Baxter Bros Inc. Sells 1,102 Shares of Alphabet Inc. $GOOGL

Key Points

• Baxter Bros Inc. reduced its Alphabet Inc. holdings by 1.0%, selling 1,102 shares, leaving them with 105,988 shares valued at approximately $18.68 million.
• Alphabet's stock performance has been positive recently, with a 0.7% increase, bringing the share price to $253.30 and a market cap of $3.06 trillion.
• The company reported a Q2 earnings per share (EPS) of $2.31, surpassing the consensus estimate of $2.15, and achieved a revenue of $96.43 billion, exceeding analyst expectations.

Baxter Bros Inc. lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 1.0% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 105,988 shares of the information services provider's stock after selling 1,102 shares during the quarter. Alphabet makes up 2.3% of Baxter Bros Inc.'s portfolio, making the stock its 12th biggest position. Baxter Bros Inc.'s holdings in Alphabet were worth $18,678,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Mystic Asset Management Inc. grew its stake in shares of Alphabet by 6.7% in the first quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider's stock worth $4,400,000 after acquiring an additional 1,791 shares during the last quarter. Harbour Trust & Investment Management Co raised its stake in shares of Alphabet by 0.3% in the first quarter. Harbour Trust & Investment Management Co now owns 27,075 shares of the information services provider's stock worth $4,187,000 after buying an additional 80 shares during the period. Cypress Capital LLC raised its stake in shares of Alphabet by 4.1% in the first quarter. Cypress Capital LLC now owns 14,310 shares of the information services provider's stock worth $2,213,000 after buying an additional 563 shares during the period. Bridgeway Capital Management LLC raised its stake in shares of Alphabet by 17.9% in the first quarter. Bridgeway Capital Management LLC now owns 88,187 shares of the information services provider's stock worth $13,637,000 after buying an additional 13,371 shares during the period. Finally, Alaethes Wealth LLC raised its stake in Alphabet by 1.1% during the 1st quarter. Alaethes Wealth LLC now owns 7,646 shares of the information services provider's stock valued at $1,182,000 after purchasing an additional 84 shares during the period. Institutional investors own 40.03% of the company's stock.

Alphabet Stock Up 0.7%

Alphabet stock opened at $253.30 on Friday. The firm 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. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $256.96. The business's 50-day moving average price is $231.55 and its 200 day moving average price is $191.85. 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 issued its quarterly earnings data 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. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The company had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.60 billion. As a group, sell-side analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

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

Analyst Ratings Changes

Several analysts recently issued reports on the company. KeyCorp lifted their target price on Alphabet from $230.00 to $265.00 and gave the company an "overweight" rating in a research note on Wednesday, September 3rd. Roth Capital boosted their target price on Alphabet from $210.00 to $265.00 and gave the company a "buy" rating in a research report on Thursday. Westpark Capital upped their price objective on Alphabet from $210.00 to $220.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Susquehanna upped their target price on Alphabet from $220.00 to $225.00 and gave the stock a "positive" rating in a report on Thursday, July 24th. Finally, BMO Capital Markets set a $294.00 price objective on Alphabet and gave the stock an "outperform" rating in a research note on Thursday, October 9th. Four research analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, Alphabet presently has a consensus rating of "Moderate Buy" and an average price target of $252.24.

Insider Transactions at Alphabet

In related news, insider John Kent Walker sold 17,816 shares of Alphabet stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the transaction, the insider owned 42,985 shares in the company, valued at approximately $10,635,348.70. This trade represents a 29.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $250.15, for a total transaction of $8,129,875.00. Following the completion of the transaction, the chief executive officer owned 2,369,619 shares in the company, valued at approximately $592,760,192.85. This represents a 1.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 246,150 shares of company stock valued at $55,805,379. Insiders own 11.64% of the company's stock.

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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