MWA Asset Management Sells 187 Shares of Alphabet Inc. (NASDAQ:GOOG)

MWA Asset Management lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 22,478 shares of the information services provider’s stock after selling 187 shares during the period. Alphabet makes up 2.9% of MWA Asset Management’s investment portfolio, making the stock its 6th biggest holding. MWA Asset Management’s holdings in Alphabet were worth $4,123,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Partnership Wealth Management LLC acquired a new stake in shares of Alphabet in the 4th quarter worth about $26,000. 1620 Investment Advisors Inc. acquired a new stake in shares of Alphabet in the 2nd quarter worth about $37,000. DiNuzzo Private Wealth Inc. acquired a new stake in shares of Alphabet in the 4th quarter worth about $32,000. Richardson Financial Services Inc. acquired a new stake in shares of Alphabet in the 4th quarter worth about $34,000. Finally, Pacific Capital Wealth Advisors Inc. acquired a new stake in shares of Alphabet in the 4th quarter worth about $34,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Analyst Ratings Changes

GOOG has been the topic of a number of analyst reports. Rosenblatt Securities lowered shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price on the stock. in a report on Friday, June 28th. Wolfe Research upgraded shares of Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. Oppenheimer increased their price objective 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, TD Cowen increased their price objective 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. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Alphabet presently has a consensus rating of “Buy” and a consensus price target of $182.86.

Insider Transactions at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on 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 sale, the chief executive officer now owns 2,227,385 shares of the company’s stock, valued at approximately $415,941,874.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction that occurred 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 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 filing with the SEC, which is available through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the company’s 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 sale, the chief executive officer now directly owns 2,227,385 shares in the company, valued at approximately $415,941,874.90. The disclosure for this sale can be found here. Insiders sold 179,065 shares of company stock worth $31,025,543 over the last quarter. Corporate insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

Shares of NASDAQ:GOOG traded down $1.55 during mid-day trading on Tuesday, reaching $166.38. The company had a trading volume of 13,694,881 shares, compared to its average volume of 20,219,568. Alphabet Inc. has a one year low of $121.46 and a one year high of $193.31. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. The company’s 50-day moving average price is $176.13 and its 200-day moving average price is $164.91. The firm has a market cap of $2.06 trillion, a price-to-earnings ratio of 25.52, a PEG ratio of 1.28 and a beta of 1.05.

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

Alphabet Dividend Announcement

The firm also recently announced 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. The ex-dividend date of this dividend is Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.48%. Alphabet’s dividend payout ratio is presently 12.27%.

About Alphabet

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.