Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Focus Financial Network Inc.

Focus Financial Network Inc. lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 4.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,017 shares of the information services provider’s stock after selling 979 shares during the quarter. Focus Financial Network Inc.’s holdings in Alphabet were worth $4,203,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in GOOG. Partnership Wealth Management LLC acquired a new stake in Alphabet in the 4th quarter worth about $26,000. DiNuzzo Private Wealth Inc. purchased a new position in shares of Alphabet during the 4th quarter worth about $32,000. Pacific Capital Wealth Advisors Inc. acquired a new stake in shares of Alphabet in the fourth quarter worth approximately $34,000. Richardson Financial Services Inc. purchased a new stake in Alphabet in the fourth quarter valued at approximately $34,000. Finally, Hoese & Co LLP increased its position in Alphabet by 62.5% during the second 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 last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Analyst Ratings Changes

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

Insider Buying and Selling at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction on Monday, June 3rd. The shares were 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 owns 29,966 shares in the company, valued at $5,209,888.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CAO Amie Thuener O’toole sold 682 shares of Alphabet 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 transaction, the chief accounting officer now directly owns 29,966 shares in the company, valued at $5,209,888.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Prabhakar Raghavan sold 3,262 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $183.99, for a total value of $600,175.38. Following the sale, the senior vice president now owns 9 shares in the company, valued at approximately $1,655.91. The disclosure for this sale can be found here. Insiders sold a total of 156,565 shares of company stock worth $27,253,193 in the last 90 days. 12.99% of the stock is owned by corporate insiders.

Alphabet Stock Down 1.2 %

NASDAQ GOOG traded down $2.06 on Wednesday, reaching $166.90. The company had a trading volume of 5,172,515 shares, compared to its average volume of 20,292,182. The firm has a market capitalization of $2.06 trillion, a PE ratio of 25.77, a P/E/G ratio of 1.28 and a beta of 1.05. The firm has a 50-day moving average of $177.02 and a 200-day moving average of $164.32. Alphabet Inc. has a 1 year low of $121.46 and a 1 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 released its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) 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%. The firm’s quarterly revenue was up 13.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.44 EPS. On average, equities research analysts anticipate that Alphabet Inc. will post 7.62 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 9th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date is 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.