Dakota Wealth Management sells 1,824 shares of Alphabet Inc. (NASDAQ:GOOG)

Dakota Wealth Management reduced its stake in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 1.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 184,172 shares of the information services provider’s stock after selling 1,824 shares during the quarter. Alphabet makes up 0.8% of Dakota Wealth Management’s holdings, making the stock its 20th largest position. Dakota Wealth Management’s holdings in Alphabet were worth $33,781,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have recently modified their holdings of the company. Colonial River Wealth Management LLC raised its holdings in Alphabet by 5.3% in the 2nd quarter. Colonial River Wealth Management LLC now owns 2,126 shares of the information services provider’s stock worth $390,000 after acquiring an additional 107 shares in the last quarter. First Citizens Bank & Trust Co. boosted its holdings in shares of Alphabet by 1.6% in the second quarter. First Citizens Bank & Trust Co. now owns 151,624 shares of the information services provider’s stock worth $27,811,000 after acquiring an additional 2,374 shares during the period. China Universal Asset Management Co. Ltd. raised its position in shares of Alphabet by 3.6% in the second quarter. China Universal Asset Management Co. Ltd. now owns 20,980 shares of the information services provider’s stock valued at $3,848,000 after buying an additional 731 shares in the last quarter. Kavar Capital Partners Group LLC boosted its stake in Alphabet by 4.2% in the second quarter. Kavar Capital Partners Group LLC now owns 6,196 shares of the information services provider’s stock worth $1,136,000 after buying an additional 250 shares during the period. Finally, Raymond James Financial Services Advisors Inc. raised its position in shares of Alphabet by 4.7% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 1,863,565 shares of the information services provider’s stock valued at $341,815,000 after buying an additional 83,482 shares during the period. 27.26% of shares are owned by institutional investors.

Alphabet price performance

Shares of NASDAQ GOOG traded down $1.56 during mid-day trading on Wednesday, hitting $167.40. 1,173,380 shares of the company traded hands, compared to its average volume of 20,267,342. 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 Inc. has a 1 year low of $121.46 and a 1 year high of $193.31. The company’s 50-day moving average is $177.02, and its two-hundred-day moving average is $164.32. The company has a market cap of $2.07 trillion, a P/E ratio of 25.91, a PEG ratio of 1.28 and a beta of 1.05.

Alphabet (NASDAQ:GOOG – Get Free Report ) last announced its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $84.22 billion. In the same quarter last year, the business posted EPS of $1.44. The company’s revenue for the quarter was up 13.6% year over year. On average, equities analysts anticipate that Alphabet Inc. will post 7.62 EPS for the current fiscal year.

Alphabet announces dividend

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

Insider buying and selling at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $186.74, for a total transaction of $4,201,650.00. Following the transaction, the chief executive officer now directly owns 2,227,385 shares of the company’s stock, valued at $415,941,874.90. The sale was disclosed in a filing with the SEC, which is accessible via this link. In other news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $186.74, for a total value of $4,201,650.00. Following the sale, the chief executive officer now directly owns 2,227,385 shares in the company, valued at approximately $415,941,874.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed via this link. Also, Director John L. Hennessy sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $185.85, for a total transaction of $278,775.00. Following the transaction, the director now owns 30,824 shares of the company’s stock, valued at approximately $5,728,640.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 156,565 shares of company stock valued at $27,253,193. Company insiders own 12.99% of the company’s shares.

The Wall Street analyst weighs in

GOOG has been the subject of several analyst reports. Wolfe Research raised shares of Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. TD Cowen upped their target price on shares of Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Oppenheimer boosted their price objective 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 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 analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $182.86.

Read the latest stock analysis on GOOG

About 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.

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