Alphabet Inc. $GOOGL Holdings Trimmed by Bigelow Investment Advisors LLC

Key Points

• Bigelow Investment Advisors LLC decreased its holdings in Alphabet Inc. by 7.5%, owning 13,848 shares after selling 1,122 shares during Q2.
• Alphabet recently reported earnings of $2.31 per share for the latest quarter, surpassing analyst estimates of $2.15, with a revenue of $96.43 billion.
• A quarterly dividend of $0.21 was paid on September 15th, representing an annualized dividend yield of 0.3% and a payout ratio of 8.95%.

Bigelow Investment Advisors LLC cut its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 7.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,848 shares of the information services provider's stock after selling 1,122 shares during the period. Alphabet accounts for about 1.1% of Bigelow Investment Advisors LLC's portfolio, making the stock its 23rd biggest position. Bigelow Investment Advisors LLC's holdings in Alphabet were worth $2,440,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of GOOGL. Mystic Asset Management Inc. grew its holdings in Alphabet by 6.7% during the 1st quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider's stock valued at $4,400,000 after purchasing an additional 1,791 shares during the last quarter. Harbour Trust & Investment Management Co boosted its holdings in Alphabet by 0.3% during the 1st quarter. Harbour Trust & Investment Management Co now owns 27,075 shares of the information services provider's stock valued at $4,187,000 after acquiring an additional 80 shares during the period. Cypress Capital LLC increased its stake in 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 purchasing an additional 563 shares during the period. Bridgeway Capital Management LLC increased its stake in 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 purchasing an additional 13,371 shares during the period. Finally, Alaethes Wealth LLC boosted its position in Alphabet by 1.1% in the 1st quarter. Alaethes Wealth LLC now owns 7,646 shares of the information services provider's stock valued at $1,182,000 after buying an additional 84 shares during the period. Hedge funds and other institutional investors own 40.03% of the company's stock.

Alphabet Trading Down 0.9%

Shares of GOOGL stock traded down $2.19 on Monday, reaching $252.53. 32,240,768 shares of the stock were exchanged, compared to its average volume of 36,834,965. The stock has a market cap of $3.05 trillion, a P/E ratio of 26.89, a price-to-earnings-growth ratio of 1.72 and a beta of 1.01. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $256.00. 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 firm has a 50 day moving average of $209.36 and a two-hundred day moving average of $180.41.

Alphabet (NASDAQ:GOOGL - 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 $2.15 by $0.16. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The firm had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.60 billion. On average, research analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, September 8th. Alphabet's payout ratio is presently 8.95%.

Insider Activity

In other news, insider John Kent Walker sold 23,820 shares of the firm's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the completion of the sale, the insider directly owned 42,999 shares in the company, valued at $8,371,905.30. This trade represents a 35.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kavitark Ram Shriram sold 18,566 shares of the firm's stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $185.76, for a total value of $3,448,820.16. Following the sale, the director owned 243,400 shares of the company's stock, valued at approximately $45,213,984. This trade represents a 7.09% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 258,088 shares of company stock valued at $52,405,304. Corporate insiders own 11.55% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on GOOGL. Wells Fargo & Company boosted their price target on shares of Alphabet from $184.00 to $187.00 and gave the company an "equal weight" rating in a report on Tuesday, July 29th. Loop Capital reiterated a "hold" rating and issued a $190.00 target price (up from $165.00) on shares of Alphabet in a research note on Tuesday, August 5th. Oppenheimer reiterated an "outperform" rating and set a $270.00 price target (up previously from $235.00) on shares of Alphabet in a research note on Tuesday, September 2nd. Piper Sandler raised their target price on shares of Alphabet from $220.00 to $285.00 and gave the stock an "overweight" rating in a report on Thursday. Finally, Barclays boosted their price target on Alphabet from $235.00 to $250.00 and gave the company an "overweight" rating in a report on Wednesday, September 3rd. Three analysts have rated the stock with a Strong Buy rating, thirty-two have issued a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $231.31.

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.