Leelyn Smith LLC Decreases Holdings in Alphabet Inc. (NASDAQ:GOOG)

Leelyn Smith LLC decreased its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 6.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,696 shares of the information services provider’s stock after selling 120 shares during the period. Leelyn Smith LLC’s holdings in Alphabet were worth $311,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Twelve Points Wealth Management LLC boosted its holdings in shares of Alphabet by 0.7% during the second quarter. Twelve Points Wealth Management LLC now owns 7,985 shares of the information services provider’s stock worth $1,465,000 after acquiring an additional 55 shares during the period. PCG Wealth Advisors LLC boosted its holdings in shares of Alphabet by 3.1% during the second quarter. PCG Wealth Advisors LLC now owns 1,880 shares of the information services provider’s stock worth $345,000 after acquiring an additional 57 shares during the period. Investment Advisory Services Inc. TX ADV boosted its holdings in shares of Alphabet by 1.6% during the second quarter. Investment Advisory Services Inc. TX ADV now owns 3,636 shares of the information services provider’s stock worth $667,000 after acquiring an additional 57 shares during the period. Advisors Management Group Inc. ADV boosted its holdings in shares of Alphabet by 2.0% during the second quarter. Advisors Management Group Inc. ADV now owns 2,944 shares of the information services provider’s stock worth $540,000 after acquiring an additional 58 shares during the period. Finally, Mark Sheptoff Financial Planning LLC boosted its holdings in shares of Alphabet by 11.1% during the first quarter. Mark Sheptoff Financial Planning LLC now owns 600 shares of the information services provider’s stock worth $91,000 after acquiring an additional 60 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Stock Up 1.8 %

Shares of GOOG opened at $158.37 on Monday. Alphabet Inc. has a one year low of $121.46 and a one year high of $193.31. The company has a market cap of $1.95 trillion, a P/E ratio of 24.29, a P/E/G ratio of 1.13 and a beta of 1.04. 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 has a 50 day simple moving average of $169.06 and a two-hundred day simple moving average of $166.35.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The business had revenue of $84.74 billion during the quarter, compared to the consensus estimate of $84.22 billion. During the same period in the previous year, the business earned $1.44 earnings per share. The company’s revenue was up 13.6% on a year-over-year basis. Research analysts forecast that Alphabet Inc. will post 7.63 EPS for the current fiscal year.

Alphabet Dividend Announcement

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 dividend of $0.20 per share. The ex-dividend date is Monday, September 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.51%. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on GOOG. Wolfe Research upgraded Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. TD Cowen boosted their price target on Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Cantor Fitzgerald upgraded Alphabet to a “hold” rating in a research note on Thursday, September 5th. Oppenheimer boosted their price target on Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Finally, Rosenblatt Securities cut Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target for the company. in a research note on Friday, June 28th. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $182.86.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $177.40, for a total transaction of $3,991,500.00. Following the completion of the transaction, the chief executive officer now directly owns 2,213,011 shares in the company, valued at $392,588,151.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $183.47, for a total value of $125,126.54. Following the completion of the sale, the chief accounting officer now directly owns 30,650 shares in the company, valued at $5,623,355.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $177.40, for a total transaction of $3,991,500.00. Following the sale, the chief executive officer now directly owns 2,213,011 shares in the company, valued at approximately $392,588,151.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 201,867 shares of company stock worth $34,218,581. Corporate 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.