SeaCrest Wealth Management LLC Sells 182 Shares of Alphabet Inc. (NASDAQ:GOOG)

SeaCrest Wealth Management LLC lessened its holdings in Alphabet Inc. (NASDAQ:GOOG) by 0.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 124,339 shares of the information services provider’s stock after selling 182 shares during the period. Alphabet accounts for approximately 2.6% of SeaCrest Wealth Management LLC’s portfolio, making the stock its 5th largest holding. SeaCrest Wealth Management LLC’s holdings in Alphabet were worth $22,806,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. International Assets Investment Management LLC acquired a new stake in shares of Alphabet during the fourth quarter worth approximately $8,232,000. AIA Group Ltd boosted its position in shares of Alphabet by 11.5% during the 4th quarter. AIA Group Ltd now owns 65,052 shares of the information services provider’s stock valued at $9,168,000 after purchasing an additional 6,694 shares in the last quarter. Tiller Private Wealth Inc. raised its position in shares of Alphabet by 3.1% during the fourth quarter. Tiller Private Wealth Inc. now owns 2,709 shares of the information services provider’s stock worth $382,000 after purchasing an additional 82 shares during the period. Xponance Inc. raised its holdings in shares of Alphabet by 0.5% during the fourth quarter. Xponance Inc. now owns 1,172,172 shares of the information services provider’s stock valued at $165,194,000 after acquiring an additional 5,980 shares during the period. Finally, Fidelis Capital Partners LLC boosted its position in Alphabet by 13.5% during the 4th quarter. Fidelis Capital Partners LLC now owns 62,414 shares of the information services provider’s stock worth $8,796,000 after acquiring an additional 7,413 shares during the period. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Trading Down 0.5 %

Alphabet stock traded down $0.92 during mid-day trading on Wednesday, hitting $168.04. 3,692,793 shares of the company’s stock were exchanged, compared to its average volume of 20,282,992. 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 quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $2.08 trillion, a P/E ratio of 25.77, a PEG ratio of 1.28 and a beta of 1.05. Alphabet Inc. has a fifty-two week low of $121.46 and a fifty-two week high of $193.31.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results 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. During the same quarter last year, the firm posted $1.44 earnings per share. Alphabet’s revenue was up 13.6% compared to the same quarter last year. On average, equities analysts anticipate that Alphabet Inc. will post 7.62 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 9th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.48%. The ex-dividend date of this dividend is Monday, September 9th. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of Alphabet 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 of the company’s stock, valued at approximately $5,209,888.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction dated 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 approximately $5,209,888.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 1,500 shares of the stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $177.92, for a total transaction of $266,880.00. Following the completion of the transaction, the director now directly owns 3,727 shares in the company, valued at $663,107.84. The disclosure for this sale can be found here. Insiders sold 156,565 shares of company stock valued at $27,253,193 over the last quarter. Corporate insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on GOOG. Oppenheimer increased their price target 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. Wolfe Research raised Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. TD Cowen increased their price target 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. Finally, Rosenblatt Securities downgraded shares of 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. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Alphabet currently has an average rating of “Buy” and a consensus target price of $182.86.

Alphabet Company Profile

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