Alphabet Inc. $GOOGL Stock Holdings Trimmed by Cox Capital Mgt LLC

Key Points

• Cox Capital Management LLC has reduced its stake in Alphabet Inc. by 4.3% during the second quarter, holding a total of 35,428 shares worth approximately $6.24 million.
• Several institutional investors, including Vanguard Group and UBS, have increased their stakes in Alphabet, indicating continued strong interest in the company despite market fluctuations.
• Alphabet recently declared a quarterly dividend of $0.21 per share, with an annualized yield of 0.3%, reflecting a dividend payout ratio of 8.95%.

Cox Capital Mgt LLC decreased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 4.3% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 35,428 shares of the information services provider's stock after selling 1,577 shares during the quarter. Alphabet comprises 4.3% of Cox Capital Mgt LLC's holdings, making the stock its 4th largest position. Cox Capital Mgt LLC's holdings in Alphabet were worth $6,244,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in GOOGL. Vanguard Group Inc. raised its holdings in shares of Alphabet by 2.9% during the 1st quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider's stock worth $78,839,544,000 after acquiring an additional 14,307,345 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Alphabet by 11.4% during 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 purchasing an additional 4,473,901 shares during the period. Invesco Ltd. raised its stake in Alphabet by 1.4% during the first quarter. Invesco Ltd. now owns 43,648,514 shares of the information services provider's stock worth $6,749,806,000 after purchasing an additional 593,345 shares during the period. Deutsche Bank AG raised its stake in Alphabet by 1.9% during the first quarter. Deutsche Bank AG now owns 39,792,300 shares of the information services provider's stock worth $6,153,481,000 after purchasing an additional 727,335 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Alphabet by 0.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 38,556,577 shares of the information services provider's stock valued at $5,962,389,000 after buying an additional 104,859 shares during the period. Hedge funds and other institutional investors own 40.03% of the company's stock.

Insider Activity at Alphabet

In related news, insider John Kent Walker sold 23,820 shares of the company'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 directly owned 42,999 shares in the company, valued at approximately $8,371,905.30. This represents a 35.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John L. Hennessy sold 600 shares of the stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $249.44, for a total transaction of $149,664.00. Following the completion of the sale, the director directly owned 5,716 shares in the company, valued at approximately $1,425,799.04. This represents a 9.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 257,866 shares of company stock worth $52,363,610 over the last quarter. 11.55% of the stock is currently owned by insiders.

Alphabet Price Performance

Shares of GOOGL opened at $244.05 on Tuesday. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $256.00. The firm's 50 day moving average price is $217.01 and its 200 day moving average price is $183.83. The company has a market cap of $2.95 trillion, a P/E ratio of 25.99, a PEG ratio of 1.66 and a beta of 1.01. 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 posted its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping analysts' consensus estimates of $2.15 by $0.16. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The business had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.60 billion. On average, research analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently declared 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 8.95%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on GOOGL. Citizens Jmp lifted their price target on shares of Alphabet from $250.00 to $290.00 and gave the company an "outperform" rating in a research report on Friday, September 19th. KeyCorp lifted their target price on Alphabet from $230.00 to $265.00 and gave the company an "overweight" rating in a research report on Wednesday, September 3rd. Wedbush boosted 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. Tigress Financial boosted their price objective on shares of Alphabet from $240.00 to $280.00 and gave the company a "strong-buy" rating in a report on Friday, September 5th. Finally, Moffett Nathanson boosted their price objective on shares of Alphabet from $230.00 to $295.00 and gave the company a "buy" rating in a report on Thursday, September 25th. Three investment analysts have rated the stock with a Strong Buy rating, thirty-three have given a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $233.44.

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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