CRA Financial Services LLC Sells 554 Shares of Alphabet Inc. (NASDAQ:GOOG)

CRA Financial Services LLC trimmed its holdings in Alphabet Inc. (NASDAQ:GOOG) by 2.0% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 26,706 shares of the information services provider’s stock after selling 554 shares during the quarter. Alphabet makes up 0.8% of CRA Financial Services LLC’s investment portfolio, making the stock its 25th largest position. CRA Financial Services LLC’s holdings in Alphabet were worth $4,465,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently added to or reduced their stakes in the business. Abich Financial Wealth Management LLC increased its holdings in Alphabet by 9,200.0% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock valued at $34,000 after buying an additional 184 shares during the period. 1620 Investment Advisors Inc. bought a new stake in Alphabet in the 2nd quarter valued at $37,000. HWG Holdings LP bought a new stake in shares of Alphabet in the 2nd quarter worth about $40,000. Richardson Financial Services Inc. bought a new stake in shares of Alphabet in the 4th quarter worth about $34,000. Finally, Slocum Gordon & Co LLP bought a new stake in shares of Alphabet in the 2nd quarter worth about $44,000. 27.26% of the stock is owned by institutional investors.

Alphabet Trading Up 0.8 %

GOOG stock traded up $1.34 during midday trading on Friday, hitting $164.52. The company had a trading volume of 10,945,971 shares, compared to its average volume of 19,793,420. 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 stock has a market cap of $2.03 trillion, a price-to-earnings ratio of 23.60, a PEG ratio of 1.21 and a beta of 1.04. The stock’s 50 day moving average price is $162.81 and its 200 day moving average price is $169.13. Alphabet Inc. has a 52 week low of $121.46 and a 52 week high of $193.31.

Alphabet (NASDAQ:GOOG) last released its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The firm had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $84.22 billion. During the same period in the prior year, the firm posted $1.44 earnings per share. The company’s quarterly revenue was up 13.6% on a year-over-year basis. As a group, equities research analysts expect that Alphabet Inc. will post 7.64 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date of this dividend was Monday, September 9th. Alphabet’s payout ratio is currently 11.48%.

Insider Buying and Selling at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $182.84, for a total value of $4,113,900.00. Following the sale, the chief executive officer now owns 2,204,885 shares in the company, valued at $403,141,173.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $182.84, for a total value of $4,113,900.00. Following the completion of the sale, the chief executive officer now owns 2,204,885 shares of the company’s stock, valued at approximately $403,141,173.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Prabhakar Raghavan sold 34,257 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total value of $5,570,188.20. Following the completion of the transaction, the senior vice president now owns 312,210 shares of the company’s stock, valued at $50,765,346. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 216,092 shares of company stock valued at $35,644,136 in the last ninety days. Corporate insiders own 12.99% of the company’s stock.

Analyst Upgrades and Downgrades

GOOG has been the topic of several analyst reports. Wolfe Research raised shares of Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. UBS Group decreased their price objective on shares of Alphabet from $204.00 to $187.00 and set a “neutral” rating on the stock in a report on Monday, October 7th. 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 report on Wednesday, July 10th. Cantor Fitzgerald raised shares of Alphabet to a “hold” rating in a report on Thursday, September 5th. Finally, Oppenheimer decreased their price objective on shares of Alphabet from $210.00 to $185.00 and set an “outperform” rating on the stock in a report on Wednesday, September 25th. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and an average price target of $186.90.

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.