Mirabella Financial Services LLP Sells 98,200 Shares of Alphabet Inc. $GOOG

Mirabella Financial Services LLP reduced its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 89.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,800 shares of the information services provider’s stock after selling 98,200 shares during the period. Mirabella Financial Services LLP’s holdings in Alphabet were worth $2,093,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the stock. REDW Wealth LLC increased its stake in Alphabet by 2.3% in the 2nd quarter. REDW Wealth LLC now owns 2,410 shares of the information services provider’s stock worth $428,000 after buying an additional 54 shares in the last quarter. GDS Wealth Management grew its stake in shares of Alphabet by 2.4% in the 2nd quarter. GDS Wealth Management now owns 2,325 shares of the information services provider’s stock worth $412,000 after buying an additional 54 shares in the last quarter. ACT Advisors LLC. increased its stake in Alphabet by 3.5% during the second quarter. ACT Advisors LLC. now owns 1,625 shares of the information services provider’s stock worth $288,000 after acquiring an additional 55 shares during the last quarter. Moser Wealth Advisors LLC increased its position in shares of Alphabet by 2.2% during the 2nd quarter. Moser Wealth Advisors LLC now owns 2,545 shares of the information services provider’s stock valued at $451,000 after purchasing an additional 55 shares during the last quarter. Finally, LongView Wealth Management raised its stake in shares of Alphabet by 1.1% in the second quarter. LongView Wealth Management now owns 5,126 shares of the information services provider’s stock valued at $909,000 after acquiring an additional 56 shares during the period. Institutional investors own 27.26% of the company’s stock.

Alphabet Stock Performance

NASDAQ GOOG opened at $318.39 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.75 and a current ratio of 1.75. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $328.67. The stock’s fifty day moving average is $275.23 and its two-hundred day moving average is $223.79. The firm has a market capitalization of $3.84 trillion, a P/E ratio of 31.40, a price-to-earnings-growth ratio of 1.86 and a beta of 1.07.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Thursday, October 30th. The information services provider reported $2.87 EPS for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a return on equity of 35.00% and a net margin of 32.23%.The company had revenue of $102.35 billion for the quarter, compared to the consensus estimate of $99.90 billion. During the same quarter in the previous year, the business earned $2.12 earnings per share. The company’s revenue for the quarter was up 15.9% on a year-over-year basis. On average, research analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 8th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Monday, December 8th. Alphabet’s dividend payout ratio (DPR) is presently 8.28%.

Insiders Place Their Bets

In other news, insider John Kent Walker sold 17,816 shares of the company’s stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the completion of the transaction, the insider directly owned 42,985 shares of the company’s stock, valued at approximately $10,635,348.70. This represents a 29.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $250.15, for a total transaction of $8,129,875.00. Following the sale, the chief executive officer owned 2,369,619 shares in the company, valued at $592,760,192.85. This represents a 1.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 196,406 shares of company stock worth $51,743,408 in the last 90 days. Corporate insiders own 12.99% of the company’s stock.

Analysts Set New Price Targets

GOOG has been the subject of several research analyst reports. Cantor Fitzgerald reiterated a “neutral” rating on shares of Alphabet in a research report on Wednesday. DA Davidson set a $300.00 price objective on Alphabet in a research note on Tuesday, November 25th. Rosenblatt Securities set a $279.00 target price on shares of Alphabet in a research note on Thursday, October 30th. Guggenheim restated a “buy” rating and set a $375.00 price target on shares of Alphabet in a research note on Monday. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $330.00 target price on shares of Alphabet in a research report on Thursday, October 30th. Seven research analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $307.22.

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.