Fishman Jay A Ltd. MI Lowers Stock Holdings in Alphabet Inc. $GOOG

Key Points

• Fishman Jay A Ltd. MI reduced its stake in Alphabet Inc. by 4.8%, now owning 49,340 shares valued at approximately $8.75 million.
• Other hedge funds such as Kingstone Capital Partners and Vanguard Group increased their positions in Alphabet, with Kingstone raising its holdings by an astounding 580,897.4%.
• In Q2, Alphabet posted a 13.8% increase in revenue year-over-year, reporting earnings of $2.31 EPS, exceeding analysts' expectations of $2.12.

Fishman Jay A Ltd. MI trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 4.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 49,340 shares of the information services provider's stock after selling 2,500 shares during the period. Alphabet makes up approximately 0.8% of Fishman Jay A Ltd. MI's holdings, making the stock its 24th largest position. Fishman Jay A Ltd. MI's holdings in Alphabet were worth $8,752,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in GOOG. Kingstone Capital Partners Texas LLC raised its holdings in Alphabet by 580,897.4% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider's stock worth $23,963,208,000 after acquiring an additional 135,064,454 shares during the last quarter. Nuveen LLC purchased a new position in Alphabet in the 1st quarter worth approximately $2,622,943,000. Vanguard Group Inc. raised its holdings in Alphabet by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider's stock worth $64,299,725,000 after acquiring an additional 9,687,855 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Alphabet by 9.9% in the 1st quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider's stock worth $15,971,861,000 after acquiring an additional 9,243,959 shares during the last quarter. Finally, Strs Ohio purchased a new position in Alphabet in the 1st quarter worth approximately $369,713,000. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O'toole sold 953 shares of the stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $241.20, for a total value of $229,863.60. Following the completion of the sale, the chief accounting officer owned 17,294 shares in the company, valued at approximately $4,171,312.80. This represents a 5.22% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider John Kent Walker sold 17,816 shares of the stock in a transaction on Monday, September 29th. The stock was sold at an average price of $247.42, for a total value of $4,408,034.72. Following the completion of the sale, the insider owned 42,985 shares of the company's stock, valued at $10,635,348.70. The trade was a 29.30% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 276,738 shares of company stock worth $59,135,475 in the last three months. 12.99% of the stock is owned by company insiders.

Alphabet Trading Down 0.7%

NASDAQ:GOOG opened at $245.46 on Thursday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The firm has a market capitalization of $2.97 trillion, a price-to-earnings ratio of 26.14, a price-to-earnings-growth ratio of 1.67 and a beta of 1.00. Alphabet Inc. has a one year low of $142.66 and a one year high of $256.70. The business has a fifty day moving average price of $225.03 and a 200-day moving average price of $188.71.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping the consensus estimate of $2.12 by $0.19. The firm had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.67 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.Alphabet's revenue was up 13.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.89 EPS. Sell-side analysts forecast that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Dividend Announcement

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

Analyst Ratings Changes

GOOG has been the subject of a number of recent analyst reports. Roth Capital restated a "buy" rating on shares of Alphabet in a report on Wednesday, July 9th. Pivotal Research boosted their target price on shares of Alphabet from $245.00 to $300.00 and gave the company a "buy" rating in a research note on Wednesday, September 3rd. Scotiabank boosted their target price on shares of Alphabet from $200.00 to $240.00 and gave the company a "sector outperform" rating in a research note on Tuesday, July 22nd. UBS Group boosted their target price on shares of Alphabet from $186.00 to $192.00 and gave the company a "neutral" rating in a research note on Wednesday, July 16th. Finally, Cowen reiterated a "buy" rating on shares of Alphabet in a research note on Wednesday. Six equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $237.68.

Alphabet 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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