Bahl & Gaynor Inc. reduced its position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 3.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 53,172 shares of the information services provider's stock after selling 2,140 shares during the period. Bahl & Gaynor Inc.'s holdings in Alphabet were worth $8,307,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also modified their holdings of the company. JDM Financial Group LLC raised its position in shares of Alphabet by 10.6% during the fourth quarter. JDM Financial Group LLC now owns 593 shares of the information services provider's stock valued at $113,000 after buying an additional 57 shares during the last quarter. Objectivity Squared LLC grew its stake in Alphabet by 0.4% during the first quarter. Objectivity Squared LLC now owns 16,342 shares of the information services provider's stock worth $2,605,000 after buying an additional 62 shares during the last quarter. Tranquility Partners LLC grew its stake in Alphabet by 0.4% during the first quarter. Tranquility Partners LLC now owns 14,488 shares of the information services provider's stock worth $2,263,000 after buying an additional 63 shares during the last quarter. Stonebridge Financial Group LLC grew its stake in Alphabet by 0.6% during the first quarter. Stonebridge Financial Group LLC now owns 10,648 shares of the information services provider's stock worth $1,664,000 after buying an additional 64 shares during the last quarter. Finally, True Wealth Design LLC grew its stake in shares of Alphabet by 28.5% during the fourth quarter. True Wealth Design LLC now owns 293 shares of the information services provider's stock valued at $56,000 after purchasing an additional 65 shares during the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling at Alphabet
In other Alphabet news, Director Kavitark Ram Shriram sold 15,000 shares of Alphabet stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $185.76, for a total value of $2,786,400.00. Following the completion of the sale, the director owned 240,400 shares in the company, valued at $44,656,704. The trade was a 5.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $199.92, for a total transaction of $6,497,400.00. Following the completion of the sale, the chief executive officer owned 2,462,392 shares of the company's stock, valued at $492,281,408.64. This trade represents a 1.30% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 254,719 shares of company stock worth $47,223,172 over the last quarter. Company insiders own 12.99% of the company's stock.
Alphabet Stock Performance
Shares of NASDAQ GOOG traded up $0.23 during mid-day trading on Wednesday, reaching $208.18. 14,202,659 shares of the company were exchanged, compared to its average volume of 23,645,256. The company's 50-day simple moving average is $188.95 and its 200-day simple moving average is $174.99. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $2.52 trillion, a P/E ratio of 22.17, a P/E/G ratio of 1.41 and a beta of 1.02. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $211.09.
Alphabet (NASDAQ:GOOG - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.12 by $0.19. The company had revenue of $96.43 billion during the quarter, compared to analysts' expectations of $93.67 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. Alphabet's quarterly revenue was up 13.8% compared to the same quarter last year. During the same quarter last year, the company posted $1.89 EPS. As a group, research analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current year.
Alphabet Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be paid a $0.21 dividend. The ex-dividend date is Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.4%. Alphabet's payout ratio is 8.95%.
Analyst Ratings Changes
Several equities analysts recently weighed in on GOOG shares. BNP Paribas lowered shares of Alphabet from a "strong-buy" rating to a "hold" rating in a report on Thursday, June 26th. The Goldman Sachs Group restated a "buy" rating and set a $220.00 price objective on shares of Alphabet in a report on Monday, June 2nd. UBS Group lifted their price objective on shares of Alphabet from $186.00 to $192.00 and gave the company a "neutral" rating in a research report on Wednesday, July 16th. Needham & Company LLC downgraded shares of Alphabet from a "buy" rating to a "cautious" rating in a research report on Friday, May 2nd. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Alphabet from $200.00 to $232.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. Five investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $215.19.
Read Our Latest Stock Analysis on GOOG
About Alphabet
(
Free Report)
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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