Birchcreek Wealth Management LLC Sells 840 Shares of Alphabet Inc. (NASDAQ:GOOG)

Birchcreek Wealth Management LLC reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 21.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,145 shares of the information services provider’s stock after selling 840 shares during the quarter. Birchcreek Wealth Management LLC’s holdings in Alphabet were worth $577,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Gilbert & Cook Inc. grew its stake in shares of Alphabet by 15.5% in the 4th quarter. Gilbert & Cook Inc. now owns 29,159 shares of the information services provider’s stock worth $4,109,000 after buying an additional 3,924 shares in the last quarter. Concentrum Wealth Management raised its position in Alphabet by 25.0% during the fourth quarter. Concentrum Wealth Management now owns 16,440 shares of the information services provider’s stock valued at $2,317,000 after purchasing an additional 3,283 shares during the period. Aveo Capital Partners LLC lifted its stake in shares of Alphabet by 2.4% in the 4th quarter. Aveo Capital Partners LLC now owns 6,647 shares of the information services provider’s stock valued at $937,000 after purchasing an additional 154 shares during the last quarter. Lebenthal Global Advisors LLC boosted its holdings in shares of Alphabet by 6.7% in the 4th quarter. Lebenthal Global Advisors LLC now owns 1,665 shares of the information services provider’s stock worth $235,000 after purchasing an additional 105 shares during the period. Finally, Marest Capital LLC bought a new position in shares of Alphabet during the 4th quarter valued at approximately $2,852,000. Institutional investors own 27.26% of the company’s stock.

Analyst Ratings Changes

GOOG has been the topic of several recent analyst reports. Rosenblatt Securities downgraded shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price on the stock. in a research note on Friday, June 28th. Oppenheimer increased their price target on Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. TD Cowen boosted their price objective on Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Cantor Fitzgerald raised Alphabet to a “hold” rating in a research report on Thursday. Finally, Wolfe Research upgraded Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and a consensus target price of $182.86.

Insiders Place Their Bets

In related news, insider John Kent Walker sold 21,467 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $160.35, for a total transaction of $3,442,233.45. Following the completion of the sale, the insider now directly owns 39,334 shares in the company, valued at approximately $6,307,206.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, SVP Prabhakar Raghavan sold 3,262 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $183.99, for a total transaction of $600,175.38. Following the transaction, the senior vice president now owns 9 shares in the company, valued at $1,655.91. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider John Kent Walker sold 21,467 shares of Alphabet stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $160.35, for a total transaction of $3,442,233.45. Following the completion of the sale, the insider now owns 39,334 shares of the company’s stock, valued at $6,307,206.90. The disclosure for this sale can be found here. Insiders sold a total of 200,532 shares of company stock worth $34,055,874 over the last 90 days. Company insiders own 12.99% of the company’s stock.

Alphabet Price Performance

Shares of GOOG stock opened at $152.13 on Friday. Alphabet Inc. has a twelve month low of $121.46 and a twelve month high of $193.31. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. The stock has a fifty day simple moving average of $172.50 and a two-hundred day simple moving average of $165.62. The stock has a market capitalization of $1.88 trillion, a price-to-earnings ratio of 23.33, a P/E/G ratio of 1.22 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) 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. The company had revenue of $84.74 billion during the quarter, compared to analyst estimates of $84.22 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The firm’s revenue for the quarter was up 13.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.44 earnings per share. On average, analysts predict that Alphabet Inc. will post 7.63 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 9th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date of this dividend is Monday, September 9th. Alphabet’s dividend payout ratio (DPR) is 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.