Capital Management Associates Inc decreased its holdings in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 52.9% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,601 shares of the information services provider’s stock after selling 5,159 shares during the period. Capital Management Associates Inc’s holdings in Alphabet were worth $816,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of Alphabet by 2.4% in the first quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider’s stock worth $64,299,725,000 after buying an additional 9,687,855 shares in the last quarter. Kingstone Capital Partners Texas LLC lifted its position in shares of Alphabet by 580,897.4% in the second quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider’s stock worth $23,963,208,000 after buying an additional 135,064,454 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Alphabet by 9.9% in the first quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider’s stock worth $15,971,861,000 after buying an additional 9,243,959 shares in the last quarter. Deutsche Bank AG lifted its position in shares of Alphabet by 5.4% in the first quarter. Deutsche Bank AG now owns 21,345,784 shares of the information services provider’s stock worth $3,334,852,000 after buying an additional 1,098,996 shares in the last quarter. Finally, Invesco Ltd. lifted its position in shares of Alphabet by 2.2% in the first quarter. Invesco Ltd. now owns 20,380,073 shares of the information services provider’s stock worth $3,183,979,000 after buying an additional 440,526 shares in the last quarter. Institutional investors own 27.26% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities research analysts recently commented on GOOG shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Alphabet in a research report on Wednesday. Cowen reiterated a “buy” rating on shares of Alphabet in a research report on Wednesday. UBS Group set a $255.00 target price on Alphabet and gave the stock a “neutral” rating in a research report on Thursday. Raymond James Financial restated an “outperform” rating and set a $210.00 price objective (up from $185.00) on shares of Alphabet in a research report on Thursday, July 24th. Finally, KeyCorp set a $265.00 price objective on Alphabet in a research report on Wednesday, September 3rd. Six research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Alphabet has an average rating of “Moderate Buy” and a consensus price target of $241.00.
Insiders Place Their Bets
In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $184.38, for a total transaction of $5,992,350.00. Following the transaction, the chief executive officer directly owned 2,527,392 shares in the company, valued at $466,000,536.96. This trade represents a 1.27% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Kavitark Ram Shriram sold 18,566 shares of the firm’s stock in a transaction on Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $3,448,820.16. Following the transaction, the director owned 243,400 shares in the company, valued at $45,213,984. The trade was a 7.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 276,738 shares of company stock worth $59,135,475 in the last ninety days. 12.99% of the stock is owned by company insiders.
Alphabet Trading Down 1.9%
Shares of GOOG stock opened at $237.49 on Friday. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $256.70. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The stock’s 50 day simple moving average is $226.97 and its two-hundred day simple moving average is $189.81. The company has a market cap of $2.87 trillion, a PE ratio of 25.29, a price-to-earnings-growth ratio of 1.60 and a beta of 1.00.
Alphabet (NASDAQ:GOOG – Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.12 by $0.19. The business had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.67 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The company’s quarterly revenue was up 13.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.89 earnings per share. Research analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current year.
Alphabet Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.4%. The ex-dividend date was Monday, September 8th. Alphabet’s dividend payout ratio (DPR) is presently 8.95%.
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.
See Also
- Five stocks we like better than Alphabet
- Compound Interest and Why It Matters When Investing
- Bassett Furniture: Buy Now, Sit Back, and Collect Dividends
- Best Aerospace Stocks Investing
- AST SpaceMobile’s Big Win: Shares Soar on New Deal With Verizon
- How to Read Stock Charts for Beginners
- Catch the Next Bitcoin Rally With These 3 ETFs
Want to see what other hedge funds are holding GOOG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOG – Free Report).
Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.