Alphabet Inc. $GOOGL is Vision Capital Management Inc.'s 10th Largest Position

Key Points

• Vision Capital Management Inc. trimmed its investment in Alphabet Inc. (NASDAQ: GOOGL) by 2.0%, holding 126,894 shares valued at approximately $22.36 million, making it the firm's 10th largest position.
• In the most recent quarter, Alphabet reported earnings of $2.31 per share, exceeding analysts' expectations of $2.15, with total revenues reaching $96.43 billion.
• Alphabet's stock recently declared a quarterly dividend of $0.21 per share, yielding 0.3%, while maintaining a low dividend payout ratio of 8.95%.

Vision Capital Management Inc. decreased its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 2.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 126,894 shares of the information services provider's stock after selling 2,540 shares during the quarter. Alphabet makes up 2.9% of Vision Capital Management Inc.'s investment portfolio, making the stock its 10th largest position. Vision Capital Management Inc.'s holdings in Alphabet were worth $22,363,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Nuveen LLC purchased a new stake in Alphabet in the 1st quarter worth approximately $4,317,606,000. Vanguard Group Inc. increased its stake in shares of Alphabet by 2.9% during the first quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider's stock valued at $78,839,544,000 after buying an additional 14,307,345 shares during the period. Assenagon Asset Management S.A. raised its holdings in shares of Alphabet by 307.6% during the first quarter. Assenagon Asset Management S.A. now owns 10,302,644 shares of the information services provider's stock valued at $1,593,201,000 after acquiring an additional 7,774,811 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Alphabet by 11.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 43,865,520 shares of the information services provider's stock worth $6,783,364,000 after acquiring an additional 4,473,901 shares during the period. Finally, Amundi lifted its stake in Alphabet by 11.8% in the first quarter. Amundi now owns 33,403,871 shares of the information services provider's stock worth $5,034,992,000 after acquiring an additional 3,537,173 shares during the period. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Trading Down 0.4%

Alphabet stock opened at $243.10 on Wednesday. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $256.00. 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's fifty day simple moving average is $218.05 and its two-hundred day simple moving average is $184.24. The company has a market capitalization of $2.94 trillion, a price-to-earnings ratio of 25.89, a price-to-earnings-growth ratio of 1.65 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.16. 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 analyst estimates of $93.60 billion. As a group, equities analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were issued a dividend of $0.21 per share. The ex-dividend date was Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. Alphabet's dividend payout ratio is presently 8.95%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Canaccord Genuity Group upped their price objective on shares of Alphabet from $230.00 to $270.00 and gave the stock a "buy" rating in a report on Thursday, September 4th. DA Davidson lifted their price objective on Alphabet from $180.00 to $190.00 and gave the company a "neutral" rating in a research report on Tuesday, September 2nd. Rosenblatt Securities upped their target price on Alphabet from $191.00 to $224.00 and gave the stock a "neutral" rating in a report on Wednesday, September 3rd. Piper Sandler increased their target price on Alphabet from $220.00 to $285.00 and gave the stock an "overweight" rating in a research report on Thursday, September 18th. Finally, Westpark Capital lifted their price target on Alphabet from $210.00 to $220.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Three analysts have rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat.com, Alphabet presently has a consensus rating of "Moderate Buy" and an average target price of $235.63.

Insider Activity

In other Alphabet news, CAO Amie Thuener O'toole sold 2,778 shares of Alphabet stock in a transaction on Monday, September 15th. The stock was sold at an average price of $245.00, for a total value of $680,610.00. Following the completion of the sale, the chief accounting officer owned 17,293 shares of the company's stock, valued at approximately $4,236,785. This trade represents a 13.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider John Kent Walker sold 23,820 shares of the company's stock in a transaction 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. The trade was a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 225,469 shares of company stock valued at $46,586,752. Company insiders own 11.55% 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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