Diamant Asset Management Inc. Has $6.34 Million Position in Alphabet Inc. $GOOGL

Key Points

• Diamant Asset Management Inc. reduced its holdings in Alphabet Inc. by 2.9%, owning 35,954 shares valued at approximately $6.34 million, making it the 5th largest holding in their portfolio.
• Alphabet reported a net margin of 31.12% and a return on equity of 34.31% for the last quarter, exceeding revenue estimates with $96.43 billion.
• The company issued a quarterly dividend of $0.21 per share, resulting in an annualized yield of 0.3%, and the dividend's payout ratio stands at 8.95%.

Diamant Asset Management Inc. decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 2.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 35,954 shares of the information services provider's stock after selling 1,080 shares during the period. Alphabet comprises 4.8% of Diamant Asset Management Inc.'s portfolio, making the stock its 5th biggest holding. Diamant Asset Management Inc.'s holdings in Alphabet were worth $6,336,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its stake in shares of Alphabet by 3.9% in the fourth quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider's stock valued at $20,886,000 after acquiring an additional 4,110 shares during the last quarter. Revolve Wealth Partners LLC raised its stake in shares of Alphabet by 3.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider's stock valued at $2,826,000 after acquiring an additional 506 shares during the last quarter. Rhumbline Advisers raised its stake in shares of Alphabet by 0.8% in the first quarter. Rhumbline Advisers now owns 11,267,743 shares of the information services provider's stock valued at $1,742,444,000 after acquiring an additional 86,670 shares during the last quarter. Triangle Securities Wealth Management raised its stake in shares of Alphabet by 2.3% in the first quarter. Triangle Securities Wealth Management now owns 4,809 shares of the information services provider's stock valued at $744,000 after acquiring an additional 108 shares during the last quarter. Finally, Apella Capital LLC raised its stake in shares of Alphabet by 50.6% in the first quarter. Apella Capital LLC now owns 12,820 shares of the information services provider's stock valued at $2,035,000 after acquiring an additional 4,305 shares during the last quarter. Institutional investors own 40.03% of the company's stock.

Alphabet Price Performance

GOOGL opened at $244.90 on Thursday. The company has a fifty day moving average price of $219.14 and a two-hundred day moving average price of $184.66. 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 $140.53 and a 52 week high of $256.00. The firm has a market capitalization of $2.96 trillion, a PE ratio of 26.08, a P/E/G ratio of 1.64 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 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 analyst estimates of $93.60 billion. As a group, analysts anticipate 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 was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Monday, September 8th. Alphabet's payout ratio is currently 8.95%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on GOOGL shares. Sanford C. Bernstein lifted their target price on shares of Alphabet from $185.00 to $195.00 and gave the company a "market perform" rating in a research note on Tuesday, July 22nd. Needham & Company LLC lifted their target price on shares of Alphabet from $220.00 to $260.00 and gave the company a "buy" rating in a research note on Wednesday, September 3rd. Phillip Securities cut shares of Alphabet from a "strong-buy" rating to a "moderate buy" rating in a research report on Monday, September 8th. Truist Financial boosted their price objective on shares of Alphabet from $225.00 to $285.00 and gave the stock a "buy" rating in a research report on Monday, September 22nd. Finally, Roth Capital boosted their price objective on shares of Alphabet from $205.00 to $210.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Four research 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 company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $237.10.

Insider Activity

In other news, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $249.50, for a total value of $8,108,750.00. Following the completion of the transaction, the chief executive officer owned 2,397,392 shares of the company's stock, valued at $598,149,304. The trade was a 1.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John L. Hennessy sold 600 shares of the firm's stock in a transaction on Monday, September 15th. The stock was sold at an average price of $249.44, for a total value of $149,664.00. Following the sale, the director directly owned 5,716 shares in the company, valued at $1,425,799.04. The trade was a 9.50% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 243,285 shares of company stock worth $50,994,787. Corporate insiders own 11.64% of the company's stock.

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.

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