Udine Wealth Management Inc. Sells 4,056 Shares of Alphabet Inc. (NASDAQ:GOOG)

Udine Wealth Management Inc. cut its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 5.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 65,565 shares of the information services provider’s stock after selling 4,056 shares during the quarter. Alphabet accounts for 8.3% of Udine Wealth Management Inc.’s portfolio, making the stock its 5th biggest holding. Udine Wealth Management Inc.’s holdings in Alphabet were worth $11,943,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in GOOG. Partnership Wealth Management LLC acquired a new position in shares of Alphabet in the 4th quarter valued at $26,000. Equitec Proprietary Markets LLC bought a new stake in shares of Alphabet in the 4th quarter valued at about $28,000. DiNuzzo Private Wealth Inc. bought a new stake in shares of Alphabet in the 4th quarter valued at about $32,000. Richardson Financial Services Inc. bought a new position in Alphabet in the 4th quarter valued at about $34,000. Finally, Pacific Capital Wealth Advisors Inc. acquired a new position in shares of Alphabet during the 4th quarter worth approximately $34,000. 27.26% of the stock is owned by institutional investors and hedge funds.

Alphabet Trading Down 0.3 %

Alphabet stock traded down $0.46 during mid-day trading on Monday, reaching $164.93. 5,483,188 shares of the company traded hands, compared to its average volume of 20,511,137. Alphabet Inc. has a 52-week low of $121.46 and a 52-week high of $193.31. The firm has a market capitalization of $2.04 trillion, a price-to-earnings ratio of 25.37, a P/E/G 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 firm’s 50 day moving average price is $178.60 and its 200 day moving average price is $163.51.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. The company had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $84.22 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. Alphabet’s revenue was up 13.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.44 EPS. On average, analysts anticipate that Alphabet Inc. will post 7.62 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, September 9th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.49%. The ex-dividend date of this dividend is Monday, September 9th. Alphabet’s dividend payout ratio is currently 12.27%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Wolfe Research upgraded shares of Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. Rosenblatt Securities lowered shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective on the stock. in a research note on Friday, June 28th. TD Cowen increased their target price on shares of Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Stifel Nicolaus raised their price objective on shares of Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Finally, Oppenheimer raised their price objective on shares of Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Alphabet has an average rating of “Buy” and a consensus target price of $182.86.

Insider Buying and Selling at Alphabet

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 transaction of $4,201,650.00. Following the completion of the sale, the chief executive officer now owns 2,227,385 shares of the company’s stock, valued at approximately $415,941,874.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction that occurred 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 completion of 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $186.74, for a total transaction of $4,201,650.00. Following the completion of the sale, the chief executive officer now directly owns 2,227,385 shares of the company’s stock, valued at $415,941,874.90. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 143,308 shares of company stock worth $25,334,530. Company insiders own 12.99% of the company’s stock.

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.