Watershed Private Wealth LLC Sells 139 Shares of Alphabet Inc. (NASDAQ:GOOG)

Watershed Private Wealth LLC lowered its stake in Alphabet Inc. (NASDAQ:GOOG) by 1.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,114 shares of the information services provider’s stock after selling 139 shares during the period. Watershed Private Wealth LLC’s holdings in Alphabet were worth $1,305,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. International Assets Investment Management LLC acquired a new stake in Alphabet in the fourth quarter valued at $8,232,000. GUNN & Co INVESTMENT MANAGEMENT INC. increased its stake in shares of Alphabet by 964.3% in the fourth quarter. GUNN & Co INVESTMENT MANAGEMENT INC. now owns 482,698 shares of the information services provider’s stock valued at $68,027,000 after buying an additional 437,345 shares during the period. Gilbert & Cook Inc. raised its position in shares of Alphabet by 15.5% during the fourth quarter. Gilbert & Cook Inc. now owns 29,159 shares of the information services provider’s stock worth $4,109,000 after acquiring an additional 3,924 shares during the last quarter. Concentrum Wealth Management lifted its stake in shares of Alphabet by 25.0% in the fourth quarter. Concentrum Wealth Management now owns 16,440 shares of the information services provider’s stock worth $2,317,000 after acquiring an additional 3,283 shares during the period. Finally, Aveo Capital Partners LLC boosted its holdings in Alphabet by 2.4% in the fourth quarter. Aveo Capital Partners LLC now owns 6,647 shares of the information services provider’s stock valued at $937,000 after acquiring an additional 154 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Oppenheimer boosted their price target on shares of Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. TD Cowen increased their price target on Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Rosenblatt Securities lowered Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective for the company. in a research report on Friday, June 28th. Finally, Wolfe Research raised Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $182.86.

Alphabet Stock Performance

Shares of GOOG opened at $165.11 on Monday. Alphabet Inc. has a one year low of $121.46 and a one year high of $193.31. The company has a market cap of $2.03 trillion, a PE ratio of 25.32, a P/E/G ratio of 1.22 and a beta of 1.05. The stock has a 50-day moving average of $175.10 and a 200-day moving average of $165.38. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 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 firm had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $84.22 billion. During the same quarter last year, the firm posted $1.44 earnings per share. The company’s revenue for the quarter was up 13.6% compared to the same quarter last year. On average, equities research 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. Shareholders 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 dividend yield of 0.48%. The ex-dividend date is Monday, September 9th. Alphabet’s dividend payout ratio (DPR) is 12.27%.

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 shares were sold at an average price of $183.47, for a total value of $125,126.54. Following the sale, the chief accounting officer now owns 30,650 shares in the company, valued at approximately $5,623,355.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $176.58, for a total transaction of $3,973,050.00. Following the transaction, the chief executive officer now directly owns 2,235,511 shares of the company’s stock, valued at approximately $394,746,532.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the 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 approximately $5,623,355.50. The disclosure for this sale can be found here. Insiders sold 178,383 shares of company stock worth $30,906,970 over the last three months. 12.99% of the stock is currently owned by insiders.

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.