Osher Van de Voorde Investment Management Reduces Stake in Alphabet Inc. (NASDAQ:GOOG)

Osher Van de Voorde Investment Management cut its stake in Alphabet Inc. (NASDAQ:GOOG) by 22.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 115,770 shares of the information services provider’s stock after selling 33,765 shares during the quarter. Alphabet makes up approximately 4.9% of Osher Van de Voorde Investment Management’s investment portfolio, making the stock its 4th largest holding. Osher Van de Voorde Investment Management’s holdings in Alphabet were worth $21,088,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of GOOG. Partnership Wealth Management LLC acquired a new stake in Alphabet during the fourth quarter worth about $26,000. Equitec Proprietary Markets LLC bought a new stake in shares of Alphabet during the 4th quarter valued at approximately $28,000. DiNuzzo Private Wealth Inc. acquired a new position in Alphabet during the 4th quarter worth approximately $32,000. Pacific Capital Wealth Advisors Inc. bought a new position in Alphabet in the 4th quarter valued at approximately $34,000. Finally, Richardson Financial Services Inc. acquired a new stake in Alphabet in the fourth quarter valued at approximately $34,000. 27.26% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $173.86, for a total value of $118,572.52. Following the completion of the sale, the chief accounting officer now directly owns 29,966 shares in the company, valued at approximately $5,209,888.76. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $173.86, for a total value of $118,572.52. Following the completion of the sale, the chief accounting officer now directly owns 29,966 shares in the company, valued at approximately $5,209,888.76. The sale was disclosed in a document filed 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 dated Monday, July 1st. The shares were sold at an average price of $183.99, for a total transaction of $600,175.38. Following the completion of the transaction, the senior vice president now directly owns 9 shares in the company, valued at approximately $1,655.91. The disclosure for this sale can be found here. In the last ninety days, insiders sold 121,608 shares of company stock worth $21,567,504. Company insiders own 12.99% of the company’s stock.

Alphabet Trading Up 0.7 %

Alphabet stock traded up $1.14 during trading hours on Thursday, reaching $163.17. 18,192,150 shares of the company’s stock were exchanged, compared to its average volume of 20,503,771. 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 firm’s 50 day simple moving average is $177.90 and its 200 day simple moving average is $163.66. Alphabet Inc. has a twelve month low of $121.46 and a twelve month high of $193.31. The firm has a market capitalization of $2.02 trillion, a PE ratio of 24.84, a PEG ratio of 1.28 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last issued its quarterly 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. 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 the consensus estimate of $84.22 billion. During the same period last year, the business posted $1.44 EPS. The business’s revenue was up 13.6% compared to the same quarter last year. Research analysts predict that Alphabet Inc. will post 7.62 earnings per share for the current year.

Alphabet Dividend Announcement

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

Wall Street Analyst Weigh In

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

Alphabet Company 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.