Weybosset Research & Management LLC Sells 100 Shares of Alphabet Inc. (NASDAQ:GOOG)

Weybosset Research & Management LLC lowered its holdings in Alphabet Inc. (NASDAQ:GOOG) by 6.4% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 1,460 shares of the information services provider’s stock after selling 100 shares during the quarter. Weybosset Research & Management LLC’s holdings in Alphabet were worth $244,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Richardson Financial Services Inc. purchased a new stake in Alphabet in the fourth quarter worth about $34,000. Abich Financial Wealth Management LLC lifted its stake in shares of Alphabet by 9,200.0% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock valued at $34,000 after purchasing an additional 184 shares during the period. 1620 Investment Advisors Inc. bought a new stake in shares of Alphabet during the second quarter valued at approximately $37,000. HWG Holdings LP purchased a new stake in Alphabet in the second quarter worth $40,000. Finally, Slocum Gordon & Co LLP bought a new position in Alphabet in the second quarter worth $44,000. 27.26% of the stock is currently owned by institutional investors.

Insider Activity at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were 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 directly owns 31,334 shares in the company, valued at approximately $5,264,112. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were 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 of the company’s stock, valued at approximately $5,264,112. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Prabhakar Raghavan sold 34,257 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the completion of the transaction, the senior vice president now owns 312,210 shares in the company, valued at approximately $50,765,346. The disclosure for this sale can be found here. Insiders have sold a total of 217,592 shares of company stock worth $35,922,911 over the last quarter. Company insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

Shares of GOOG opened at $167.31 on Thursday. The company has a market cap of $2.07 trillion, a price-to-earnings ratio of 25.66, a P/E/G ratio of 1.21 and a beta of 1.04. The business’s fifty day simple moving average is $163.57 and its two-hundred day simple moving average is $168.50. Alphabet Inc. has a 12 month low of $121.46 and a 12 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.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data 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. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The company had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $84.22 billion. During the same period last year, the firm posted $1.44 earnings per share. Alphabet’s revenue was up 13.6% compared to the same quarter last year. Research analysts anticipate that Alphabet Inc. will post 7.63 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were issued a dividend of $0.20 per share. 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%.

Analysts Set New Price Targets

A number of brokerages have recently commented on GOOG. DA Davidson upgraded shares of Alphabet to a “hold” rating in a report on Tuesday, September 10th. Wolfe Research raised shares of Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. Oppenheimer decreased their target price on shares of Alphabet from $210.00 to $185.00 and set an “outperform” rating for the company in a research note on Wednesday, September 25th. Cantor Fitzgerald raised Alphabet to a “hold” rating in a research report on Thursday, September 5th. Finally, Pivotal Research began coverage on Alphabet in a research note on Tuesday. They issued a “buy” rating and a $215.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $183.75.

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.