Alphabet Inc. $GOOG Holdings Trimmed by Walter Public Investments Inc.

Key Points

• Walter Public Investments Inc. reduced its stake in Alphabet Inc. by 1.2%, now holding 159,673 shares worth approximately $28.3 million, making Alphabet its 3rd largest holding.
• Alphabet reported a 13.8% increase in revenue year-over-year, with a quarterly earnings per share of $2.31, surpassing analyst expectations of $2.12.
• The company declared a quarterly dividend of $0.21 per share, representing an annualized yield of 0.3% and a payout ratio of 8.95%.

Walter Public Investments Inc. decreased its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 1.2% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 159,673 shares of the information services provider's stock after selling 1,950 shares during the period. Alphabet accounts for 4.8% of Walter Public Investments Inc.'s investment portfolio, making the stock its 3rd biggest position. Walter Public Investments Inc.'s holdings in Alphabet were worth $28,324,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. Independence Bank of Kentucky increased its holdings in shares of Alphabet by 10.2% in the first quarter. Independence Bank of Kentucky now owns 14,907 shares of the information services provider's stock valued at $2,329,000 after purchasing an additional 1,376 shares in the last quarter. RDA Financial Network increased its stake in Alphabet by 5.3% in the second quarter. RDA Financial Network now owns 11,094 shares of the information services provider's stock valued at $1,968,000 after purchasing an additional 554 shares in the last quarter. Fermata Advisors LLC boosted its holdings in Alphabet by 2.7% during the first quarter. Fermata Advisors LLC now owns 9,771 shares of the information services provider's stock worth $1,527,000 after purchasing an additional 259 shares during the last quarter. jvl associates llc raised its position in shares of Alphabet by 3.5% in the first quarter. jvl associates llc now owns 10,055 shares of the information services provider's stock valued at $1,571,000 after purchasing an additional 343 shares during the period. Finally, Members Trust Co increased its holdings in shares of Alphabet by 84.7% in the 1st quarter. Members Trust Co now owns 4,999 shares of the information services provider's stock worth $781,000 after buying an additional 2,292 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company's stock.

Alphabet Stock Performance

GOOG stock traded down $2.36 during mid-day trading on Monday, hitting $252.88. 20,038,778 shares of the company were exchanged, compared to its average volume of 25,284,148. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $256.70. The stock has a market capitalization of $3.06 trillion, a PE ratio of 26.93, a price-to-earnings-growth ratio of 1.72 and a beta of 1.01. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The business has a 50 day simple moving average of $211.48 and a 200-day simple moving average of $182.24.

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

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Wells Fargo & Company reissued an "equal weight" rating on shares of Alphabet in a report on Wednesday, July 9th. UBS Group increased their price objective on Alphabet from $186.00 to $192.00 and gave the company a "neutral" rating in a research note on Wednesday, July 16th. Roth Capital reiterated a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. BNP Paribas downgraded Alphabet from a "strong-buy" rating to a "hold" rating in a research note on Thursday, June 26th. Finally, Raymond James Financial reiterated an "outperform" rating and issued a $210.00 target price (up from $185.00) on shares of Alphabet in a research note on Thursday, July 24th. Four investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, five have issued a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $230.35.

Insider Buying and Selling at Alphabet

In other Alphabet news, insider John Kent Walker sold 23,820 shares of the stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $194.70, for a total value of $4,637,754.00. Following the transaction, the insider directly owned 42,999 shares in the company, valued at approximately $8,371,905.30. This trade represents a 35.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $229.73, for a total transaction of $7,466,225.00. Following the completion of the transaction, the chief executive officer directly owned 2,429,892 shares of the company's stock, valued at $558,219,089.16. The trade was a 1.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 258,088 shares of company stock valued at $52,405,304 over the last three months. Insiders own 12.99% of the company's stock.

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.