Alphabet Inc. $GOOG Stock Holdings Cut by Crow s Nest Holdings LP

Key Points

• Crow s Nest Holdings LP has reduced its stake in Alphabet Inc. by 14.1%, now holding 176,000 shares, making it the firm's 8th largest position at about 6.8% of its portfolio.
• Alphabet's quarterly earnings exceeded expectations with a reported EPS of $2.31 versus the anticipated $2.12 and a revenue of $96.43 billion, up 13.8% year-over-year.
• A quarterly dividend of $0.21 has been announced by Alphabet, to be paid on September 15th, with a yield of 0.4% based on the annualized payout.

Crow s Nest Holdings LP decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 14.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 176,000 shares of the information services provider's stock after selling 29,000 shares during the quarter. Alphabet makes up 6.8% of Crow s Nest Holdings LP's holdings, making the stock its 8th biggest position. Crow s Nest Holdings LP's holdings in Alphabet were worth $27,496,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in Alphabet by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider's stock valued at $64,299,725,000 after purchasing an additional 9,687,855 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Alphabet by 9.9% during the 1st quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider's stock valued at $15,971,861,000 after purchasing an additional 9,243,959 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Alphabet by 2.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 34,103,417 shares of the information services provider's stock valued at $6,494,655,000 after purchasing an additional 769,335 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in Alphabet by 5.0% during the 4th quarter. Janus Henderson Group PLC now owns 30,827,999 shares of the information services provider's stock valued at $5,870,944,000 after purchasing an additional 1,467,805 shares during the last quarter. Finally, Deutsche Bank AG lifted its holdings in Alphabet by 5.4% during the 1st quarter. Deutsche Bank AG now owns 21,345,784 shares of the information services provider's stock valued at $3,334,852,000 after purchasing an additional 1,098,996 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company's stock.

Analyst Upgrades and Downgrades

GOOG has been the subject of a number of research reports. Raymond James Financial reissued an "outperform" rating and set a $210.00 target price (up previously from $185.00) on shares of Alphabet in a report on Thursday, July 24th. JPMorgan Chase & Co. lifted their target price on Alphabet from $232.00 to $260.00 and gave the stock an "overweight" rating in a report on Wednesday. Lake Street Capital reissued a "buy" rating on shares of Alphabet in a report on Wednesday, July 9th. Piper Sandler reissued a "neutral" rating on shares of Alphabet in a report on Wednesday, July 9th. Finally, UBS Group lifted their target price on Alphabet from $186.00 to $192.00 and gave the stock a "neutral" rating in a report on Wednesday, July 16th. Five equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, six have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, Alphabet currently has an average rating of "Moderate Buy" and a consensus price target of $227.56.

Insider Buying and Selling at Alphabet

In related news, Director John L. Hennessy sold 1,000 shares of the firm's stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $200.00, for a total value of $200,000.00. Following the completion of the transaction, the director owned 6,916 shares in the company, valued at $1,383,200. This trade represents a 12.63% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kavitark Ram Shriram sold 18,566 shares of the firm's stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the completion of the transaction, the director owned 243,400 shares of the company's stock, valued at approximately $45,213,984. This trade represents a 7.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 254,710 shares of company stock worth $49,208,380 in the last 90 days. Corporate insiders own 12.99% of the company's stock.

Alphabet Price Performance

NASDAQ GOOG traded up $2.51 during trading on Friday, hitting $235.17. 26,091,032 shares of the company's stock were exchanged, compared to its average volume of 21,868,892. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The company has a market cap of $2.84 trillion, a PE ratio of 25.04, a P/E/G ratio of 1.58 and a beta of 1.01. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $236.13. The stock's 50 day moving average price is $196.65 and its two-hundred day moving average price is $176.82.

Alphabet (NASDAQ:GOOG - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping the consensus estimate of $2.12 by $0.19. The firm 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%.The business's quarterly revenue was up 13.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.89 earnings per share. Research analysts expect that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Announces Dividend

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