Duff & Phelps Investment Management Co. Sells 34,041 Shares of Alphabet Inc. (NASDAQ:GOOG)

Duff & Phelps Investment Management Co. trimmed its position in Alphabet Inc. (NASDAQ:GOOG) by 75.0% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 11,320 shares of the information services provider’s stock after selling 34,041 shares during the period. Duff & Phelps Investment Management Co.’s holdings in Alphabet were worth $2,076,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Twelve Points Wealth Management LLC grew its position in Alphabet by 0.7% during the second 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 during the period. PCG Wealth Advisors LLC grew its position in shares of Alphabet by 3.1% during the 2nd quarter. PCG Wealth Advisors LLC now owns 1,880 shares of the information services provider’s stock valued at $345,000 after acquiring an additional 57 shares during the period. Investment Advisory Services Inc. TX ADV increased its stake in shares of Alphabet by 1.6% in 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 lifted its position in 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 valued at $540,000 after purchasing an additional 58 shares in the last quarter. Finally, Mark Sheptoff Financial Planning LLC lifted its position in Alphabet by 11.1% during the first quarter. Mark Sheptoff Financial Planning LLC now owns 600 shares of the information services provider’s stock valued at $91,000 after purchasing an additional 60 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $183.47, for a total value of $125,126.54. Following the transaction, the chief accounting officer now owns 30,650 shares of the company’s stock, valued at approximately $5,623,355.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total value of $125,126.54. Following the completion of the sale, the chief accounting officer now directly owns 30,650 shares of the company’s stock, valued at approximately $5,623,355.50. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $186.74, for a total transaction of $4,201,650.00. Following the transaction, the chief executive officer now directly owns 2,227,385 shares in the company, valued at $415,941,874.90. The disclosure for this sale can be found here. In the last three months, insiders sold 203,367 shares of company stock valued at $34,079,756. Insiders own 12.99% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on GOOG. Oppenheimer decreased their price objective on Alphabet from $210.00 to $185.00 and set an “outperform” rating on the stock in a research note on Wednesday. TD Cowen raised their target price on shares of Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Wolfe Research upgraded shares of Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. Cantor Fitzgerald upgraded shares of Alphabet to a “hold” rating in a research report on Thursday, September 5th. Finally, Rosenblatt Securities downgraded 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. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $179.29.

Alphabet Stock Up 0.9 %

Shares of GOOG opened at $165.29 on Friday. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 52-week low of $121.46 and a 52-week high of $193.31. The company has a market cap of $2.04 trillion, a PE ratio of 25.35, a P/E/G ratio of 1.21 and a beta of 1.04. The business has a fifty day moving average of $164.34 and a 200 day moving average of $167.97.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.85 by $0.04. The company had revenue of $84.74 billion for the quarter, compared to the consensus estimate of $84.22 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The firm’s revenue was up 13.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.44 EPS. On average, sell-side analysts expect that Alphabet Inc. will post 7.63 EPS for the current year.

Alphabet Announces Dividend

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