Albert D Mason Inc. Trims Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Albert D Mason Inc. trimmed its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,069 shares of the information services provider’s stock after selling 104 shares during the quarter. Alphabet makes up 2.9% of Albert D Mason Inc.’s holdings, making the stock its biggest holding. Albert D Mason Inc.’s holdings in Alphabet were worth $4,231,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction 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 completion of the sale, the chief accounting officer now owns 29,966 shares of the company’s stock, valued at $5,209,888.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $173.86, for a total transaction of $118,572.52. Following the completion of the transaction, the chief accounting officer now owns 29,966 shares of the company’s stock, valued at $5,209,888.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $176.58, for a total transaction of $3,973,050.00. Following the transaction, the chief executive officer now directly owns 2,235,511 shares of the company’s stock, valued at $394,746,532.38. The disclosure for this sale can be found here. In the last three months, insiders have sold 121,608 shares of company stock worth $21,567,504. 12.99% of the stock is currently owned by insiders.

Alphabet Price Performance

GOOG stock traded down $6.11 during midday trading on Wednesday, reaching $159.82. The company had a trading volume of 9,969,400 shares, compared to its average volume of 20,438,164. The firm has a 50-day moving average price of $178.20 and a 200-day moving average price of $163.67. 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 has a market capitalization of $1.98 trillion, a P/E ratio of 24.63, a P/E/G ratio of 1.28 and a beta of 1.05. Alphabet Inc. has a 1 year low of $121.46 and a 1 year high of $193.31.

Alphabet (NASDAQ:GOOG) last released its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, beating 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 business had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $84.22 billion. During the same quarter in the prior year, the firm earned $1.44 earnings per share. The firm’s revenue was up 13.6% on a year-over-year basis. On average, research analysts anticipate that Alphabet Inc. will post 7.62 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, September 9th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date of this dividend is Monday, September 9th. Alphabet’s payout ratio is 12.27%.

Wall Street Analyst Weigh In

GOOG has been the subject of several analyst reports. Oppenheimer increased their target price on shares of Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. TD Cowen boosted their target price on Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Rosenblatt Securities downgraded Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target for the company. in a research report on Friday, June 28th. Stifel Nicolaus upped their price objective on Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Finally, Wolfe Research upgraded shares of Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $182.86.

Alphabet 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.