Omega Financial Group LLC Sells 733 Shares of Alphabet Inc. (NASDAQ:GOOG)

Omega Financial Group LLC cut its stake in Alphabet Inc. (NASDAQ:GOOG) by 35.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,327 shares of the information services provider’s stock after selling 733 shares during the quarter. Omega Financial Group LLC’s holdings in Alphabet were worth $222,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of GOOG. XML Financial LLC increased its holdings in shares of Alphabet by 12.0% in the fourth quarter. XML Financial LLC now owns 13,546 shares of the information services provider’s stock worth $1,909,000 after acquiring an additional 1,449 shares in the last quarter. Lighthouse Investment Partners LLC lifted its stake in Alphabet by 151.9% in the fourth quarter. Lighthouse Investment Partners LLC now owns 20,640 shares of the information services provider’s stock valued at $2,909,000 after buying an additional 12,447 shares in the last quarter. Unigestion Holding SA boosted its holdings in shares of Alphabet by 8.1% in the fourth quarter. Unigestion Holding SA now owns 11,322 shares of the information services provider’s stock valued at $1,596,000 after buying an additional 851 shares during the period. Whitford Management LLC acquired a new position in Alphabet in the 4th quarter worth $7,973,000. Finally, VitalStone Financial LLC boosted its stake in Alphabet by 40.5% in the 4th quarter. VitalStone Financial LLC now owns 1,089 shares of the information services provider’s stock worth $153,000 after purchasing an additional 314 shares during the period. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction 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. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Alphabet news, Director John L. Hennessy sold 1,500 shares of the company’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $185.85, for a total value of $278,775.00. Following the transaction, the director now directly owns 30,824 shares of the company’s stock, valued at $5,728,640.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total value of $114,576.00. Following the sale, the chief accounting officer now directly owns 31,334 shares of the company’s stock, valued at $5,264,112. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 217,592 shares of company stock valued at $35,922,911 in the last quarter. 12.99% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts have recently commented on GOOG shares. DA Davidson upgraded Alphabet to a “hold” rating in a report on Tuesday, September 10th. Oppenheimer reduced their price target on Alphabet from $210.00 to $185.00 and set an “outperform” rating for the company in a research report on Wednesday, September 25th. Wolfe Research upgraded shares of Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. Rosenblatt Securities lowered shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective on the stock. in a research report on Friday, June 28th. Finally, UBS Group decreased their target price on shares of Alphabet from $204.00 to $187.00 and set a “neutral” rating for the company in a research report on Monday. Four equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and an average price target of $184.11.

Alphabet Stock Performance

Shares of GOOG stock opened at $164.39 on Tuesday. The stock has a market cap of $2.03 trillion, a P/E ratio of 25.21, a P/E/G ratio of 1.21 and a beta of 1.04. The company has a fifty day moving average price of $163.53 and a two-hundred day moving average price of $168.91. Alphabet Inc. has a one year low of $121.46 and a one year high of $193.31. 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 posted its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. The business had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $84.22 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. Alphabet’s quarterly revenue was up 13.6% on a year-over-year basis. During the same quarter last year, the company posted $1.44 earnings per share. As a group, equities analysts predict that Alphabet Inc. will post 7.63 EPS for the current year.

Alphabet Dividend Announcement

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 of this dividend was Monday, September 9th. Alphabet’s dividend payout ratio (DPR) is presently 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.