Delta Financial Group Inc. Sells 365 Shares of Alphabet Inc. (NASDAQ:GOOG)

Delta Financial Group Inc. decreased its holdings in Alphabet Inc. (NASDAQ:GOOG) by 1.3% during the second quarter, Holdings Channel.com reports. The firm owned 27,550 shares of the information services provider’s stock after selling 365 shares during the period. Alphabet comprises about 2.1% of Delta Financial Group Inc.’s portfolio, making the stock its 5th biggest holding. Delta Financial Group Inc.’s holdings in Alphabet were worth $5,053,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Partnership Wealth Management LLC acquired a new position in Alphabet in the fourth quarter worth approximately $26,000. Equitec Proprietary Markets LLC acquired a new position in Alphabet in the fourth quarter worth approximately $28,000. DiNuzzo Private Wealth Inc. acquired a new position in Alphabet in the fourth quarter worth approximately $32,000. Pacific Capital Wealth Advisors Inc. acquired a new position in Alphabet in the fourth quarter worth approximately $34,000. Finally, Richardson Financial Services Inc. acquired a new position in Alphabet in the fourth quarter worth approximately $34,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insider Buying and Selling

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the completion of the transaction, the chief executive officer now directly owns 2,182,385 shares in the company, valued at $354,310,204.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total transaction of $114,576.00. Following the completion of the transaction, the chief accounting officer now directly owns 31,334 shares in the company, valued at $5,264,112. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $162.35, for a total value of $3,652,875.00. Following the transaction, the chief executive officer now owns 2,182,385 shares of the company’s stock, valued at $354,310,204.75. The disclosure for this sale can be found here. Insiders sold a total of 143,308 shares of company stock valued at $25,334,530 over the last ninety days. 12.99% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on GOOG. TD Cowen upped their target price on Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Stifel Nicolaus upped their target price on Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Oppenheimer upped their target price on Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Wolfe Research raised Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. Finally, Rosenblatt Securities cut Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price for the company. in a research report on Friday, June 28th. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $182.86.

Alphabet Stock Performance

Shares of GOOG traded down $1.44 during mid-day trading on Monday, hitting $163.95. The company’s stock had a trading volume of 12,384,181 shares, compared to its average volume of 20,555,947. Alphabet Inc. has a one year low of $121.46 and a one year 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. The firm has a market capitalization of $2.03 trillion, a PE ratio of 25.37, a price-to-earnings-growth ratio of 1.28 and a beta of 1.05. The stock’s 50-day moving average is $178.60 and its two-hundred day moving average is $163.51.

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

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 9th will be given a $0.20 dividend. The ex-dividend date is Monday, September 9th. This represents a $0.80 annualized dividend and a yield of 0.49%. Alphabet’s dividend payout ratio (DPR) 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.