Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Sowell Financial Services LLC

Sowell Financial Services LLC lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 7.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 81,293 shares of the information services provider’s stock after selling 6,611 shares during the quarter. Alphabet comprises about 0.6% of Sowell Financial Services LLC’s investment portfolio, making the stock its 27th biggest position. Sowell Financial Services LLC’s holdings in Alphabet were worth $13,591,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the stock. Abich Financial Wealth Management LLC raised its position 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 worth $34,000 after buying an additional 184 shares during the period. 1620 Investment Advisors Inc. acquired a new position in Alphabet in the second quarter valued at approximately $37,000. HWG Holdings LP bought a new stake in shares of Alphabet during the second quarter valued at approximately $40,000. Richardson Financial Services Inc. bought a new stake in Alphabet during the fourth quarter worth approximately $34,000. Finally, Slocum Gordon & Co LLP acquired a new position in Alphabet in the second quarter worth approximately $44,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Analyst Ratings Changes

GOOG has been the topic of several research analyst reports. Pivotal Research assumed coverage on shares of Alphabet in a research report on Tuesday. They set a “buy” rating and a $215.00 price objective on the stock. Oppenheimer lowered their price target on shares of Alphabet from $210.00 to $185.00 and set an “outperform” rating on the stock in a report on Wednesday, September 25th. 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 report on Friday, June 28th. DA Davidson upgraded shares of Alphabet to a “hold” rating in a report on Tuesday, September 10th. Finally, Wolfe Research upgraded shares of Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. Three research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $183.75.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $168.00, for a total value of $114,576.00. Following the transaction, the chief accounting officer now directly owns 31,334 shares in the company, valued at $5,264,112. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $182.84, for a total transaction of $4,113,900.00. Following the completion of the transaction, the chief executive officer now directly owns 2,204,885 shares in the company, valued at $403,141,173.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 31,334 shares of the company’s stock, valued at approximately $5,264,112. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 217,592 shares of company stock worth $35,922,911 over the last ninety days. Company insiders own 12.99% of the company’s stock.

Alphabet Price Performance

Alphabet stock traded up $0.53 during trading hours on Friday, hitting $167.74. 7,383,881 shares of the stock were exchanged, compared to its average volume of 19,927,023. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. The stock has a market capitalization of $2.07 trillion, a P/E ratio of 25.74, a P/E/G ratio of 1.21 and a beta of 1.04. Alphabet Inc. has a 12 month low of $121.46 and a 12 month high of $193.31. The business’s 50-day moving average is $163.53 and its two-hundred day moving average is $168.49.

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, topping analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The company had revenue of $84.74 billion for the quarter, compared to analyst estimates of $84.22 billion. During the same period in the prior year, the business earned $1.44 earnings per share. Alphabet’s quarterly revenue was up 13.6% on a year-over-year basis. Equities research analysts expect that Alphabet Inc. will post 7.63 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were given a dividend of $0.20 per share. The ex-dividend date was Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.48%. Alphabet’s payout ratio is 12.27%.

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.