Alphabet Inc. $GOOG is Beck Mack & Oliver LLC's 7th Largest Position

Key Points

• Beck Mack & Oliver LLC has decreased its holdings in Alphabet Inc. (NASDAQ:GOOG) by 0.8%, selling 9,258 shares and retaining 1,142,752 shares, worth approximately $178.5 million.
• Alphabet recently reported a quarterly earnings per share (EPS) of $2.31, exceeding analyst expectations of $2.12, with revenue of $96.43 billion for the quarter.
• The company announced a quarterly dividend of $0.21 per share, with a payout ratio of 8.95%, to be paid on September 15th.

Beck Mack & Oliver LLC trimmed its holdings in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 0.8% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 1,142,752 shares of the information services provider's stock after selling 9,258 shares during the quarter. Alphabet accounts for about 3.6% of Beck Mack & Oliver LLC's holdings, making the stock its 7th biggest holding. Beck Mack & Oliver LLC's holdings in Alphabet were worth $178,532,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Brighton Jones LLC raised its holdings in Alphabet by 5.6% during the 4th quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider's stock valued at $22,901,000 after buying an additional 6,410 shares during the last quarter. Bank Pictet & Cie Europe AG raised its holdings in Alphabet by 4.3% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 506,535 shares of the information services provider's stock valued at $96,465,000 after buying an additional 20,855 shares during the last quarter. Accredited Wealth Management LLC bought a new stake in Alphabet during the 4th quarter valued at $444,000. Atalanta Sosnoff Capital LLC raised its holdings in Alphabet by 2.8% during the 4th quarter. Atalanta Sosnoff Capital LLC now owns 27,523 shares of the information services provider's stock valued at $5,241,000 after buying an additional 752 shares during the last quarter. Finally, Aspire Growth Partners LLC bought a new stake in Alphabet during the 4th quarter valued at $1,275,000. 27.26% of the stock is currently owned by institutional investors.

Alphabet Price Performance

Shares of Alphabet stock traded up $19.11 on Wednesday, hitting $231.10. 70,744,184 shares of the company traded hands, compared to its average volume of 23,976,586. The stock has a market capitalization of $2.79 trillion, a P/E ratio of 24.61, a price-to-earnings-growth ratio of 1.44 and a beta of 1.01. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $231.80. The business has a 50-day simple moving average of $193.15 and a 200 day simple moving average of $175.85.

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 the consensus estimate of $2.12 by $0.19. The firm had revenue of $96.43 billion for 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%. The company's revenue for the quarter was up 13.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.89 earnings per share. Research analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.4%. Alphabet's dividend payout ratio (DPR) is 8.95%.

Analysts Set New Price Targets

Several research analysts have commented on the stock. UBS Group upped their price objective on shares of Alphabet from $186.00 to $192.00 and gave the stock a "neutral" rating in a report on Wednesday, July 16th. Wells Fargo & Company reissued an "equal weight" rating on shares of Alphabet in a research report on Wednesday, July 9th. Oppenheimer reaffirmed an "outperform" rating and set a $270.00 price target (up previously from $235.00) on shares of Alphabet in a report on Wednesday. Citizens Jmp raised shares of Alphabet from a "hold" rating to a "strong-buy" rating in a report on Thursday, June 26th. Finally, KeyCorp set a $265.00 price objective on shares of Alphabet in a research note on Wednesday. Five research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, six have given a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat, Alphabet currently has a consensus rating of "Moderate Buy" and a consensus target price of $227.56.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 18,566 shares of Alphabet stock in a transaction on Friday, July 18th. The shares were sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the completion of the transaction, the director directly owned 243,400 shares of the company's stock, valued at $45,213,984. The trade was a 7.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John L. Hennessy sold 1,000 shares of Alphabet stock in a transaction on Friday, August 8th. The stock was sold at an average price of $200.00, for a total transaction of $200,000.00. Following the transaction, the director directly owned 6,916 shares of the company's stock, valued at $1,383,200. The trade was a 12.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 222,210 shares of company stock valued at $41,742,155. 12.99% of the stock is owned by company insiders.

Alphabet Company 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.