Alphabet Inc. $GOOG is Alpine Woods Capital Investors LLC's 6th Largest Position

Key Points

• Alpine Woods Capital Investors LLC decreased its holdings in Alphabet Inc. by 2.0%, making the stock its 6th largest position, worth approximately $10.67 million.
• Alphabet reported a quarterly earnings of $2.31 per share, exceeding analysts' expectations, with revenue of $96.43 billion, a 13.8% increase year-over-year.
• The company recently declared a quarterly dividend of $0.21 per share, resulting in an annualized yield of 0.3%, with a payout ratio of 8.95%.

Alpine Woods Capital Investors LLC cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 2.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 60,128 shares of the information services provider's stock after selling 1,198 shares during the quarter. Alphabet comprises approximately 2.5% of Alpine Woods Capital Investors LLC's investment portfolio, making the stock its 6th biggest position. Alpine Woods Capital Investors LLC's holdings in Alphabet were worth $10,666,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Brighton Jones LLC boosted its position in shares of Alphabet by 5.6% during the fourth quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider's stock worth $22,901,000 after buying an additional 6,410 shares during the period. Revisor Wealth Management LLC boosted its position in shares of Alphabet by 107.9% during the first quarter. Revisor Wealth Management LLC now owns 3,659 shares of the information services provider's stock worth $572,000 after buying an additional 1,899 shares during the period. GAMMA Investing LLC boosted its position in shares of Alphabet by 19.5% during the first quarter. GAMMA Investing LLC now owns 91,681 shares of the information services provider's stock worth $14,323,000 after buying an additional 14,931 shares during the period. JBR Co Financial Management Inc boosted its position in shares of Alphabet by 36.0% during the first quarter. JBR Co Financial Management Inc now owns 11,378 shares of the information services provider's stock worth $1,778,000 after buying an additional 3,014 shares during the period. Finally, Dunhill Financial LLC boosted its position in shares of Alphabet by 12.1% during the first quarter. Dunhill Financial LLC now owns 14,191 shares of the information services provider's stock worth $2,217,000 after buying an additional 1,537 shares during the period. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Stock Up 0.1%

Shares of NASDAQ GOOG opened at $251.88 on Friday. The company has a market capitalization of $3.05 trillion, a price-to-earnings ratio of 26.82, a price-to-earnings-growth ratio of 1.70 and a beta of 1.00. 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 business has a 50-day moving average of $231.15 and a two-hundred day moving average of $192.08. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $257.58.

Alphabet (NASDAQ:GOOG - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.12 by $0.19. The company had revenue of $96.43 billion during 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%.Alphabet's revenue for the quarter was up 13.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.89 EPS. On average, analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently declared 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 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Monday, September 8th. Alphabet's payout ratio is 8.95%.

Insider Activity at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $243.41, for a total transaction of $7,910,825.00. Following the sale, the chief executive officer owned 2,402,119 shares in the company, valued at approximately $584,699,785.79. The trade was a 1.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Amie Thuener O'toole sold 953 shares of Alphabet stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $241.20, for a total value of $229,863.60. Following the sale, the chief accounting officer owned 17,294 shares in the company, valued at $4,171,312.80. This trade represents a 5.22% decrease in their position. The disclosure for this sale can be found here. Insiders sold 210,872 shares of company stock worth $46,980,865 over the last three months. Company insiders own 12.99% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on GOOG. Mizuho upgraded Alphabet to a "strong-buy" rating in a research report on Monday, September 29th. JPMorgan Chase & Co. lifted their target price on Alphabet from $232.00 to $260.00 and gave the company an "overweight" rating in a report on Wednesday, September 3rd. Lake Street Capital reiterated a "buy" rating on shares of Alphabet in a report on Wednesday, July 9th. Robert W. Baird lifted their target price on Alphabet from $215.00 to $275.00 and gave the company an "outperform" rating in a report on Monday, September 22nd. Finally, Morgan Stanley lifted their target price on Alphabet from $210.00 to $270.00 and gave the company an "overweight" rating in a report on Thursday, October 2nd. Six analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $244.68.

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.

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