WESPAC Advisors LLC Reduces Holdings in Alphabet Inc. (NASDAQ:GOOG)

WESPAC Advisors LLC reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOG – Free Report ) by 35.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,481 shares of the information services provider’s stock after selling 1,385 shares during the quarter. WESPAC Advisors LLC’s holdings in Alphabet were worth $455,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of GOOG. Searle & CO. raised its stake in shares of Alphabet by 53.5% in the second quarter. Searle & CO. now owns 10,116 shares of the information services provider’s stock valued at $1,856,000 after buying an additional 3,526 shares during the period. Pinnacle Wealth Management LLC boosted its holdings in Alphabet by 3.7% in the second quarter. Pinnacle Wealth Management LLC now owns 19,645 shares of the information services provider’s stock valued at $3,603,000 after acquiring an additional 709 shares in the last quarter. JMG Financial Group Ltd. purchased a new stake in Alphabet in the second quarter valued at about $224,000. Hantz Financial Services Inc. purchased a new stake in Alphabet in the second quarter valued at approximately $62,188,000. Finally, BOS Asset Management LLC purchased a new position in shares of Alphabet in the second quarter worth about $227,000. 27.26% of the shares are currently held by hedge funds and other institutional investors.

Insider buying and selling at Alphabet

In other Alphabet 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 transaction, the chief accounting officer now directly owns 29,966 shares of the company’s stock, valued at approximately $5,209,888.76. The sale was disclosed in a filing with the SEC, which is accessible through the SEC’s website. In related news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $173.86, for a total value of $118,572.52. Following the sale, the chief accounting officer now directly owns 29,966 shares of the company’s stock, valued at $5,209,888.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Prabhakar Raghavan sold 3,262 shares of the stock in a transaction 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 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. Insiders have sold a total of 179,065 shares of company stock worth $31,025,543 over the last 90 days. 12.99% of shares are owned by corporate insiders.

Analysts set new price targets

A number of analysts recently issued reports on GOOG shares. TD Cowen boosted their target price on Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Wolfe Research upgraded shares of Alphabet to a “strong-buy” rating in a research note on Tuesday, July 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. 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 report on Friday, June 28th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $182.86, based on data from MarketBeat.

Read the latest stock analysis on GOOG

Alphabet trading up 1.0%

GOOG opened at $165.11 on Friday. The firm has a market cap of $2.03 trillion, a P/E ratio of 25.32, a P/E/G ratio of 1.22 and a beta of 1.05. The company’s 50-day moving average is $175.10 and its 200-day moving average is $165.12. 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 Inc. it has a 52-week low of $121.46 and a 52-week 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. The firm had revenue of $84.74 billion for the quarter, compared to the consensus estimate of $84.22 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The company’s quarterly revenue was up 13.6% year over year. In the same quarter last year, the firm posted EPS of $1.44. Analysts expect Alphabet Inc. will record 7.63 EPS for the current fiscal year.

Alphabet announces dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 9th will be issued a $0.20 dividend. This represents a dividend of $0.80 on an annualized basis and a yield of 0.48%. The ex-dividend date of this dividend is Monday, September 9. Alphabet’s dividend payout ratio is currently 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 advertising, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search and YouTube.

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