Alphabet Inc. $GOOG Shares Sold by Yousif Capital Management LLC

Key Points

• Yousif Capital Management LLC reduced its stake in Alphabet Inc. by 1.3%, now holding approximately 579,777 shares worth $102.8 million.
• Multiple institutional investors increased their holdings in Alphabet, with Kingstone Capital Partners growing its position by 580,897.4% to over 135 million shares valued at approximately $24 billion.
• Alphabet's recent earnings report showed a significant rise in quarterly revenue to $96.43 billion, surpassing analyst expectations of $93.67 billion, with earnings per share of $2.31 versus the estimated $2.12.

Yousif Capital Management LLC cut its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 1.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 579,777 shares of the information services provider's stock after selling 7,511 shares during the quarter. Alphabet makes up approximately 1.1% of Yousif Capital Management LLC's portfolio, making the stock its 11th biggest position. Yousif Capital Management LLC's holdings in Alphabet were worth $102,847,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in GOOG. Kingstone Capital Partners Texas LLC grew its position in shares of 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 worth $23,963,208,000 after buying an additional 135,064,454 shares in the last quarter. Nuveen LLC acquired a new position in shares of Alphabet during the first quarter worth about $2,622,943,000. Vanguard Group Inc. lifted its stake in Alphabet by 2.4% during the first 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 last quarter. JPMorgan Chase & Co. lifted its stake 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 worth $15,971,861,000 after purchasing an additional 9,243,959 shares during the last quarter. Finally, Strs Ohio purchased a new stake in Alphabet during the first quarter worth approximately $369,713,000. 27.26% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on GOOG shares. Lake Street Capital restated a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. Pivotal Research boosted their target price on Alphabet from $245.00 to $300.00 and gave the stock a "buy" rating in a research note on Wednesday, September 3rd. BNP Paribas cut Alphabet from a "strong-buy" rating to a "hold" rating in a research note on Thursday, June 26th. Oppenheimer reiterated an "outperform" rating and issued a $270.00 price objective (up previously from $235.00) on shares of Alphabet in a research note on Wednesday, September 3rd. Finally, Roth Capital reiterated a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. Six analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Alphabet has an average rating of "Moderate Buy" and an average target price of $244.68.

Alphabet Trading Up 0.1%

Shares of GOOG stock opened at $251.88 on Friday. The business's fifty day moving average price is $231.15 and its 200 day moving average price is $192.08. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $257.58. The firm has a market capitalization of $3.05 trillion, a PE ratio of 26.82, a P/E/G ratio of 1.70 and a beta of 1.00. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90.

Alphabet (NASDAQ:GOOG - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping analysts' consensus estimates of $2.12 by $0.19. The firm 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%.Alphabet's quarterly revenue was up 13.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.89 earnings per share. As a group, sell-side analysts forecast 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 was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Monday, September 8th. Alphabet's dividend payout ratio is currently 8.95%.

Insiders Place Their Bets

In other news, insider John Kent Walker sold 17,816 shares of the company's stock in a transaction on Monday, September 29th. The stock was sold at an average price of $247.42, for a total value of $4,408,034.72. Following the sale, the insider directly owned 42,985 shares in the company, valued at $10,635,348.70. This represents a 29.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Amie Thuener O'toole sold 953 shares of the company's stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $241.20, for a total value of $229,863.60. Following the completion of the sale, the chief accounting officer owned 17,294 shares in the company, valued at $4,171,312.80. This represents a 5.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 210,872 shares of company stock valued at $46,980,865. Insiders own 12.99% of the company's stock.

Alphabet Company 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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