Boston Mountain Money Management Inc. sell 117 shares of Alphabet Inc. (NASDAQ:GOOG)

Boston Mountain Money Management Inc. reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOG – Free Report) by 1.3% during the 2nd quarter, Holdings Channel.com reports. The firm owned 8,958 shares of the information services provider’s stock after selling 117 shares during the quarter. Alphabet accounts for approximately 1.1% of Boston Mountain Money Management Inc.’s holdings, making the stock its 18th biggest holding. Holdings of Boston Mountain Money Management Inc. holdings in Alphabet were worth $1,643,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Partnership Wealth Management LLC purchased a new position in Alphabet in the fourth quarter valued at approximately $26,000. DiNuzzo Private Wealth Inc. bought a new stake in Alphabet in the fourth quarter valued at $32,000. Richardson Financial Services Inc. bought a new position in Alphabet in the fourth quarter valued at $34,000. Pacific Capital Wealth Advisors Inc. bought a new stake in shares of Alphabet in the 4th quarter valued at about $34,000. Finally, Hoese & Co LLP boosted its holdings in shares of Alphabet by 62.5% in 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 period. 27.26% of the shares are held by hedge funds and other institutional investors.

Analyst upgrades and downgrades

GOOG has been the subject of several analyst reports. 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 report on Friday, June 28. Wolfe Research raised shares of Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. 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. Finally, TD Cowen raised their target price 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. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $182.86, based on data from MarketBeat.

Check out our latest report on Alphabet

Indoor activity

In other Alphabet news, SVP Prabhakar Raghavan sold 3,262 shares of the business’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 transaction of $600,175.38. Following the sale, the senior vice president now owns 9 shares of the company’s stock, valued at approximately $1,655.91. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC’s website. In related news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $173.86, for a total value of $118,572.52. Following 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 is available 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 approximately $1,655.91. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold a total of 156,565 shares of company stock worth $27,253,193. 12.99% of shares are currently held by corporate insiders.

Alphabet price performance

GOOG opened at $168.40 on Tuesday. The firm has a market cap of $2.08 trillion, a PE ratio of 25.83, a price-to-earnings-growth ratio of 1.28 and a beta of 1.05. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08, and a quick ratio of 2.08. The company’s 50-day moving average is $177.21, and its two-hundred-day moving average is $164.14. Alphabet Inc. has a 1 year low of $121.46 and a 1 year high of $193.31.

Alphabet (NASDAQ:GOOG – Get Free Report ) 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. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The company had revenue of $84.74 billion for the quarter, compared to analyst estimates of $84.22 billion. In the same period last year, the company earned $1.44 per share. The company’s revenue for the quarter was up 13.6% year over year. Research analysts anticipate that Alphabet Inc. will post 7.62 earnings per share for the current fiscal year.

Alphabetical announcement of dividends

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 paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, September 9. This represents a dividend of $0.80 on an annualized basis and a dividend yield of 0.48%. Alphabet’s payout ratio is 12.27%.

Profile of the alphabet

(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.

Featured stories

Want to see what other hedge funds own GOOG? Visit HoldingsChannel.com to get the latest 13F filings and insider trading for Alphabet Inc. (NASDAQ:GOOG – Free Report).

Get news and reviews for Alphabet Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Alphabet and related companies with MarketBeat.com’s FREE daily email newsletter.