Semmax Financial Advisors Inc. Trims Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Semmax Financial Advisors Inc. lessened its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 15.4% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,175 shares of the information services provider’s stock after selling 1,858 shares during the quarter. Semmax Financial Advisors Inc.’s holdings in Alphabet were worth $1,866,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of GOOG. Richardson Financial Services Inc. acquired a new position in Alphabet in the 4th quarter worth approximately $34,000. 1620 Investment Advisors Inc. purchased a new position in shares of Alphabet during the second quarter worth $37,000. Slocum Gordon & Co LLP purchased a new position in shares of Alphabet during the second quarter worth $44,000. Hoese & Co LLP grew its position in Alphabet by 62.5% during the 2nd quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock worth $45,000 after purchasing an additional 100 shares during the period. Finally, Iron Horse Wealth Management LLC acquired a new position in shares of Alphabet in the 2nd quarter valued at about $48,000. 27.26% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction 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 owns 2,227,385 shares of the company’s stock, valued at $415,941,874.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $186.74, for a total value of $4,201,650.00. Following the completion of the sale, the chief executive officer now owns 2,227,385 shares of the company’s stock, valued at approximately $415,941,874.90. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Prabhakar Raghavan sold 3,262 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $183.99, for a total value of $600,175.38. Following the sale, the senior vice president now directly owns 9 shares of the company’s stock, valued at approximately $1,655.91. The disclosure for this sale can be found here. Insiders sold 202,667 shares of company stock worth $33,964,256 over the last ninety days. Corporate insiders own 12.99% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Wolfe Research raised Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. Cantor Fitzgerald raised shares of Alphabet to a “hold” rating in a report on Thursday, September 5th. TD Cowen lifted their price objective on shares of Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Oppenheimer increased their target price on shares of Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Finally, Rosenblatt Securities cut Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price on the stock. in a research report on Friday, June 28th. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $182.86.

Alphabet Stock Performance

NASDAQ GOOG opened at $163.07 on Tuesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. The stock’s 50 day simple moving average is $165.76 and its 200-day simple moving average is $167.46. The company has a market cap of $2.02 trillion, a PE ratio of 25.01, a price-to-earnings-growth ratio of 1.13 and a beta of 1.04. Alphabet Inc. has a 1-year low of $121.46 and a 1-year high of $193.31.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.04. The firm 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%. During the same period last year, the firm posted $1.44 earnings per share. The company’s revenue for the quarter was up 13.6% on a year-over-year basis. As a group, equities research analysts anticipate 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 issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.49%. The ex-dividend date of this dividend was Monday, September 9th. Alphabet’s dividend payout ratio is currently 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.