Alphabet Inc. $GOOG is Goldstream Capital Management Ltd's 8th Largest Position

Key Points

• Goldstream Capital Management Ltd reduced its stake in Alphabet Inc. by 40.9%, holding 51,993 shares, making it the firm's 8th largest position worth approximately $8.12 million.
• Other institutional investors, such as Vanguard Group, JPMorgan Chase, and Northern Trust, increased their positions in Alphabet during the first quarter, highlighting significant interest from hedge funds.
• Alphabet recently declared a quarterly dividend of $0.21 per share, which represents a yield of 0.4% and a payout ratio of 8.95%.

Goldstream Capital Management Ltd cut its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 40.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,993 shares of the information services provider's stock after selling 35,993 shares during the quarter. Alphabet comprises 3.6% of Goldstream Capital Management Ltd's investment portfolio, making the stock its 8th biggest position. Goldstream Capital Management Ltd's holdings in Alphabet were worth $8,123,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Alphabet by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider's stock worth $64,299,725,000 after acquiring an additional 9,687,855 shares during the last quarter. JPMorgan Chase & Co. raised its position in Alphabet by 9.9% during the first 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 in the last quarter. Northern Trust Corp raised its position in Alphabet by 16.1% during the fourth quarter. Northern Trust Corp now owns 57,098,042 shares of the information services provider's stock valued at $10,873,751,000 after purchasing an additional 7,917,625 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Alphabet by 2.3% during the fourth 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 worth $6,494,655,000 after purchasing an additional 769,335 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in shares of Alphabet by 5.0% in the 4th quarter. Janus Henderson Group PLC now owns 30,827,999 shares of the information services provider's stock worth $5,870,944,000 after purchasing an additional 1,467,805 shares in the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Alphabet

In other news, Director John L. Hennessy sold 1,000 shares of the business's stock in a transaction on Friday, August 8th. The shares were sold at an average price of $200.00, for a total transaction of $200,000.00. Following the completion of the sale, the director owned 6,916 shares of the company's stock, valued at $1,383,200. The trade was a 12.63% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Kavitark Ram Shriram sold 18,566 shares of the company's stock in a transaction on Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $3,448,820.16. Following the completion of the sale, the director owned 243,400 shares of the company's stock, valued at $45,213,984. This trade represents a 7.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 222,219 shares of company stock worth $40,725,772. 12.99% of the stock is owned by insiders.

Alphabet Price Performance

Shares of GOOG opened at $200.19 on Thursday. The firm has a fifty day simple moving average of $186.62 and a two-hundred day simple moving average of $174.88. The firm has a market cap of $2.42 trillion, a PE ratio of 21.32, a P/E/G ratio of 1.37 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 $208.70.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its 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 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 was up 13.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.89 earnings per share. On average, equities analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Announces Dividend

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

Analyst Ratings Changes

Several analysts have issued reports on GOOG shares. JPMorgan Chase & Co. upped their target price on Alphabet from $200.00 to $232.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. BNP Paribas downgraded shares of Alphabet from a "strong-buy" rating to a "hold" rating in a research note on Thursday, June 26th. UBS Group lifted their price target on Alphabet from $186.00 to $192.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 16th. Oppenheimer reissued an "outperform" rating and set a $235.00 price objective (up previously from $220.00) on shares of Alphabet in a research note on Thursday, July 24th. Finally, Citigroup reaffirmed a "sell" rating on shares of Alphabet in a research note on Wednesday, April 23rd. Five research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $215.19.

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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