General Partner Inc. Has $6.51 Million Position in Alphabet Inc. $GOOG

Key Points

• General Partner Inc. reduced its holdings in Alphabet Inc. by 5.2% in Q2, now holding shares worth approximately $6.51 million. Alphabet is the fund's 5th largest position, making up 3.8% of its portfolio.
• In Q2, several institutional investors increased their stakes in Alphabet, including Modus Advisors LLC and Nova Wealth Management Inc., with the company now having 27.26% of its stock owned by institutional investors.
• Alphabet recently reported a $2.31 EPS for its latest quarter, exceeding expectations, with a net margin of 31.12% and quarterly revenue growth of 13.8% year-over-year.

General Partner Inc. lowered its holdings in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 5.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 36,679 shares of the information services provider's stock after selling 2,000 shares during the quarter. Alphabet accounts for about 3.8% of General Partner Inc.'s portfolio, making the stock its 5th largest position. General Partner Inc.'s holdings in Alphabet were worth $6,506,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Modus Advisors LLC lifted its holdings in shares of Alphabet by 0.6% in the 2nd quarter. Modus Advisors LLC now owns 39,927 shares of the information services provider's stock worth $7,083,000 after acquiring an additional 254 shares during the last quarter. Insight Wealth Strategies LLC lifted its holdings in shares of Alphabet by 1.0% in the 2nd quarter. Insight Wealth Strategies LLC now owns 11,996 shares of the information services provider's stock worth $2,122,000 after acquiring an additional 120 shares during the last quarter. Greenfield Savings Bank lifted its holdings in shares of Alphabet by 2.1% in the 2nd quarter. Greenfield Savings Bank now owns 26,233 shares of the information services provider's stock worth $4,653,000 after acquiring an additional 536 shares during the last quarter. Nova Wealth Management Inc. lifted its holdings in shares of Alphabet by 28.1% in the 2nd quarter. Nova Wealth Management Inc. now owns 510 shares of the information services provider's stock worth $90,000 after acquiring an additional 112 shares during the last quarter. Finally, OMNI 360 Wealth Inc. lifted its holdings in shares of Alphabet by 12.3% in the 2nd quarter. OMNI 360 Wealth Inc. now owns 5,416 shares of the information services provider's stock worth $961,000 after acquiring an additional 594 shares during the last quarter. Institutional investors own 27.26% of the company's stock.

Alphabet Trading Up 0.2%

NASDAQ:GOOG opened at $241.38 on Friday. Alphabet Inc. has a one year low of $142.66 and a one year high of $242.57. 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 firm has a market cap 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 firm has a 50-day simple moving average of $202.67 and a 200-day simple moving average of $178.86.

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

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders 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 dividend yield of 0.3%. Alphabet's payout ratio is currently 8.95%.

Insider Buying and Selling at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $229.73, for a total value of $7,466,225.00. Following the transaction, the chief executive officer owned 2,429,892 shares of the company's stock, valued at $558,219,089.16. The trade was a 1.32% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kavitark Ram Shriram sold 15,000 shares of Alphabet stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $185.76, for a total transaction of $2,786,400.00. Following the completion of the transaction, the director directly owned 240,400 shares in the company, valued at approximately $44,656,704. The trade was a 5.87% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 254,710 shares of company stock worth $49,208,380. 12.99% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on GOOG. Pivotal Research raised their target price on shares of Alphabet from $245.00 to $300.00 and gave the stock a "buy" rating in a report on Wednesday, September 3rd. Oppenheimer restated an "outperform" rating and issued a $270.00 target price (up previously from $235.00) on shares of Alphabet in a report on Wednesday, September 3rd. Lake Street Capital reiterated a "buy" rating on shares of Alphabet in a report on Wednesday, July 9th. Wells Fargo & Company reiterated an "equal weight" rating on shares of Alphabet in a report on Wednesday, July 9th. Finally, The Goldman Sachs Group reiterated a "buy" rating and set a $220.00 price objective on shares of Alphabet in a report on Monday, June 2nd. Four equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, five have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, Alphabet presently has a consensus rating of "Moderate Buy" and an average price target of $227.56.

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.

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