Alphabet Inc. $GOOG is Chelsea Counsel Co.'s 3rd Largest Position

Key Points

• Chelsea Counsel Co. reduced its position in Alphabet Inc. by 3.8% in Q2, now holding 47,690 shares, which is approximately 4.2% of its portfolio, making it the firm’s third-largest position.
• Alphabet's quarterly earnings report revealed $2.31 earnings per share, surpassing estimates, alongside a revenue of $96.43 billion, reflecting a 13.8% year-over-year increase.
• The company declared a quarterly dividend of $0.21 per share, representing an annualized dividend yield of 0.3% and a dividend payout ratio of 8.95%.

Chelsea Counsel Co. reduced its position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 3.8% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 47,690 shares of the information services provider's stock after selling 1,900 shares during the period. Alphabet makes up approximately 4.2% of Chelsea Counsel Co.'s portfolio, making the stock its 3rd largest position. Chelsea Counsel Co.'s holdings in Alphabet were worth $8,460,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in GOOG. Robbins Farley increased its holdings in Alphabet by 60.0% in the second quarter. Robbins Farley now owns 160 shares of the information services provider's stock valued at $28,000 after buying an additional 60 shares in the last quarter. Principia Wealth Advisory LLC increased its holdings in Alphabet by 111.8% in the first quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock valued at $26,000 after buying an additional 85 shares in the last quarter. MorganRosel Wealth Management LLC purchased a new position in Alphabet in the first quarter valued at about $26,000. Greykasell Wealth Strategies Inc. purchased a new position in Alphabet in the first quarter valued at about $32,000. Finally, Goodman Advisory Group LLC purchased a new position in Alphabet in the first quarter valued at about $32,000. 27.26% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Up 0.0%

Shares of NASDAQ GOOG opened at $246.45 on Friday. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $256.70. The firm's 50 day moving average price is $221.89 and its 200 day moving average price is $187.01. The firm has a market cap of $2.98 trillion, a P/E ratio of 26.25, a price-to-earnings-growth ratio of 1.66 and a beta of 1.00. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90.

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 for the quarter, beating analysts' consensus estimates of $2.12 by $0.19. The company had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.67 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. Alphabet's revenue for the quarter was up 13.8% on a year-over-year basis. During the same quarter last year, the business earned $1.89 EPS. As a group, sell-side analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, September 8th. Alphabet's dividend payout ratio (DPR) is currently 8.95%.

Wall Street Analysts Forecast Growth

GOOG has been the subject of a number of research analyst reports. UBS Group increased their target price on shares of Alphabet from $186.00 to $192.00 and gave the company a "neutral" rating in a report on Wednesday, July 16th. Raymond James Financial reiterated an "outperform" rating and issued a $210.00 price target (up from $185.00) on shares of Alphabet in a research report on Thursday, July 24th. Cowen reiterated a "buy" rating on shares of Alphabet in a research report on Wednesday, July 9th. Lake Street Capital reiterated a "buy" rating on shares of Alphabet in a research report on Wednesday, July 9th. Finally, Roth Capital reiterated a "buy" rating on shares of Alphabet in a research report on Wednesday, July 9th. Five equities research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $235.33.

Insider Activity

In related news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $184.38, for a total transaction of $5,992,350.00. Following the sale, the chief executive officer owned 2,527,392 shares of the company's stock, valued at $466,000,536.96. The trade was a 1.27% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Kavitark Ram Shriram sold 18,566 shares of Alphabet stock in a transaction on Friday, July 18th. The stock was sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the sale, the director directly owned 243,400 shares in the company, valued at $45,213,984. This trade represents a 7.09% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 276,738 shares of company stock valued at $59,135,475. Company insiders own 12.99% of the company's stock.

About Alphabet

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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