PFG Investments LLC Sells 4,134 Shares of Alphabet Inc. (NASDAQ:GOOG)

PFG Investments LLC reduced its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 5.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 69,346 shares of the information services provider’s stock after selling 4,134 shares during the quarter. Alphabet comprises 0.9% of PFG Investments LLC’s holdings, making the stock its 15th biggest position. PFG Investments LLC’s holdings in Alphabet were worth $12,719,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in GOOG. Richardson Financial Services Inc. bought a new position in shares of Alphabet in the 4th quarter worth $34,000. 1620 Investment Advisors Inc. acquired a new position in Alphabet in the second quarter valued at about $37,000. Slocum Gordon & Co LLP bought a new position in Alphabet during the second quarter worth about $44,000. Hoese & Co LLP grew its position in shares of Alphabet by 62.5% during 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 period. Finally, Iron Horse Wealth Management LLC acquired a new position in shares of Alphabet during the 2nd quarter worth about $48,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Stock Performance

GOOG opened at $152.15 on Thursday. 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 capitalization of $1.87 trillion, a price-to-earnings ratio of 23.34, a P/E/G ratio of 1.13 and a beta of 1.04. The business’s 50-day moving average price is $170.36 and its two-hundred day moving average price is $165.90. Alphabet Inc. has a 1 year low of $121.46 and a 1 year high of $193.31.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $84.22 billion. During the same quarter last year, the firm earned $1.44 EPS. Alphabet’s revenue for the quarter 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 fiscal year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, September 9th will be given a dividend of $0.20 per share. The ex-dividend date is Monday, September 9th. This represents a $0.80 annualized dividend and a yield of 0.53%. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on GOOG shares. Cantor Fitzgerald raised shares of Alphabet to a “hold” rating in a research note on Thursday, September 5th. Rosenblatt Securities cut shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target on the stock. in a research report on Friday, June 28th. Oppenheimer upped their price objective on shares of Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. TD Cowen raised their price objective on Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Finally, Wolfe Research raised Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $182.86.

Insider Activity

In related news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $183.47, for a total transaction of $125,126.54. Following the sale, the chief accounting officer now owns 30,650 shares in the company, valued at $5,623,355.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director John L. Hennessy sold 700 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $165.00, for a total transaction of $115,500.00. Following the transaction, the director now directly owns 29,324 shares in the company, valued at approximately $4,838,460. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total transaction of $125,126.54. Following the completion of the sale, the chief accounting officer now owns 30,650 shares of the company’s stock, valued at $5,623,355.50. The disclosure for this sale can be found here. Insiders sold 201,867 shares of company stock worth $34,218,581 in the last quarter. Corporate insiders own 12.99% of the company’s stock.

Alphabet 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.