NORTHSTAR ASSET MANAGEMENT Co LLC Has $3.05 Million Position in Alphabet Inc. (NASDAQ:GOOG)

NORTHSTAR ASSET MANAGEMENT Co LLC lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 3.8% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 16,630 shares of the information services provider’s stock after selling 650 shares during the period. NORTHSTAR ASSET MANAGEMENT Co LLC’s holdings in Alphabet were worth $3,050,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Partnership Wealth Management LLC acquired a new position in Alphabet during the fourth quarter worth $26,000. DiNuzzo Private Wealth Inc. bought a new stake in shares of Alphabet in the 4th quarter worth $32,000. Pacific Capital Wealth Advisors Inc. bought a new stake in shares of Alphabet in the 4th quarter worth $34,000. Richardson Financial Services Inc. bought a new stake in shares of Alphabet in the 4th quarter worth $34,000. Finally, Hoese & Co LLP grew its stake in shares of Alphabet by 62.5% in the 2nd quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock worth $45,000 after acquiring an additional 100 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insider Buying and Selling at Alphabet

In other Alphabet news, SVP Prabhakar Raghavan sold 34,257 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the sale, the senior vice president now directly owns 312,210 shares of the company’s stock, valued at $50,765,346. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, SVP Prabhakar Raghavan sold 34,257 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $162.60, for a total value of $5,570,188.20. Following the sale, the senior vice president now directly owns 312,210 shares of the company’s stock, valued at $50,765,346. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the completion of the sale, the chief executive officer now directly owns 2,182,385 shares in the company, valued at $354,310,204.75. The disclosure for this sale can be found here. Insiders have sold a total of 155,865 shares of company stock valued at $27,137,693 over the last three months. 12.99% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts have recently issued reports on GOOG shares. Oppenheimer upped 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. Wolfe Research upgraded shares of Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. Rosenblatt Securities lowered shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price for the company. in a research note on Friday, June 28th. Finally, TD Cowen upped their target price on shares of Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $182.86.

Alphabet Price Performance

GOOG opened at $164.74 on Friday. The firm has a market cap of $2.04 trillion, a P/E ratio of 25.27, a PEG ratio of 1.28 and a beta of 1.05. The firm has a 50-day moving average of $177.37 and a 200 day moving average of $163.80. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. Alphabet Inc. has a fifty-two week low of $121.46 and a fifty-two week high of $193.31.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.85 by $0.04. The business 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%. The company’s revenue was up 13.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.44 earnings per share. On average, research analysts expect that Alphabet Inc. will post 7.62 EPS for the current year.

Alphabet Announces Dividend

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 issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.49%. The ex-dividend date of this dividend is Monday, September 9th. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

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.