Edmond DE Rothschild Holding S.A. Sells 24,296 Shares of Alphabet Inc. $GOOG

Key Points

• Edmond DE Rothschild Holding S.A. reduced its stake in Alphabet Inc. by 8.8%, selling 24,296 shares, and now holds shares valued at $39.4 million.
• Alphabet's quarterly earnings exceeded expectations, with a reported EPS of $2.31 and revenue of $96.43 billion, representing a year-over-year increase of 13.8%.
• The company has announced a $0.21 per share dividend, to be paid on September 15th, with a current dividend yield of 0.4%.

Edmond DE Rothschild Holding S.A. decreased its holdings in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 8.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 252,054 shares of the information services provider's stock after selling 24,296 shares during the quarter. Edmond DE Rothschild Holding S.A.'s holdings in Alphabet were worth $39,378,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its position in Alphabet by 5.6% during the fourth quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider's stock valued at $22,901,000 after buying an additional 6,410 shares during the period. Bank Pictet & Cie Europe AG lifted its position in Alphabet by 4.3% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 506,535 shares of the information services provider's stock valued at $96,465,000 after buying an additional 20,855 shares during the period. Colonial Trust Co SC lifted its position in Alphabet by 2.9% during the fourth quarter. Colonial Trust Co SC now owns 30,229 shares of the information services provider's stock valued at $5,757,000 after buying an additional 857 shares during the period. Collar Capital Management LLC purchased a new position in Alphabet during the fourth quarter valued at $2,993,000. Finally, Eagle Global Advisors LLC lifted its position in Alphabet by 4.5% during the fourth quarter. Eagle Global Advisors LLC now owns 224,471 shares of the information services provider's stock valued at $42,748,000 after buying an additional 9,588 shares during the period. Hedge funds and other institutional investors own 27.26% of the company's stock.

Insiders Place Their Bets

In related news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $229.73, for a total value of $7,466,225.00. Following the completion of the sale, the chief executive officer directly owned 2,429,892 shares in the company, valued at approximately $558,219,089.16. This trade represents a 1.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John Kent Walker sold 23,820 shares of Alphabet stock in a transaction dated 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 owned 42,999 shares of the company's stock, valued at $8,371,905.30. The trade was a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 254,710 shares of company stock valued at $49,208,380 over the last quarter. Corporate insiders own 12.99% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Scotiabank raised their price objective on Alphabet from $200.00 to $240.00 and gave the company a "sector outperform" rating in a research report on Tuesday, July 22nd. Oppenheimer reissued an "outperform" rating and set a $270.00 price objective (up previously from $235.00) on shares of Alphabet in a research report on Wednesday. Piper Sandler reissued a "neutral" rating on shares of Alphabet in a research report on Wednesday, July 9th. Citizens Jmp upgraded Alphabet from a "hold" rating to a "strong-buy" rating in a report on Thursday, June 26th. Finally, Raymond James Financial restated an "outperform" rating and set a $210.00 price target (up from $185.00) on shares of Alphabet in a report on Thursday, July 24th. Five equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, Alphabet has a consensus rating of "Moderate Buy" and an average target price of $227.56.

Alphabet Stock Up 1.1%

Shares of NASDAQ:GOOG traded up $2.51 on Friday, hitting $235.17. 26,091,032 shares of the company traded hands, compared to its average volume of 21,868,892. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $236.13. 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 stock has a 50 day simple moving average of $196.65 and a 200-day simple moving average of $176.82. The company has a market cap of $2.84 trillion, a PE ratio of 25.04, a PEG ratio of 1.58 and a beta of 1.01.

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

Alphabet Dividend Announcement

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 annualized dividend and a yield of 0.4%. The ex-dividend date is Monday, September 8th. Alphabet's dividend payout ratio (DPR) is presently 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.