $206.00 price objective on shares of Alphabet in a research note on Thursday, August 29th. Loop Capital reaffirmed a “hold” rating and set a $170.00 price objective on shares of Alphabet in a report on Wednesday, July 3rd. Argus lifted their price objective on shares of Alphabet from $200.00 to $215.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Wells Fargo & Company cut their target price on shares of Alphabet from $190.00 to $182.00 and set an “equal weight” rating for the company in a research note on Wednesday. Finally, Pivotal Research raised shares of Alphabet to a “strong-buy” rating in a report on Tuesday. Eight investment analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $201.14.

About Alphabet

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.