Optas LLC trimmed its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 1.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 124,750 shares of the information services provider's stock after selling 1,529 shares during the quarter. Alphabet makes up about 4.2% of Optas LLC's portfolio, making the stock its 3rd largest holding. Optas LLC's holdings in Alphabet were worth $21,985,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also added to or reduced their stakes in the stock. Dempze Nancy E increased its position in Alphabet by 1.2% during the 2nd quarter. Dempze Nancy E now owns 34,618 shares of the information services provider's stock worth $6,101,000 after purchasing an additional 396 shares in the last quarter. Eagle Strategies LLC grew its holdings in Alphabet by 3.3% during the 2nd quarter. Eagle Strategies LLC now owns 9,997 shares of the information services provider's stock worth $1,762,000 after acquiring an additional 324 shares during the last quarter. Narwhal Capital Management bought a new stake in Alphabet during the 2nd quarter worth approximately $206,000. Ignite Planners LLC grew its holdings in Alphabet by 3.2% during the 2nd quarter. Ignite Planners LLC now owns 24,141 shares of the information services provider's stock worth $4,467,000 after acquiring an additional 750 shares during the last quarter. Finally, H&H Retirement Design & Management INC grew its holdings in Alphabet by 10.0% during the 2nd quarter. H&H Retirement Design & Management INC now owns 7,089 shares of the information services provider's stock worth $1,348,000 after acquiring an additional 646 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.
Alphabet Stock Up 0.7%
Shares of NASDAQ GOOGL opened at $253.30 on Friday. The firm has a market cap of $3.06 trillion, a PE ratio of 26.98, a P/E/G ratio of 1.70 and a beta of 1.00. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $256.96. The company's fifty day simple moving average is $231.55 and its 200 day simple moving average is $191.61. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07.
Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its 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. The business had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.60 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. As a group, sell-side analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.
Alphabet Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders 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 annualized dividend and a yield of 0.3%. Alphabet's dividend payout ratio is presently 8.95%.
Insiders Place Their Bets
In other Alphabet news, CAO Amie Thuener O'toole sold 2,778 shares of the company's stock in a transaction on Monday, September 15th. The shares were sold at an average price of $245.00, for a total transaction of $680,610.00. Following the transaction, the chief accounting officer owned 17,293 shares in the company, valued at approximately $4,236,785. This represents a 13.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider John Kent Walker sold 23,820 shares of the company's stock in a transaction on Monday, August 4th. The stock was sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the transaction, the insider owned 42,999 shares in the company, valued at approximately $8,371,905.30. The trade was a 35.65% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 246,150 shares of company stock worth $55,805,379. Insiders own 11.64% of the company's stock.
Analysts Set New Price Targets
A number of research firms have weighed in on GOOGL. Canaccord Genuity Group boosted their target price on shares of Alphabet from $230.00 to $270.00 and gave the stock a "buy" rating in a report on Thursday, September 4th. Loop Capital reissued a "hold" rating and set a $190.00 target price (up from $165.00) on shares of Alphabet in a report on Tuesday, August 5th. DA Davidson boosted their target price on shares of Alphabet from $180.00 to $190.00 and gave the stock a "neutral" rating in a report on Tuesday, September 2nd. Hsbc Global Res raised shares of Alphabet to a "strong-buy" rating in a report on Tuesday, October 7th. Finally, Needham & Company LLC boosted their target price on shares of Alphabet from $220.00 to $260.00 and gave the stock a "buy" rating in a report on Wednesday, September 3rd. Four analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, Alphabet presently has an average rating of "Moderate Buy" and an average target price of $252.24.
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About Alphabet
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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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