Alphabet Inc. $GOOG Stock Position Cut by Schwerin Boyle Capital Management Inc.

Key Points

• Schwerin Boyle Capital Management Inc. reduced its stake in Alphabet Inc. by 0.8%, now holding 259,235 shares valued at approximately $40.5 million, which constitutes 4.2% of its portfolio.
• Notable institutional investors such as Nuveen LLC and GAMMA Investing LLC significantly increased their positions in Alphabet, with GAMMA boosting its stake by over 18,000% in the first quarter.
• Alphabet recently announced a quarterly dividend of $0.21 per share, reflecting an annualized dividend of $0.84, with a payout ratio of 8.95%.

Schwerin Boyle Capital Management Inc. cut its holdings in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 0.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 259,235 shares of the information services provider's stock after selling 2,120 shares during the period. Alphabet accounts for 4.2% of Schwerin Boyle Capital Management Inc.'s portfolio, making the stock its 5th largest holding. Schwerin Boyle Capital Management Inc.'s holdings in Alphabet were worth $40,500,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Nuveen LLC purchased a new position in shares of Alphabet in the first quarter valued at $2,622,943,000. GAMMA Investing LLC boosted its position in shares of Alphabet by 18,562.3% during the first quarter. GAMMA Investing LLC now owns 14,323,323 shares of the information services provider's stock valued at $2,237,733,000 after buying an additional 14,246,573 shares during the period. Vanguard Group Inc. lifted its stake in shares of Alphabet by 2.4% during 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 acquiring an additional 9,687,855 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Alphabet by 9.9% in 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 period. Finally, Northern Trust Corp grew its holdings in shares of Alphabet by 16.1% in the fourth quarter. Northern Trust Corp now owns 57,098,042 shares of the information services provider's stock worth $10,873,751,000 after purchasing an additional 7,917,625 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company's stock.

Alphabet Trading Up 3.0%

Shares of Alphabet stock opened at $206.72 on Monday. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $209.23. 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 stock has a market cap of $2.50 trillion, a PE ratio of 22.01, a price-to-earnings-growth ratio of 1.39 and a beta of 1.02. The firm has a fifty day moving average price of $187.71 and a 200 day moving average price of $174.60.

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

Alphabet Dividend Announcement

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 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 payout ratio is 8.95%.

Analyst Ratings Changes

GOOG has been the subject of a number of analyst reports. Susquehanna restated a "positive" rating on shares of Alphabet in a report on Friday, May 2nd. Scotiabank boosted their target price on shares of Alphabet from $200.00 to $240.00 and gave the stock a "sector outperform" rating in a report on Tuesday, July 22nd. Raymond James Financial restated an "outperform" rating and issued a $210.00 price target (up from $185.00) on shares of Alphabet in a report on Thursday, July 24th. BNP Paribas lowered shares of Alphabet from a "strong-buy" rating to a "hold" rating in a research note on Thursday, June 26th. Finally, JPMorgan Chase & Co. raised their target price on shares of Alphabet from $200.00 to $232.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Five analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, six have given a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $215.19.

Insider Activity at Alphabet

In other Alphabet news, insider John Kent Walker sold 23,820 shares of the firm's stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the sale, the insider owned 42,999 shares of the company's stock, 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $199.92, for a total transaction of $6,497,400.00. Following the transaction, the chief executive officer owned 2,462,392 shares in the company, valued at approximately $492,281,408.64. This trade represents a 1.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 254,719 shares of company stock valued at $47,223,172 in the last ninety days. 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.

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