Clay Northam Wealth Management LLC Decreases Stake in Alphabet Inc. (NASDAQ:GOOG)

Clay Northam Wealth Management LLC cut its holdings in Alphabet Inc. (NASDAQ:GOOG) by 0.2% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 39,018 shares of the information services provider’s stock after selling 70 shares during the quarter. Alphabet makes up 5.4% of Clay Northam Wealth Management LLC’s portfolio, making the stock its 6th largest position. Clay Northam Wealth Management LLC’s holdings in Alphabet were worth $7,157,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in GOOG. Partnership Wealth Management LLC acquired a new position in shares of Alphabet during the fourth quarter valued at $26,000. DiNuzzo Private Wealth Inc. bought a new stake in Alphabet during the 4th quarter worth about $32,000. Pacific Capital Wealth Advisors Inc. acquired a new position in Alphabet during the 4th quarter valued at about $34,000. Richardson Financial Services Inc. bought a new position in shares of Alphabet in the 4th quarter valued at about $34,000. Finally, Hoese & Co LLP boosted its stake in shares of Alphabet by 62.5% in the 2nd quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock valued at $45,000 after purchasing an additional 100 shares during the last quarter. 27.26% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently weighed in on GOOG shares. Oppenheimer increased their price objective on shares of Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Rosenblatt Securities downgraded Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target on the stock. in a research note on Friday, June 28th. TD Cowen raised their price target on Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Finally, Wolfe Research upgraded Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. One equities research 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, Alphabet currently has an average rating of “Buy” and an average target price of $182.86.

Alphabet Trading Up 1.0 %

Shares of GOOG stock traded up $1.57 on Friday, hitting $164.74. The stock had a trading volume of 16,853,137 shares, compared to its average volume of 20,481,816. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a twelve month low of $121.46 and a twelve month high of $193.31. The company has a fifty day moving average price of $177.37 and a two-hundred day moving average price of $163.96. The firm has a market cap of $2.04 trillion, a P/E ratio of 25.27, a PEG ratio of 1.28 and a beta of 1.05.

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

Alphabet Announces Dividend

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

Insiders Place Their Bets

In other news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $173.86, for a total transaction 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 can be accessed through this hyperlink. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the completion of the transaction, the chief executive officer now owns 2,182,385 shares of the company’s stock, valued at approximately $354,310,204.75. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, 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 transaction of $118,572.52. Following the transaction, the chief accounting officer now directly owns 29,966 shares of the company’s stock, valued at $5,209,888.76. The disclosure for this sale can be found here. In the last three months, insiders have sold 155,865 shares of company stock worth $27,137,693. 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.