Alphabet Inc. $GOOG Holdings Reduced by Staley Capital Advisers Inc.

Staley Capital Advisers Inc. trimmed its holdings in Alphabet Inc. (NASDAQ:GOOGFree Report) by 3.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 594,191 shares of the information services provider’s stock after selling 19,014 shares during the quarter. Alphabet accounts for approximately 7.7% of Staley Capital Advisers Inc.’s investment portfolio, making the stock its 3rd biggest holding. Staley Capital Advisers Inc.’s holdings in Alphabet were worth $186,457,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in GOOG. Ring Mountain Capital LLC raised its position in Alphabet by 0.9% during the fourth quarter. Ring Mountain Capital LLC now owns 3,554 shares of the information services provider’s stock worth $1,174,000 after acquiring an additional 30 shares in the last quarter. Cannon Financial Strategists Inc. raised its position in Alphabet by 1.9% during the fourth quarter. Cannon Financial Strategists Inc. now owns 1,589 shares of the information services provider’s stock worth $499,000 after acquiring an additional 30 shares in the last quarter. HRC Wealth Management LLC raised its position in Alphabet by 1.0% during the fourth quarter. HRC Wealth Management LLC now owns 3,231 shares of the information services provider’s stock worth $1,014,000 after acquiring an additional 31 shares in the last quarter. Certior Financial Group LLC raised its position in Alphabet by 3.5% during the fourth quarter. Certior Financial Group LLC now owns 919 shares of the information services provider’s stock worth $288,000 after acquiring an additional 31 shares in the last quarter. Finally, Avaii Wealth Management LLC raised its position in Alphabet by 2.3% during the fourth quarter. Avaii Wealth Management LLC now owns 1,437 shares of the information services provider’s stock worth $451,000 after acquiring an additional 32 shares in the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Alphabet Price Performance

NASDAQ:GOOG opened at $384.84 on Wednesday. Alphabet Inc. has a one year low of $163.33 and a one year high of $404.47. The company has a market cap of $4.66 trillion, a P/E ratio of 29.35, a P/E/G ratio of 1.62 and a beta of 1.25. The firm’s fifty day moving average price is $338.73 and its two-hundred day moving average price is $322.49. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.92 and a quick ratio of 1.92.

Alphabet (NASDAQ:GOOGGet Free Report) last released its quarterly earnings results on Thursday, April 30th. The information services provider reported $5.11 EPS for the quarter, topping analysts’ consensus estimates of $2.68 by $2.43. The business had revenue of $109.90 billion for the quarter, compared to analyst estimates of $106.96 billion. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. Alphabet’s revenue for the quarter was up 21.8% compared to the same quarter last year. During the same period last year, the firm earned $2.81 earnings per share. Equities analysts expect that Alphabet Inc. will post 14.29 earnings per share for the current year.

Alphabet Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 8th will be issued a dividend of $0.22 per share. This is a boost from Alphabet’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend is Monday, June 8th. Alphabet’s payout ratio is 6.71%.

Insider Buying and Selling

In other news, insider John Kent Walker sold 8,993 shares of Alphabet stock in a transaction that occurred on Friday, March 27th. The shares were sold at an average price of $275.89, for a total value of $2,481,078.77. Following the completion of the sale, the insider directly owned 51,808 shares in the company, valued at approximately $14,293,309.12. The trade was a 14.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John L. Hennessy sold 1,050 shares of Alphabet stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $393.26, for a total transaction of $412,923.00. Following the completion of the sale, the director owned 2,531 shares of the company’s stock, valued at approximately $995,341.06. The trade was a 29.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 226,481 shares of company stock valued at $27,422,061 in the last quarter. Corporate insiders own 12.99% of the company’s stock.

Alphabet News Roundup

Here are the key news stories impacting Alphabet this week:

Analysts Set New Price Targets

Several equities analysts have commented on GOOG shares. DZ Bank upgraded shares of Alphabet to a “strong-buy” rating in a report on Monday, February 16th. Wedbush reiterated an “outperform” rating and issued a $370.00 price objective on shares of Alphabet in a report on Thursday, February 5th. Sanford C. Bernstein reiterated a “market perform” rating and issued a $345.00 price objective on shares of Alphabet in a report on Thursday, February 5th. Wells Fargo & Company upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a report on Monday, February 23rd. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Alphabet in a report on Monday, April 20th. Six equities research analysts have rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $372.65.

Check Out Our Latest Report on GOOG

Alphabet Company Profile

(Free Report)

Alphabet Inc (NASDAQ: GOOG) is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as “Other Bets.” Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company’s history.

Alphabet’s core business centers on internet search and advertising, with Google Search and the company’s ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.

Further Reading

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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