Symons Capital Management Inc. Trims Stake in Alphabet Inc. (GOOG)
Symons Capital Management Inc. decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,763 shares of the information services provider’s stock after selling 351 shares during the period. Alphabet makes up 3.7% of Symons Capital Management Inc.’s portfolio, making the stock its 10th biggest holding. Symons Capital Management Inc.’s holdings in Alphabet were worth $15,233,000 as of its most recent SEC filing.
Several other large investors have also bought and sold shares of the company. Perennial Advisors LLC boosted its holdings in shares of Alphabet by 8.7% in the second quarter. Perennial Advisors LLC now owns 3,232 shares of the information services provider’s stock worth $2,937,000 after buying an additional 260 shares during the period. Doyle Wealth Management boosted its holdings in shares of Alphabet by 6.7% in the second quarter. Doyle Wealth Management now owns 3,182 shares of the information services provider’s stock worth $2,891,000 after buying an additional 200 shares during the period. Carret Asset Management LLC boosted its holdings in shares of Alphabet by 1.5% in the first quarter. Carret Asset Management LLC now owns 9,982 shares of the information services provider’s stock worth $8,281,000 after buying an additional 145 shares during the period. Rothschild Investment Corp IL boosted its holdings in shares of Alphabet by 1.7% in the second quarter. Rothschild Investment Corp IL now owns 10,809 shares of the information services provider’s stock worth $9,823,000 after buying an additional 184 shares during the period. Finally, AKO Capital LLP boosted its holdings in shares of Alphabet by 6.8% in the second quarter. AKO Capital LLP now owns 51,624 shares of the information services provider’s stock worth $46,912,000 after buying an additional 3,289 shares during the period. Institutional investors own 34.28% of the company’s stock.
Alphabet Inc. (GOOG) opened at $1,032.50 on Friday. The stock has a market capitalization of $709,329.31, a price-to-earnings ratio of 34.18 and a beta of 0.95. Alphabet Inc. has a twelve month low of $737.02 and a twelve month high of $1,048.39. The company has a debt-to-equity ratio of 0.03, a quick ratio of 5.73 and a current ratio of 5.77.
Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Thursday, October 26th. The information services provider reported $9.57 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $8.31 by $1.26. The company had revenue of $27.77 billion during the quarter, compared to analysts’ expectations of $27.17 billion. Alphabet had a return on equity of 14.26% and a net margin of 20.09%. The business’s revenue was up 23.7% on a year-over-year basis. During the same period last year, the business earned $9.06 earnings per share.
In other Alphabet news, VP James Grier Campbell sold 183 shares of Alphabet stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $933.08, for a total transaction of $170,753.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sundar Pichai sold 4,000 shares of Alphabet stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $931.44, for a total value of $3,725,760.00. Following the transaction, the chief executive officer now directly owns 1,618 shares of the company’s stock, valued at $1,507,069.92. The disclosure for this sale can be found here. Over the last three months, insiders have sold 26,158 shares of company stock valued at $25,437,999. Company insiders own 13.92% of the company’s stock.
Several brokerages have commented on GOOG. BidaskClub upgraded shares of Alphabet from a “hold” rating to a “buy” rating in a report on Friday, August 25th. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating on shares of Alphabet in a report on Tuesday, July 25th. Canaccord Genuity reiterated a “hold” rating and issued a $1,000.00 target price on shares of Alphabet in a report on Thursday, July 27th. Royal Bank Of Canada reissued a “buy” rating on shares of Alphabet in a research report on Friday, October 27th. Finally, B. Riley reissued a “buy” rating and issued a $1,050.00 price target (up from $1,032.00) on shares of Alphabet in a research report on Thursday, July 27th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and thirty-nine have assigned a buy rating to the company. Alphabet presently has an average rating of “Buy” and a consensus price target of $1,047.52.
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Alphabet Company Profile
Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.
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