McClarren Financial Advisors Inc. Sells 104 Shares of Alphabet Inc. (NASDAQ:GOOG)

McClarren Financial Advisors Inc. lessened its stake in Alphabet Inc. (NASDAQ:GOOG) by 5.9% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,650 shares of the information services provider’s stock after selling 104 shares during the quarter. McClarren Financial Advisors Inc.’s holdings in Alphabet were worth $324,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GOOG. Park Avenue Securities LLC raised its stake in Alphabet by 11.9% during the first quarter. Park Avenue Securities LLC now owns 109,878 shares of the information services provider’s stock valued at $16,730,000 after purchasing an additional 11,646 shares in the last quarter. Colonial River Wealth Management LLC grew its position in Alphabet by 5.3% in the second quarter. Colonial River Wealth Management LLC now owns 2,126 shares of the information services provider’s stock worth $390,000 after acquiring an additional 107 shares in the last quarter. Apexium Financial LP increased its stake in Alphabet by 335.9% during the fourth quarter. Apexium Financial LP now owns 53,823 shares of the information services provider’s stock worth $7,586,000 after acquiring an additional 41,476 shares during the last quarter. Oak Ridge Investments LLC lifted its stake in shares of Alphabet by 4.6% in the 1st quarter. Oak Ridge Investments LLC now owns 187,229 shares of the information services provider’s stock valued at $28,508,000 after purchasing an additional 8,201 shares during the last quarter. Finally, V Square Quantitative Management LLC increased its position in shares of Alphabet by 0.7% during the 1st quarter. V Square Quantitative Management LLC now owns 62,917 shares of the information services provider’s stock valued at $9,580,000 after purchasing an additional 426 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $167.66, for a total transaction of $3,772,350.00. Following the transaction, the chief executive officer now directly owns 2,159,885 shares of the company’s stock, valued at approximately $362,126,319.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CAO Amie Thuener O’toole sold 682 shares of the business’s 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 sale, the chief accounting officer now directly owns 29,966 shares of the company’s stock, valued at $5,209,888.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $167.66, for a total value of $3,772,350.00. Following the completion of the transaction, the chief executive officer now owns 2,159,885 shares of the company’s stock, valued at approximately $362,126,319.10. The disclosure for this sale can be found here. Over the last three months, insiders have sold 179,065 shares of company stock valued at $31,025,543. 12.99% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on GOOG. 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. Wolfe Research upgraded shares of Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. TD Cowen increased their price objective 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. Finally, Oppenheimer boosted their target price on Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. One investment 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 stock. According to data from MarketBeat.com, Alphabet presently has an average rating of “Buy” and an average target price of $182.86.

Alphabet Trading Down 1.1 %

Shares of Alphabet stock traded down $1.88 on Wednesday, hitting $164.50. 14,230,827 shares of the company traded hands, compared to its average volume of 20,183,631. 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 has a market cap of $2.03 trillion, a PE ratio of 25.27, a PEG ratio of 1.28 and a beta of 1.05. The stock’s 50 day moving average price is $176.13 and its 200-day moving average price is $164.91. Alphabet Inc. has a 52 week low of $121.46 and a 52 week high of $193.31.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results 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. The business had revenue of $84.74 billion during the quarter, compared to analyst estimates of $84.22 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The company’s quarterly revenue was up 13.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.44 EPS. Equities research analysts predict that Alphabet Inc. will post 7.62 EPS for the current year.

Alphabet Dividend Announcement

The company 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 $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date is Monday, September 9th. Alphabet’s dividend payout ratio is currently 12.27%.

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.