Alphabet Inc. $GOOG Shares Sold by Brick & Kyle Associates

Brick & Kyle Associates cut its holdings in Alphabet Inc. (NASDAQ:GOOG) by 54.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,052 shares of the information services provider’s stock after selling 2,449 shares during the quarter. Brick & Kyle Associates’ holdings in Alphabet were worth $361,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GOOG. IFS Advisors LLC raised its holdings in Alphabet by 400.0% in the second quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock valued at $27,000 after buying an additional 120 shares during the period. Robbins Farley increased its position in Alphabet by 60.0% in the second quarter. Robbins Farley now owns 160 shares of the information services provider’s stock worth $28,000 after buying an additional 60 shares during the period. WestEnd Advisors LLC grew its holdings in Alphabet by 58.7% in the 2nd quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock worth $29,000 after buying an additional 61 shares in the last quarter. University of Illinois Foundation bought a new position in shares of Alphabet in the second quarter valued at approximately $31,000. Finally, Fairman Group LLC boosted its stake in shares of Alphabet by 121.3% during the 2nd quarter. Fairman Group LLC now owns 177 shares of the information services provider’s stock worth $31,000 after acquiring an additional 97 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Amie Thuener O’toole sold 954 shares of Alphabet stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $317.00, for a total transaction of $302,418.00. Following the sale, the chief accounting officer directly owned 11,740 shares of the company’s stock, valued at approximately $3,721,580. This trade represents a 7.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Frances Arnold sold 102 shares of the company’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $317.66, for a total transaction of $32,401.32. Following the completion of the transaction, the director owned 18,104 shares of the company’s stock, valued at approximately $5,750,916.64. This trade represents a 0.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 228,906 shares of company stock valued at $62,127,158. 12.99% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on GOOG shares. Loop Capital upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 18th. Cantor Fitzgerald restated a “neutral” rating on shares of Alphabet in a research report on Wednesday, December 3rd. KeyCorp restated an “overweight” rating and issued a $330.00 price target on shares of Alphabet in a research report on Thursday, October 30th. HSBC reaffirmed a “buy” rating and issued a $335.00 target price on shares of Alphabet in a research note on Thursday, October 30th. Finally, Bank of America lifted their price objective on Alphabet from $280.00 to $335.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Seven investment analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Alphabet currently has a consensus rating of “Buy” and an average price target of $313.04.

Alphabet Stock Performance

GOOG opened at $310.52 on Friday. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $328.67. The stock has a market cap of $3.75 trillion, a price-to-earnings ratio of 30.62, a PEG ratio of 1.80 and a beta of 1.07. The business has a 50 day moving average of $283.75 and a 200-day moving average of $230.33. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 0.06.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Thursday, October 30th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.29 by $0.58. Alphabet had a return on equity of 35.00% and a net margin of 32.23%.The business had revenue of $102.35 billion during the quarter, compared to the consensus estimate of $99.90 billion. During the same period in the previous year, the company posted $2.12 EPS. The firm’s quarterly revenue was up 15.9% on a year-over-year basis. On average, equities research analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 8th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.3%. The ex-dividend date is Monday, December 8th. Alphabet’s payout ratio is currently 8.28%.

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.