First Horizon Advisors Inc. sell 2,326 shares of Alphabet Inc. (NASDAQ:GOOG)

VaselineAugust 21, 2024

0 4 minutes read

First Horizon Advisors Inc. reduced its position in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 1.4% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 161,928 shares of the information services provider’s stock after selling 2,326 shares during the quarter. Alphabet accounts for about 0.9% of First Horizon Advisors Inc.’s holdings, making the stock its 25th largest position. Holdings of First Horizon Advisors Inc. holdings in Alphabet were worth $29,701,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. Partnership Wealth Management LLC acquired a new stake in shares of Alphabet in the fourth quarter valued at $26,000. DiNuzzo Private Wealth Inc. purchased a new position in shares of Alphabet during the fourth quarter valued at about $32,000. Pacific Capital Wealth Advisors Inc. bought a new stake in shares of Alphabet in the fourth quarter valued at about $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 boosted its holdings in Alphabet by 62.5% in the second quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock valued at $45,000 after acquiring an additional 100 shares during the last quarter. Institutional investors own 27.26% of the company’s shares.

Alphabet stock 0.3%

Shares of GOOG stock opened at $168.96 on Wednesday. The company has a market cap of $2.09 trillion, a P/E ratio of 25.91, a PEG ratio of 1.28 and a beta of 1.05. Alphabet Inc. it has a one year low of $121.46 and a one year high of $193.31. The company’s 50-day simple moving average is $177.02, and its 200-day simple moving average is $164.32. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08, and a quick ratio of 2.08.

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Alphabet (NASDAQ:GOOG – Get Your Free Report ) last issued its quarterly earnings data 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. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The company had revenue of $84.74 billion for the quarter, compared to analyst estimates of $84.22 billion. In the same quarter last year, the company earned $1.44 per share. The company’s revenue increased by 13.6% year-on-year. As a group, sell-side analysts predict that Alphabet Inc. will post 7.62 EPS for the current fiscal year.

Alphabetical announcement of dividends

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 9th will be given a $0.20 dividend. This represents a dividend of $0.80 on an annualized basis and a dividend yield of 0.47%. The ex-dividend date of this dividend is Monday, September 9. Alphabet’s dividend payout ratio is currently 12.27%.

Insider trading at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $162.35, for a total value of $3,652,875.00. Following the completion of the sale, the chief executive officer now owns 2,182,385 shares of the company’s stock, valued at $354,310,204.75. The sale was disclosed in a filing with the SEC, which is accessible through the SEC’s website. In other news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, August 7th. The shares were 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 owns 2,182,385 shares in the company, valued at approximately $354,310,204.75. The sale was disclosed in a filing with the SEC, which can be accessed via this link. Also, SVP Prabhakar Raghavan sold 3,262 shares of the stock in a transaction that occurred on 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 owns 9 shares in the company, valued at $1,655.91. The disclosure for this sale can be found here. Over the last three months, insiders have sold 156,565 shares of company stock worth $27,253,193. Corporate insiders own 12.99% of the company’s shares.

Analyst upgrades and downgrades

A number of analysts recently issued reports on GOOG shares. Wolfe Research upgraded Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. TD Cowen boosted their price objective on shares of Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Oppenheimer raised their target price on shares of Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Finally, Rosenblatt Securities cut 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. One investment 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. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $182.86.

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Alphabet Company Profile

(Free Report)

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, Asia-Pacific, Canada and Latin America. It works through Google services, Google Cloud and other betting segments. The Google Services segment offers products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search and YouTube.