AA Financial Advisors LLC Sells 123 Shares of Alphabet Inc. (NASDAQ:GOOG)

AA Financial Advisors LLC lowered its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,165 shares of the information services provider’s stock after selling 123 shares during the quarter. AA Financial Advisors LLC’s holdings in Alphabet were worth $1,131,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Capital International Investors grew its holdings in Alphabet by 9.3% in the 1st quarter. Capital International Investors now owns 87,716,562 shares of the information services provider’s stock valued at $13,355,724,000 after buying an additional 7,470,042 shares during the last quarter. JPMorgan Chase & Co. grew its position in Alphabet by 19.7% during the first quarter. JPMorgan Chase & Co. now owns 84,171,721 shares of the information services provider’s stock worth $12,815,986,000 after buying an additional 13,876,534 shares in the last quarter. Capital World Investors grew its holdings in shares of Alphabet by 2.2% during the 1st quarter. Capital World Investors now owns 45,731,826 shares of the information services provider’s stock worth $6,963,128,000 after purchasing an additional 979,083 shares in the last quarter. Capital Research Global Investors grew its holdings in shares of Alphabet by 2.0% during the 1st quarter. Capital Research Global Investors now owns 35,558,778 shares of the information services provider’s stock worth $5,414,179,000 after purchasing an additional 684,968 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Alphabet in the fourth quarter valued at $4,101,040,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insider Buying and Selling

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $176.58, for a total value of $3,973,050.00. Following the transaction, the chief executive officer now directly owns 2,235,511 shares of the company’s stock, valued at $394,746,532.38. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $176.58, for a total value of $3,973,050.00. Following the transaction, the chief executive officer now owns 2,235,511 shares of the company’s stock, valued at $394,746,532.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Prabhakar Raghavan sold 3,262 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $183.99, for a total value of $600,175.38. Following the transaction, 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 121,608 shares of company stock valued at $21,567,504 over the last ninety days. Insiders own 12.99% of the company’s stock.

Alphabet Trading Down 3.5 %

NASDAQ:GOOG traded down $5.74 during trading hours on Wednesday, hitting $160.19. 9,143,382 shares of the stock were exchanged, compared to its average volume of 20,428,418. The company’s 50 day moving average is $178.20 and its two-hundred day moving average is $163.67. The company has a market capitalization of $1.98 trillion, a P/E ratio of 24.63, a price-to-earnings-growth ratio of 1.28 and a beta of 1.05. Alphabet Inc. has a twelve month low of $121.46 and a twelve month high of $193.31. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (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 analyst estimates of $84.22 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The firm’s revenue for the quarter was up 13.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.44 earnings per share. On average, sell-side analysts anticipate that Alphabet Inc. will post 7.62 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 9th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.50%. The ex-dividend date of this dividend is Monday, September 9th. Alphabet’s dividend payout ratio is 12.27%.

Wall Street Analyst Weigh In

A number of brokerages have commented on GOOG. Stifel Nicolaus raised their price target on shares of Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Oppenheimer boosted their target price on shares of Alphabet from $205.00 to $210.00 and gave the company 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 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 target on the stock. in a research report on Friday, June 28th. Finally, TD Cowen increased their price target on Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $182.86.

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.