Alphabet Inc. $GOOG Position Decreased by Founders Capital Management LLC

Key Points

• Founders Capital Management LLC reduced its stake in Alphabet Inc. by 1.0%, owning 451,790 shares valued at $80.14 million, which represents 13.7% of its portfolio.
• Alphabet's recent earnings report showed $2.31 earnings per share, exceeding estimates, with quarterly revenue of $96.43 billion, a 13.8% increase from last year.
• The company announced a quarterly dividend of $0.21 per share, translating to an annualized dividend yield of 0.3%, with a payout ratio of 8.95%.

Founders Capital Management LLC cut its holdings in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 1.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 451,790 shares of the information services provider's stock after selling 4,587 shares during the period. Alphabet comprises approximately 13.7% of Founders Capital Management LLC's portfolio, making the stock its biggest holding. Founders Capital Management LLC's holdings in Alphabet were worth $80,143,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of GOOG. Kingstone Capital Partners Texas LLC grew its position in Alphabet by 580,897.4% during the second quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider's stock valued at $23,963,208,000 after buying an additional 135,064,454 shares during the period. Nuveen LLC bought a new position in shares of Alphabet during the 1st quarter valued at approximately $2,622,943,000. GAMMA Investing LLC increased its stake in shares of Alphabet by 18,562.3% during the 1st quarter. GAMMA Investing LLC now owns 14,323,323 shares of the information services provider's stock worth $2,237,733,000 after purchasing an additional 14,246,573 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Alphabet by 2.4% in 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 purchasing an additional 9,687,855 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in shares of Alphabet by 9.9% in the 1st quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider's stock worth $15,971,861,000 after purchasing an additional 9,243,959 shares during the period. 27.26% of the stock is currently owned by institutional investors.

Alphabet Price Performance

Shares of NASDAQ:GOOG opened at $252.88 on Tuesday. The company's fifty day moving average price is $211.48 and its 200-day moving average price is $182.24. 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 firm has a market capitalization of $3.06 trillion, a price-to-earnings ratio of 26.93, a PEG ratio of 1.72 and a beta of 1.01. Alphabet Inc. has a one year low of $142.66 and a one year high of $256.70.

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

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were given a dividend of $0.21 per share. The ex-dividend date was Monday, September 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. Alphabet's dividend payout ratio is 8.95%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on GOOG. Robert W. Baird raised their target price on Alphabet from $215.00 to $275.00 and gave the stock an "outperform" rating in a research report on Monday. Raymond James Financial reiterated an "outperform" rating and set a $210.00 price target (up previously from $185.00) on shares of Alphabet in a research note on Thursday, July 24th. Pivotal Research boosted their price objective on Alphabet from $245.00 to $300.00 and gave the company a "buy" rating in a research note on Wednesday, September 3rd. Roth Capital reaffirmed a "buy" rating on shares of Alphabet in a report on Wednesday, July 9th. Finally, Barclays reiterated a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. Four research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, five have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, Alphabet has an average rating of "Moderate Buy" and an average price target of $230.35.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O'toole sold 2,778 shares of the business's stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $245.00, for a total value of $680,610.00. Following the completion of the sale, the chief accounting officer owned 17,293 shares in the company, valued at $4,236,785. The trade was a 13.84% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider John Kent Walker sold 23,820 shares of the company's stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $194.70, for a total value of $4,637,754.00. Following the completion of the sale, the insider directly owned 42,999 shares of the company's stock, valued at approximately $8,371,905.30. This represents a 35.65% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 258,088 shares of company stock valued at $52,405,304. 12.99% of the stock is currently owned by corporate 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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