Carderock Capital Management Inc. cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 8.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 58,385 shares of the information services provider's stock after selling 5,371 shares during the quarter. Alphabet accounts for approximately 2.4% of Carderock Capital Management Inc.'s holdings, making the stock its 13th biggest holding. Carderock Capital Management Inc.'s holdings in Alphabet were worth $9,029,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. Guardian Wealth Management Inc. boosted its position in Alphabet by 242.9% during the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider's stock valued at $26,000 after buying an additional 119 shares during the period. von Borstel & Associates Inc. purchased a new position in shares of Alphabet in the first quarter worth about $28,000. IMA Advisory Services Inc. bought a new stake in shares of Alphabet in the 1st quarter valued at about $28,000. NBZ Investment Advisors LLC lifted its stake in shares of Alphabet by 85.7% in the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider's stock valued at $30,000 after acquiring an additional 90 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. purchased a new stake in Alphabet during the 1st quarter valued at about $39,000. Hedge funds and other institutional investors own 40.03% of the company's stock.
Analyst Ratings Changes
GOOGL has been the topic of a number of analyst reports. Wells Fargo & Company lifted their price target on Alphabet from $184.00 to $187.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 29th. Loop Capital reissued a "hold" rating and set a $190.00 price objective (up previously from $165.00) on shares of Alphabet in a research note on Tuesday, August 5th. UBS Group lifted their target price on shares of Alphabet from $192.00 to $202.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. JMP Securities increased their price target on shares of Alphabet from $225.00 to $250.00 and gave the company a "market outperform" rating in a research report on Wednesday, September 3rd. Finally, Phillip Securities lowered shares of Alphabet from a "strong-buy" rating to a "moderate buy" rating in a report on Monday. Three research analysts have rated the stock with a Strong Buy rating, thirty-two have given a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat, Alphabet currently has an average rating of "Moderate Buy" and a consensus target price of $221.44.
Get Our Latest Stock Report on Alphabet
Insider Buying and Selling at Alphabet
In related news, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $199.92, for a total value of $6,497,400.00. Following the transaction, the chief executive officer directly owned 2,462,392 shares of the company's stock, valued at approximately $492,281,408.64. This trade represents a 1.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John Kent Walker sold 23,820 shares of Alphabet 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 transaction, the insider 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 disclosure for this sale can be found here. Insiders have sold a total of 254,710 shares of company stock valued at $49,208,380 over the last three months. Insiders own 11.64% of the company's stock.
Alphabet Stock Down 0.2%
GOOGL stock opened at $239.17 on Thursday. The company has a market cap of $2.89 trillion, a price-to-earnings ratio of 25.47, a P/E/G ratio of 1.61 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. The business's 50-day moving average is $199.43 and its two-hundred day moving average is $176.61. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $241.66.
Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings results 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 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 analyst estimates of $93.60 billion. As a group, analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.
Alphabet Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet's dividend payout ratio is currently 8.95%.
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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