Alphabet Inc. (NASDAQ:GOOG) Shares Sold by AMI Investment Management Inc.

AMI Investment Management Inc. lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 6.2% in the second quarter, according to its most recent filing with the SEC. The fund owned 44,225 shares of the information services provider’s stock after selling 2,900 shares during the period. Alphabet comprises about 2.8% of AMI Investment Management Inc.’s portfolio, making the stock its 11th largest holding. AMI Investment Management Inc.’s holdings in Alphabet were worth $8,112,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Independence Bank of Kentucky boosted its position in shares of Alphabet by 22.6% in the 2nd quarter. Independence Bank of Kentucky now owns 8,911 shares of the information services provider’s stock valued at $1,634,000 after purchasing an additional 1,640 shares during the period. Optas LLC boosted its holdings in shares of Alphabet by 1.0% in the second quarter. Optas LLC now owns 95,018 shares of the information services provider’s stock worth $17,428,000 after buying an additional 976 shares during the period. WT Asset Management Ltd purchased a new position in shares of Alphabet in the second quarter worth approximately $34,648,000. Clear Creek Financial Management LLC raised its holdings in shares of Alphabet by 13.6% during the second quarter. Clear Creek Financial Management LLC now owns 16,695 shares of the information services provider’s stock valued at $3,062,000 after acquiring an additional 2,003 shares during the period. Finally, Aries Wealth Management lifted its position in shares of Alphabet by 20.4% in the 2nd quarter. Aries Wealth Management now owns 5,077 shares of the information services provider’s stock valued at $931,000 after acquiring an additional 860 shares in the last quarter. 27.26% of the stock is owned by institutional investors.

Alphabet Stock Up 1.2 %

Shares of Alphabet stock traded up $1.94 during trading on Friday, hitting $167.43. 14,281,621 shares of the stock traded hands, compared to its average volume of 20,309,939. The stock has a market cap of $2.07 trillion, a P/E ratio of 25.68, a PEG ratio of 1.28 and a beta of 1.05. The company has a fifty day moving average price of $176.34 and a two-hundred day moving average price of $164.64. Alphabet Inc. has a twelve month low of $121.46 and a twelve month high of $193.31. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08.

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 net margin of 26.70% and a return on equity of 30.49%. The company’s revenue was up 13.6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.44 earnings per share. Equities research analysts predict that Alphabet Inc. will post 7.62 EPS for the current fiscal year.

Alphabet Dividend Announcement

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 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 yield of 0.48%. Alphabet’s dividend payout ratio (DPR) is currently 12.27%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on GOOG shares. Rosenblatt Securities downgraded shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price on the stock. in a research note on Friday, June 28th. Wolfe Research raised Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. Oppenheimer raised their price objective on Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Finally, TD Cowen increased their price target on shares of Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on 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 stock in a transaction dated 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 transaction, 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 SEC, which is accessible through this hyperlink. In related news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $186.74, for a total value of $4,201,650.00. Following the transaction, the chief executive officer now directly owns 2,227,385 shares in the company, valued at approximately $415,941,874.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 682 shares of the business’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 transaction, the chief accounting officer now directly owns 29,966 shares of the company’s stock, valued at approximately $5,209,888.76. The disclosure for this sale can be found here. Insiders have sold a total of 179,065 shares of company stock worth $31,025,543 over the last three months. Corporate insiders own 12.99% of the company’s stock.

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.