Alphabet Inc. $GOOG Shares Sold by Academy Capital Management

Key Points

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Academy Capital Management cut its holdings in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 3.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 225,509 shares of the information services provider's stock after selling 7,023 shares during the quarter. Alphabet accounts for approximately 6.1% of Academy Capital Management's investment portfolio, making the stock its 8th largest position. Academy Capital Management's holdings in Alphabet were worth $35,231,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. JT Stratford LLC lifted its position in Alphabet by 5.4% in the first quarter. JT Stratford LLC now owns 3,357 shares of the information services provider's stock worth $524,000 after buying an additional 173 shares during the last quarter. Andina Capital Management LLC bought a new stake in shares of Alphabet during the first quarter worth $250,000. Texas Capital Bank Wealth Management Services Inc lifted its position in shares of Alphabet by 38.1% during the first quarter. Texas Capital Bank Wealth Management Services Inc now owns 13,273 shares of the information services provider's stock worth $2,074,000 after purchasing an additional 3,665 shares during the last quarter. Maven Securities LTD increased its stake in shares of Alphabet by 167.6% during the first quarter. Maven Securities LTD now owns 33,436 shares of the information services provider's stock valued at $5,224,000 after buying an additional 20,939 shares during the period. Finally, Laraway Financial Advisors Inc increased its stake in shares of Alphabet by 9.9% during the first quarter. Laraway Financial Advisors Inc now owns 7,225 shares of the information services provider's stock valued at $1,129,000 after buying an additional 651 shares during the period. 27.26% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Kavitark Ram Shriram sold 15,000 shares of the firm's stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $185.76, for a total transaction of $2,786,400.00. Following the sale, the director directly owned 240,400 shares in the company, valued at approximately $44,656,704. This trade represents a 5.87% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John L. Hennessy sold 600 shares of the firm's stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $203.79, for a total value of $122,274.00. Following the sale, the director owned 6,316 shares of the company's stock, valued at approximately $1,287,137.64. This trade represents a 8.68% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 254,719 shares of company stock valued at $47,223,172. Corporate insiders own 12.99% of the company's stock.

Alphabet Trading Up 3.0%

Shares of Alphabet stock traded up $6.10 during trading hours on Friday, reaching $206.72. The stock had a trading volume of 25,563,233 shares, compared to its average volume of 23,714,121. The firm has a 50 day simple moving average of $187.09 and a two-hundred day simple moving average of $174.87. The firm has a market capitalization of $2.50 trillion, a price-to-earnings ratio of 22.01, a P/E/G ratio of 1.35 and a beta of 1.02. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $209.23.

Alphabet (NASDAQ:GOOG - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating the consensus estimate 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 revenue was up 13.8% on a year-over-year basis. During the same period last year, the business posted $1.89 EPS. As a group, equities research analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Monday, September 8th. Alphabet's dividend payout ratio (DPR) is presently 8.95%.

Analyst Ratings Changes

GOOG has been the topic of several analyst reports. Roth Capital reiterated a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. Tigress Financial restated a "strong-buy" rating on shares of Alphabet in a research report on Friday, May 2nd. Oppenheimer reiterated an "outperform" rating and set a $235.00 target price (up previously from $220.00) on shares of Alphabet in a research report on Thursday, July 24th. Lake Street Capital reaffirmed a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. Finally, Wells Fargo & Company restated an "equal weight" rating on shares of Alphabet in a report on Wednesday, July 9th. Five research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, six have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, Alphabet currently has a consensus rating of "Moderate Buy" and an average target price of $215.19.

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.