Alphabet Inc. $GOOGL Stock Holdings Decreased by GFG Capital LLC

Key Points

• GFG Capital LLC decreased its stake in Alphabet Inc. by 27.8%, leaving it with 56,070 shares worth approximately $9.88 million.
• Alphabet reported $2.31 EPS for the last quarter, surpassing estimates of $2.15, with revenues totaling $96.43 billion against a forecast of $93.60 billion.
• The company recently declared a quarterly dividend of $0.21, translating to an annual yield of 0.3%, with a payout ratio of 8.95%.

GFG Capital LLC reduced its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 27.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 56,070 shares of the information services provider's stock after selling 21,609 shares during the quarter. Alphabet accounts for 2.9% of GFG Capital LLC's investment portfolio, making the stock its 9th biggest holding. GFG Capital LLC's holdings in Alphabet were worth $9,881,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Guardian Wealth Management Inc. boosted its stake in shares of Alphabet by 242.9% in the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider's stock valued at $26,000 after buying an additional 119 shares in the last quarter. von Borstel & Associates Inc. purchased a new stake in shares of Alphabet in the first quarter valued at approximately $28,000. IMA Advisory Services Inc. purchased a new stake in shares of Alphabet in the first quarter valued at approximately $28,000. NBZ Investment Advisors LLC boosted its stake in shares of Alphabet by 85.7% in the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider's stock valued at $30,000 after buying an additional 90 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. purchased a new stake in shares of Alphabet in the first quarter valued at approximately $39,000. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Stock Performance

NASDAQ GOOGL opened at $253.30 on Friday. The stock has a market cap of $3.06 trillion, a price-to-earnings ratio of 26.98, a price-to-earnings-growth ratio of 1.71 and a beta of 1.00. The business has a fifty day moving average of $231.55 and a 200-day moving average of $191.85. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $256.96. 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 released its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating the consensus estimate of $2.15 by $0.16. The firm had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. As a group, analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.3%. The ex-dividend date was Monday, September 8th. Alphabet's dividend payout ratio is presently 8.95%.

Insider Activity at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $249.50, for a total transaction of $8,108,750.00. Following the completion of the sale, the chief executive officer directly owned 2,397,392 shares in the company, valued at $598,149,304. This represents a 1.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Amie Thuener O'toole sold 2,778 shares of the company's stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $245.00, for a total value of $680,610.00. Following the sale, the chief accounting officer owned 17,293 shares of the company's stock, valued at $4,236,785. This represents a 13.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 246,150 shares of company stock worth $55,805,379. 11.64% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on GOOGL shares. JPMorgan Chase & Co. restated a "buy" rating on shares of Alphabet in a research note on Tuesday, October 14th. Rosenblatt Securities lifted their price objective on Alphabet from $191.00 to $224.00 and gave the stock a "neutral" rating in a report on Wednesday, September 3rd. Morgan Stanley set a $270.00 price objective on Alphabet and gave the stock an "overweight" rating in a report on Thursday, October 2nd. HSBC began coverage on Alphabet in a report on Tuesday, October 7th. They set a "buy" rating and a $285.00 price objective for the company. Finally, Citizens Jmp lifted their price objective on Alphabet from $250.00 to $290.00 and gave the stock an "outperform" rating in a report on Friday, September 19th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, Alphabet currently has an average rating of "Moderate Buy" and a consensus price target of $252.24.

About Alphabet

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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