Geometric Wealth Advisors Has $688,000 Stake in Alphabet Inc. (NASDAQ:GOOG)

Key Points

• Geometric Wealth Advisors reduced its stake in Alphabet Inc. by 29.1%, holding 4,403 shares after selling 1,809 shares, valued at approximately $688,000.
• Alphabet reported earnings of $2.31 per share, exceeding estimates, with revenue of $96.43 billion, marking a year-over-year increase of 13.8%.
• The company announced a quarterly dividend of $0.21 per share, with a current annualized yield of 0.4% and a payout ratio of 8.95%.

Geometric Wealth Advisors reduced its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 29.1% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 4,403 shares of the information services provider's stock after selling 1,809 shares during the period. Geometric Wealth Advisors' holdings in Alphabet were worth $688,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Alphabet by 2.4% during 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 buying an additional 9,687,855 shares during the period. Capital International Investors lifted its position in Alphabet by 6.7% during the fourth quarter. Capital International Investors now owns 91,236,069 shares of the information services provider's stock worth $17,376,706,000 after acquiring an additional 5,758,244 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of Alphabet by 16.1% during the fourth quarter. Northern Trust Corp now owns 57,098,042 shares of the information services provider's stock worth $10,873,751,000 after acquiring an additional 7,917,625 shares during the period. Capital Research Global Investors grew its position in shares of Alphabet by 0.8% in the fourth quarter. Capital Research Global Investors now owns 39,148,500 shares of the information services provider's stock valued at $7,455,571,000 after purchasing an additional 294,556 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Alphabet by 2.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 34,103,417 shares of the information services provider's stock valued at $6,494,655,000 after purchasing an additional 769,335 shares during the last quarter. Institutional investors own 27.26% of the company's stock.

Wall Street Analyst Weigh In

GOOG has been the subject of several research reports. Scotiabank lifted their price target on Alphabet from $200.00 to $240.00 and gave the stock a "sector outperform" rating in a report on Tuesday, July 22nd. Needham & Company LLC downgraded Alphabet from a "buy" rating to a "cautious" rating in a report on Friday, May 2nd. Pivotal Research upped their price target on shares of Alphabet from $225.00 to $245.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Cowen reiterated a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. Finally, Rosenblatt Securities raised shares of Alphabet from a "hold" rating to a "strong-buy" rating in a report on Friday, April 25th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have assigned a buy rating and five have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Alphabet presently has a consensus rating of "Moderate Buy" and a consensus target price of $215.19.

Insider Activity at Alphabet

In other news, Director Kavitark Ram Shriram sold 15,000 shares of the stock in a transaction on Friday, July 18th. The stock was sold at an average price of $185.76, for a total value 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. This represents a 5.87% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $196.23, for a total value of $6,377,475.00. Following the sale, the chief executive officer directly owned 2,494,892 shares in the company, valued at approximately $489,572,657.16. This trade represents a 1.29% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 273,219 shares of company stock worth $49,474,273. Corporate insiders own 12.99% of the company's stock.

Alphabet Price Performance

NASDAQ:GOOG traded up $0.36 during trading hours on Thursday, hitting $197.28. The company's stock had a trading volume of 14,292,926 shares, compared to its average volume of 25,208,792. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $208.70. 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 stock has a fifty day simple moving average of $181.28 and a 200-day simple moving average of $174.68. The company has a market capitalization of $2.39 trillion, a P/E ratio of 21.01, a PEG ratio of 1.31 and a beta of 1.02.

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

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet's payout ratio is presently 8.95%.

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.