Fox Hill Wealth Management Has $234,000 Position in Alphabet Inc. $GOOG

Key Points

• Fox Hill Wealth Management significantly reduced its stake in Alphabet Inc. by 92.2%, owning only 1,319 shares after selling 15,600 shares during the second quarter.
• Despite the reduction in holdings by some investors, several hedge funds increased their positions in Alphabet, with Principia Wealth Advisory LLC boosting its stake by 111.8%.
• Alphabet announced a quarterly dividend of $0.21 per share, with an annualized yield of 0.3%, set to be paid on September 15th to stockholders of record by September 8th.

Fox Hill Wealth Management reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 92.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,319 shares of the information services provider's stock after selling 15,600 shares during the quarter. Fox Hill Wealth Management's holdings in Alphabet were worth $234,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. JDM Financial Group LLC raised its stake in Alphabet by 10.6% during the fourth quarter. JDM Financial Group LLC now owns 593 shares of the information services provider's stock worth $113,000 after acquiring an additional 57 shares in the last quarter. NCM Capital Management LLC raised its stake in Alphabet by 2.2% during the first quarter. NCM Capital Management LLC now owns 2,802 shares of the information services provider's stock worth $438,000 after acquiring an additional 60 shares in the last quarter. Faithward Advisors LLC raised its stake in Alphabet by 2.5% during the first quarter. Faithward Advisors LLC now owns 2,505 shares of the information services provider's stock worth $391,000 after acquiring an additional 61 shares in the last quarter. Objectivity Squared LLC raised its stake in Alphabet by 0.4% during the first quarter. Objectivity Squared LLC now owns 16,342 shares of the information services provider's stock worth $2,605,000 after acquiring an additional 62 shares in the last quarter. Finally, Tranquility Partners LLC raised its stake in Alphabet by 0.4% during the first quarter. Tranquility Partners LLC now owns 14,488 shares of the information services provider's stock worth $2,263,000 after acquiring an additional 63 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Piper Sandler reiterated a "neutral" rating on shares of Alphabet in a research note on Wednesday, July 9th. Phillip Securities lowered Alphabet from a "strong-buy" rating to a "moderate buy" rating in a research note on Monday, September 8th. UBS Group raised their target price on Alphabet from $186.00 to $192.00 and gave the company a "neutral" rating in a research note on Wednesday, July 16th. Raymond James Financial restated an "outperform" rating and issued a $210.00 target price (up from $185.00) on shares of Alphabet in a research note on Thursday, July 24th. Finally, The Goldman Sachs Group restated a "buy" rating and issued a $220.00 target price on shares of Alphabet in a research note on Monday, June 2nd. Four research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $227.56.

Insider Transactions at Alphabet

In other news, Director John L. Hennessy sold 1,000 shares of the business's stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $200.00, for a total transaction of $200,000.00. Following the completion of the transaction, the director directly owned 6,916 shares in the company, valued at approximately $1,383,200. The trade was a 12.63% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kavitark Ram Shriram sold 18,566 shares of the business's stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $3,448,820.16. Following the transaction, the director 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 disclosure for this sale can be found here. Insiders have sold 254,710 shares of company stock worth $49,208,380 in the last ninety days. 12.99% of the stock is currently owned by insiders.

Alphabet Price Performance

Shares of NASDAQ:GOOG traded up $0.60 during midday trading on Friday, reaching $241.38. The company's stock had a trading volume of 14,519,054 shares, compared to its average volume of 22,296,040. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $242.57. The company has a market capitalization of $2.92 trillion, a P/E ratio of 25.71, a P/E/G ratio of 1.62 and a beta of 1.01. 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 business's fifty day simple moving average is $202.67 and its 200-day simple moving average is $178.92.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its quarterly earnings results 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 business had revenue of $96.43 billion for the quarter, compared to analysts' expectations of $93.67 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The firm's quarterly revenue was up 13.8% compared to the same quarter last year. During the same quarter last year, the business earned $1.89 earnings per share. As a group, equities research analysts expect that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently declared 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 is Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.3%. Alphabet's dividend payout ratio (DPR) is currently 8.95%.

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.