Alphabet Inc. $GOOG Stock Holdings Reduced by Arthur M. Cohen & Associates LLC

Key Points

• Arthur M. Cohen & Associates LLC reduced its stock position in Alphabet Inc. by 1.7%, now holding approximately 130,673 shares valued at $23.18 million.
• Institutional investors own 27.26% of Alphabet's stock, with significant stakes held by entities like Vanguard Group and Kingstone Capital Partners.
• Alphabet recently announced a quarterly dividend of $0.21 per share, translating to an annual yield of 0.3% with a low payout ratio of 8.95%.

Arthur M. Cohen & Associates LLC cut its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 1.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 130,673 shares of the information services provider's stock after selling 2,200 shares during the quarter. Alphabet accounts for about 4.1% of Arthur M. Cohen & Associates LLC's holdings, making the stock its 9th biggest holding. Arthur M. Cohen & Associates LLC's holdings in Alphabet were worth $23,180,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in GOOG. Kingstone Capital Partners Texas LLC lifted its stake in Alphabet by 580,897.4% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider's stock valued at $23,963,208,000 after acquiring an additional 135,064,454 shares during the period. Nuveen LLC purchased a new stake in shares of Alphabet during the first quarter worth about $2,622,943,000. GAMMA Investing LLC lifted its holdings in Alphabet by 18,562.3% in the first quarter. GAMMA Investing LLC now owns 14,323,323 shares of the information services provider's stock valued at $2,237,733,000 after acquiring an additional 14,246,573 shares during the period. Vanguard Group Inc. increased its stake in shares of Alphabet by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider's stock worth $64,299,725,000 after acquiring an additional 9,687,855 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in Alphabet by 9.9% in the 1st quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider's stock valued at $15,971,861,000 after acquiring an additional 9,243,959 shares in the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Alphabet

In other news, insider John Kent Walker sold 23,820 shares of the 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 completion of the sale, the insider directly owned 42,999 shares of the company's stock, valued at $8,371,905.30. This represents a 35.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $249.50, for a total transaction of $8,108,750.00. Following the transaction, the chief executive officer owned 2,397,392 shares of the company's stock, valued at $598,149,304. This trade represents a 1.34% decrease in their position. The disclosure for this sale can be found here. Insiders sold 258,088 shares of company stock valued at $52,405,304 in the last quarter. Insiders own 12.99% of the company's stock.

Analysts Set New Price Targets

A number of analysts have commented on the company. Scotiabank boosted their target price on Alphabet from $200.00 to $240.00 and gave the stock a "sector outperform" rating in a research report on Tuesday, July 22nd. Phillip Securities lowered Alphabet from a "strong-buy" rating to a "moderate buy" rating in a report on Monday, September 8th. Raymond James Financial reaffirmed an "outperform" rating and set a $210.00 price objective (up from $185.00) on shares of Alphabet in a report on Thursday, July 24th. Robert W. Baird upped their price objective on shares of Alphabet from $215.00 to $275.00 and gave the company an "outperform" rating in a research report on Monday. Finally, Piper Sandler reiterated a "neutral" rating on shares of Alphabet in a research note on Wednesday, July 9th. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, Alphabet currently has an average rating of "Moderate Buy" and a consensus price target of $230.35.

Alphabet Price Performance

NASDAQ:GOOG traded down $2.36 during trading hours on Monday, hitting $252.88. The stock had a trading volume of 20,038,778 shares, compared to its average volume of 25,284,148. The firm has a market capitalization of $3.06 trillion, a price-to-earnings ratio of 26.93, a P/E/G ratio of 1.72 and a beta of 1.01. The company has a 50 day simple moving average of $211.48 and a two-hundred day simple moving average of $182.24. Alphabet Inc. has a one year low of $142.66 and a one year high of $256.70. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90.

Alphabet (NASDAQ:GOOG - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.12 by $0.19. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The firm had revenue of $96.43 billion for the quarter, compared to analysts' expectations of $93.67 billion. During the same quarter in the previous year, the company earned $1.89 earnings per share. The company's revenue for the quarter was up 13.8% compared to the same quarter last year. Research analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced 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. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Monday, September 8th. Alphabet's dividend payout ratio is currently 8.95%.

Alphabet 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.