Alphabet Inc. $GOOG Shares Sold by Robertson Opportunity Capital LLC

Key Points

• Robertson Opportunity Capital LLC has reduced its stake in Alphabet Inc. by 11.7%, now holding 102,000 shares valued at approximately $15.94 million, making it the firm's 6th largest holding.
• Alphabet recently posted quarterly earnings of $2.31 EPS, surpassing expectations and reflecting a 13.8% increase in revenue year-over-year.
• The company will pay a quarterly dividend of $0.21 on September 15th, representing a 0.4% yield and a payout ratio of 8.95%.

Robertson Opportunity Capital LLC reduced its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 11.7% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 102,000 shares of the information services provider's stock after selling 13,500 shares during the period. Alphabet accounts for approximately 6.0% of Robertson Opportunity Capital LLC's investment portfolio, making the stock its 6th largest holding. Robertson Opportunity Capital LLC's holdings in Alphabet were worth $15,935,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Principia Wealth Advisory LLC boosted its stake in Alphabet by 111.8% in the first quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock valued at $26,000 after acquiring an additional 85 shares during the last quarter. MorganRosel Wealth Management LLC bought a new position in Alphabet in the first quarter valued at approximately $26,000. Greykasell Wealth Strategies Inc. bought a new position in Alphabet in the first quarter valued at approximately $32,000. Goodman Advisory Group LLC bought a new position in Alphabet in the first quarter valued at approximately $32,000. Finally, Elevate Wealth Advisory Inc. bought a new position in Alphabet in the first quarter valued at approximately $34,000. 27.26% of the stock is owned by institutional investors and hedge funds.

Alphabet Trading Up 1.1%

GOOG opened at $235.17 on Friday. The stock has a market capitalization of $2.84 trillion, a P/E ratio of 25.04, a P/E/G ratio of 1.57 and a beta of 1.01. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $236.13. The firm's fifty day simple moving average is $196.65 and its 200 day simple moving average is $176.89. 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 (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 the consensus estimate of $2.12 by $0.19. The business had revenue of $96.43 billion for the quarter, compared to analysts' expectations of $93.67 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The firm's revenue was up 13.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.89 EPS. As a group, research analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Announces Dividend

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 given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet's payout ratio is currently 8.95%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Citizens Jmp raised shares of Alphabet from a "hold" rating to a "strong-buy" rating in a research note on Thursday, June 26th. Piper Sandler reaffirmed a "neutral" rating on shares of Alphabet in a research note on Wednesday, July 9th. KeyCorp set a $265.00 price objective on shares of Alphabet in a research note on Wednesday. Scotiabank raised their price objective on shares of Alphabet from $200.00 to $240.00 and gave the company a "sector outperform" rating in a research note on Tuesday, July 22nd. Finally, Pivotal Research increased their target price on shares of Alphabet from $245.00 to $300.00 and gave the stock a "buy" rating in a report on Wednesday. Five analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $227.56.

Insider Activity at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $229.73, for a total value of $7,466,225.00. Following the sale, the chief executive officer directly owned 2,429,892 shares in the company, valued at approximately $558,219,089.16. The trade was a 1.32% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kavitark Ram Shriram sold 15,000 shares of Alphabet stock in a transaction on Friday, July 18th. The shares were sold at an average price of $185.76, for a total transaction of $2,786,400.00. Following the completion of the sale, the director owned 240,400 shares in the company, valued at $44,656,704. The trade was a 5.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 254,710 shares of company stock valued at $49,208,380. 12.99% of the stock is 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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