Fortune Financial Advisors LLC has $655,000 position in Alphabet Inc. (NASDAQ:GOOG)

Fortune Financial Advisors LLC reduced its holdings in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 10.1% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 3,569 shares of the information services provider’s stock after selling 400 shares during the quarter. Fortune Financial Advisors LLC’s holdings in Alphabet were worth $655,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the company. Richardson Financial Services Inc. purchased a new stake in shares of Alphabet in the 4th quarter valued at approximately $34,000. 1620 Investment Advisors Inc. bought a new position in shares of Alphabet in the second quarter valued at approximately $37,000. Slocum Gordon & Co LLP acquired a new stake in Alphabet in the second quarter valued at approximately $44,000. Hoese & Co LLP boosted its stake 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. Finally, Iron Horse Wealth Management LLC acquired a new position in Alphabet in the second quarter valued at about $48,000. 27.26% of shares are owned by institutional investors.

The Wall Street analyst weighs in

A number of analysts have recently issued reports on the stock. Oppenheimer lifted 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. DA Davidson upgraded shares of Alphabet to a “hold” rating in a research note on Tuesday. TD Cowen boosted their price objective 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. Rosenblatt Securities downgraded Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price on the stock. in a research report on Friday, June 28th. Finally, Wolfe Research upgraded Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Moderate Buy” and a consensus price target of $182.86, according to MarketBeat.com.

Check out our latest report on GOOG

Insider buying and selling at Alphabet

In other news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total value of $125,126.54. Following the transaction, the chief accounting officer now directly owns 30,650 shares of the company’s stock, valued at $5,623,355.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available on the SEC’s website. In other news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total transaction of $125,126.54. Following the completion of the sale, the chief accounting officer now owns 30,650 shares in the company, valued at $5,623,355.50. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $177.40, for a total value of $3,991,500.00. Following the transaction, the chief executive officer now owns 2,213,011 shares in the company, valued at approximately $392,588,151.40. The disclosure for this sale can be found here. Insiders sold 201,867 shares of company stock worth $34,218,581 in the last quarter. 12.99% of shares are currently owned by insiders.

Alphabet stock 1.8%

Shares of GOOG stock opened at $158.37 on Friday. Alphabet Inc. it has a 52-week low of $121.46 and a 52-week high of $193.31. The stock has a market cap of $1.95 trillion, a price-to-earnings ratio of 24.29, a PEG ratio of 1.13 and a beta of 1.04. The company’s 50-day moving average is $169.06 and its 200-day moving average is $165.96. 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 (NASDAQ:GOOG – Get Your Free Report ) last released its quarterly earnings data 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. 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 for the quarter was up 13.6% compared to the same quarter last year. Sell-side analysts predict that Alphabet Inc. will post 7.63 EPS for the current 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 an annualized dividend of $0.80 and a yield of 0.51%. The ex-dividend date of this dividend is Monday, September 9. Alphabet’s dividend payout ratio is 12.27%.

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 advertising, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search and YouTube.

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