Alphabet Inc. (NASDAQ:GOOG) is Delta Financial Group Inc.’s 5th Largest Position

Delta Financial Group Inc. trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 27,550 shares of the information services provider’s stock after selling 365 shares during the period. Alphabet makes up about 2.1% of Delta Financial Group Inc.’s investment portfolio, making the stock its 5th largest holding. Delta Financial Group Inc.’s holdings in Alphabet were worth $5,053,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Partnership Wealth Management LLC bought a new position in shares of Alphabet in the 4th quarter worth approximately $26,000. Equitec Proprietary Markets LLC bought a new stake in Alphabet during the fourth quarter valued at approximately $28,000. DiNuzzo Private Wealth Inc. purchased a new stake in Alphabet during the fourth quarter valued at approximately $32,000. Pacific Capital Wealth Advisors Inc. bought a new position in Alphabet in the fourth quarter worth approximately $34,000. Finally, Richardson Financial Services Inc. purchased a new position in shares of Alphabet during the 4th quarter worth $34,000. Institutional investors own 27.26% of the company’s stock.

Insider Buying and Selling

In related news, SVP Prabhakar Raghavan sold 3,262 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $183.99, for a total transaction of $600,175.38. Following the completion of the transaction, the senior vice president now owns 9 shares in the company, valued at approximately $1,655.91. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, SVP Prabhakar Raghavan sold 3,262 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $183.99, for a total transaction of $600,175.38. Following the completion of the transaction, the senior vice president now owns 9 shares in the company, valued at approximately $1,655.91. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $173.22, for a total transaction of $3,897,450.00. Following the sale, the chief executive officer now owns 2,258,011 shares of the company’s stock, valued at $391,132,665.42. The disclosure for this sale can be found here. Insiders sold a total of 143,308 shares of company stock worth $25,334,530 in the last 90 days. 12.99% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have commented on GOOG shares. Wolfe Research upgraded Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. TD Cowen increased their target price on shares of Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Oppenheimer lifted their price target on shares of Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Rosenblatt Securities cut shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective for the company. in a research note on Friday, June 28th. Finally, Stifel Nicolaus lifted their target price on shares of Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $182.86.

Alphabet Stock Down 0.9 %

Alphabet stock traded down $1.44 during midday trading on Monday, hitting $163.95. 12,384,181 shares of the company’s stock were exchanged, compared to its average volume of 20,555,947. 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 Inc. has a 12 month low of $121.46 and a 12 month high of $193.31. The firm has a 50-day moving average of $178.60 and a two-hundred day moving average of $163.51. The company has a market cap of $2.03 trillion, a PE ratio of 25.37, a P/E/G ratio of 1.28 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share 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 during the quarter, compared to analysts’ expectations of $84.22 billion. During the same period in the prior year, the business posted $1.44 EPS. The firm’s quarterly revenue was up 13.6% on a year-over-year basis. As a group, analysts expect that Alphabet Inc. will post 7.62 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 9th will be given 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 payout ratio is currently 12.27%.

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.