Alphabet Inc. $GOOGL Stock Holdings Cut by Capricorn Fund Managers Ltd

Key Points

• Capricorn Fund Managers Ltd reduced its holdings in Alphabet Inc. by 26.7% in Q2, owning 49,090 shares worth about $8.65 million.
• Alphabet's recent earnings report showed earnings per share of $2.31, surpassing estimates, with total quarterly revenue of $96.43 billion.
• Several analysts raised their price targets for Alphabet's stock, with Tigress Financial increasing its target to $280.00 and Citigroup to $280.00, indicating strong support from analysts.

Capricorn Fund Managers Ltd trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 26.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 49,090 shares of the information services provider's stock after selling 17,875 shares during the quarter. Alphabet accounts for approximately 4.1% of Capricorn Fund Managers Ltd's portfolio, making the stock its 4th largest holding. Capricorn Fund Managers Ltd's holdings in Alphabet were worth $8,651,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Sava Infond d.o.o. boosted its holdings in shares of Alphabet by 9.1% in the 2nd quarter. Sava Infond d.o.o. now owns 140,790 shares of the information services provider's stock worth $24,811,000 after buying an additional 11,700 shares during the last quarter. Apexium Financial LP boosted its holdings in shares of Alphabet by 0.3% in the 2nd quarter. Apexium Financial LP now owns 59,989 shares of the information services provider's stock worth $10,572,000 after buying an additional 179 shares during the last quarter. Hudson Valley Investment Advisors Inc. ADV boosted its holdings in shares of Alphabet by 1.2% in the 2nd quarter. Hudson Valley Investment Advisors Inc. ADV now owns 6,730 shares of the information services provider's stock worth $1,186,000 after buying an additional 77 shares during the last quarter. Pflug Koory LLC boosted its holdings in shares of Alphabet by 8.4% in the 2nd quarter. Pflug Koory LLC now owns 11,159 shares of the information services provider's stock worth $1,967,000 after buying an additional 869 shares during the last quarter. Finally, NTV Asset Management LLC boosted its holdings in shares of Alphabet by 1.9% in the 2nd quarter. NTV Asset Management LLC now owns 44,728 shares of the information services provider's stock worth $7,882,000 after buying an additional 829 shares during the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Trading Down 2.1%

Shares of GOOGL opened at $236.57 on Friday. The business's 50-day moving average price is $226.31 and its 200-day moving average price is $188.66. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $256.00. The stock has a market cap of $2.86 trillion, a PE ratio of 25.19, a P/E/G ratio of 1.60 and a beta of 1.00. 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 announced its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating 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 for the quarter, compared to analysts' expectations of $93.60 billion. On average, equities analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were given a dividend of $0.21 per share. The ex-dividend date was Monday, September 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.4%. Alphabet's dividend payout ratio is currently 8.95%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Tigress Financial boosted their price target on shares of Alphabet from $240.00 to $280.00 and gave the stock a "strong-buy" rating in a report on Friday, September 5th. Needham & Company LLC boosted their price target on shares of Alphabet from $220.00 to $260.00 and gave the stock a "buy" rating in a report on Wednesday, September 3rd. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of Alphabet in a report on Wednesday, September 3rd. Citigroup upped their price objective on shares of Alphabet from $225.00 to $280.00 and gave the company a "buy" rating in a report on Monday, September 15th. Finally, Wedbush upped their price objective on shares of Alphabet from $225.00 to $245.00 and gave the company an "outperform" rating in a report on Wednesday, September 3rd. Four analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and ten have given a Hold rating to the company's stock. According to MarketBeat, Alphabet presently has a consensus rating of "Moderate Buy" and a consensus target price of $245.88.

Insider Activity

In related news, insider John Kent Walker sold 17,816 shares of the company's stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $247.42, for a total value of $4,408,034.72. Following the transaction, the insider directly owned 42,985 shares in the company, valued at approximately $10,635,348.70. This represents a 29.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John L. Hennessy sold 600 shares of the company's stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $249.44, for a total transaction of $149,664.00. Following the completion of the transaction, the director owned 5,716 shares in the company, valued at approximately $1,425,799.04. This trade represents a 9.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 276,738 shares of company stock valued at $59,135,475. 11.64% of the stock is currently owned by insiders.

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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