Alphabet Inc. $GOOG is Route One Investment Company L.P.'s 7th Largest Position

Key Points

• Route One Investment Company L.P. has reduced its holdings in Alphabet Inc. by 12.3%, making Alphabet its 7th largest position with approximately 4.9% of its portfolio.
• Alphabet's recent quarterly earnings beat estimates, reporting $2.31 EPS and $96.43 billion in revenue, marking a 13.8% year-over-year increase.
• The company announced a quarterly dividend of $0.21 per share, scheduled for payment on September 15th, reflecting an annualized yield of 0.4%.

Route One Investment Company L.P. decreased its holdings in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 12.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 745,380 shares of the information services provider's stock after selling 105,000 shares during the quarter. Alphabet comprises approximately 4.9% of Route One Investment Company L.P.'s portfolio, making the stock its 7th biggest holding. Route One Investment Company L.P.'s holdings in Alphabet were worth $116,451,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Principia Wealth Advisory LLC raised its position in Alphabet by 111.8% in the first quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock worth $26,000 after acquiring an additional 85 shares in the last quarter. MorganRosel Wealth Management LLC purchased a new position in Alphabet in the first quarter worth $26,000. Greykasell Wealth Strategies Inc. purchased a new position in Alphabet in the first quarter worth $32,000. Goodman Advisory Group LLC purchased a new position in Alphabet in the first quarter worth $32,000. Finally, Elevate Wealth Advisory Inc. purchased a new position in Alphabet in the first quarter worth $34,000. Hedge funds and other institutional investors own 27.26% of the company's stock.

Alphabet Stock Up 1.1%

GOOG opened at $235.17 on Friday. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The firm has a market cap of $2.84 trillion, a P/E ratio of 25.04, a PEG ratio of 1.57 and a beta of 1.01. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $236.13. The business's fifty day simple moving average is $196.65 and its 200 day simple moving average is $176.89.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating analysts' consensus estimates of $2.12 by $0.19. The business had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.67 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The business's revenue for the quarter was up 13.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.89 earnings per share. As a group, equities research analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Dividend Announcement

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

Analysts Set New Price Targets

Several research analysts have issued reports on GOOG shares. Citizens Jmp upgraded Alphabet from a "hold" rating to a "strong-buy" rating in a research report on Thursday, June 26th. Cowen reissued a "buy" rating on shares of Alphabet in a report on Wednesday, July 9th. Raymond James Financial reissued an "outperform" rating and issued a $210.00 target price (up previously from $185.00) on shares of Alphabet in a report on Thursday, July 24th. The Goldman Sachs Group reissued a "buy" rating and issued a $220.00 target price on shares of Alphabet in a report on Monday, June 2nd. Finally, KeyCorp set a $265.00 target price on Alphabet in a report on Wednesday. Five equities 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. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $227.56.

Insider Buying and Selling

In related news, Director Kavitark Ram Shriram sold 15,000 shares of the stock in a transaction on 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 owned 240,400 shares of the company's stock, valued at $44,656,704. This trade represents a 5.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John L. Hennessy sold 600 shares of the stock in a transaction 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 directly owned 6,316 shares in the company, valued at approximately $1,287,137.64. The trade was a 8.68% decrease in their position. The disclosure for this sale can be found here. Insiders sold 254,710 shares of company stock worth $49,208,380 in the last ninety days. 12.99% of the stock is currently owned by insiders.

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.

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