Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Connable Office Inc.

Connable Office Inc. lowered its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 4.6% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 27,118 shares of the information services provider’s stock after selling 1,308 shares during the quarter. Connable Office Inc.’s holdings in Alphabet were worth $4,940,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of GOOGL. MorganRosel Wealth Management LLC grew its stake in shares of Alphabet by 3.6% in the 2nd quarter. MorganRosel Wealth Management LLC now owns 1,620 shares of the information services provider’s stock worth $295,000 after acquiring an additional 57 shares in the last quarter. Hengehold Capital Management LLC increased its stake in Alphabet by 0.8% in the 2nd quarter. Hengehold Capital Management LLC now owns 7,224 shares of the information services provider’s stock valued at $1,316,000 after buying an additional 60 shares during the last quarter. Christopher J. Hasenberg Inc lifted its position in shares of Alphabet by 75.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after buying an additional 60 shares in the last quarter. Joseph P. Lucia & Associates LLC grew its holdings in shares of Alphabet by 1.0% in the first quarter. Joseph P. Lucia & Associates LLC now owns 6,624 shares of the information services provider’s stock valued at $1,000,000 after acquiring an additional 64 shares in the last quarter. Finally, Sunflower Bank N.A. increased its position in shares of Alphabet by 1.0% during the second quarter. Sunflower Bank N.A. now owns 6,309 shares of the information services provider’s stock valued at $1,149,000 after acquiring an additional 65 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction that occurred on 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 directly owns 30,650 shares of the company’s stock, valued at approximately $5,623,355.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CAO Amie Thuener O’toole sold 682 shares of Alphabet 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 transaction, the chief accounting officer now directly 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 SEC, which is available at this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $160.63, for a total transaction of $3,614,175.00. Following the transaction, the chief executive officer now directly owns 2,114,885 shares of the company’s stock, valued at approximately $339,713,977.55. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 180,167 shares of company stock valued at $29,762,606. 11.55% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages have issued reports on GOOGL. JMP Securities restated a “market outperform” rating and issued a $200.00 price objective on shares of Alphabet in a research note on Monday, September 16th. Piper Sandler decreased their price objective on shares of Alphabet from $206.00 to $200.00 and set an “overweight” rating for the company in a report on Tuesday, September 10th. Guggenheim boosted their target price on shares of Alphabet from $195.00 to $205.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Wolfe Research assumed coverage on shares of Alphabet in a report on Tuesday, July 16th. They issued an “outperform” rating and a $240.00 price target on the stock. Finally, DA Davidson began coverage on Alphabet in a report on Tuesday, September 10th. They set a “neutral” rating and a $170.00 price objective for the company. Eight analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Alphabet has an average rating of “Moderate Buy” and an average target price of $201.08.

Alphabet Trading Down 1.1 %

NASDAQ:GOOGL opened at $161.85 on Tuesday. The firm has a market capitalization of $2.00 trillion, a P/E ratio of 24.82, a P/E/G ratio of 1.13 and a beta of 1.04. Alphabet Inc. has a 52 week low of $120.21 and a 52 week high of $191.75. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. The company has a fifty day moving average of $164.23 and a 200 day moving average of $165.98.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. The company had revenue of $84.74 billion during the quarter, compared to analyst estimates of $70.60 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same period in the prior year, the business posted $1.44 earnings per share. On average, research analysts predict that Alphabet Inc. will post 7.64 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date was Monday, September 9th. Alphabet’s payout ratio is 12.27%.

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.