Hamilton Point Investment Advisors LLC Sells 3,524 Shares of Alphabet Inc. $GOOG

Key Points

• Hamilton Point Investment Advisors LLC sold 3,524 shares of Alphabet Inc., reducing its holdings by 3.9% during the second quarter, which now accounts for about 2.5% of the firm's portfolio.
• Alphabet recently reported earnings of $2.31 per share for the quarter, exceeding estimates, with a 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, translating to an annual yield of 0.3%, with the dividend payout ratio currently at 8.95%.

Hamilton Point Investment Advisors LLC decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 3.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 86,549 shares of the information services provider's stock after selling 3,524 shares during the period. Alphabet makes up about 2.5% of Hamilton Point Investment Advisors LLC's portfolio, making the stock its 8th largest position. Hamilton Point Investment Advisors LLC's holdings in Alphabet were worth $15,353,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. MorganRosel Wealth Management LLC purchased a new stake in shares of Alphabet in the first quarter valued at about $26,000. IFS Advisors LLC raised its holdings in shares of Alphabet by 400.0% in the second quarter. IFS Advisors LLC now owns 150 shares of the information services provider's stock valued at $27,000 after purchasing an additional 120 shares during the last quarter. Robbins Farley raised its holdings in shares of Alphabet by 60.0% in the second quarter. Robbins Farley now owns 160 shares of the information services provider's stock valued at $28,000 after purchasing an additional 60 shares during the last quarter. WestEnd Advisors LLC raised its holdings in shares of Alphabet by 58.7% in the second quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider's stock valued at $29,000 after purchasing an additional 61 shares during the last quarter. Finally, Goodman Advisory Group LLC purchased a new stake in shares of Alphabet in the first quarter valued at about $32,000. Institutional investors and hedge funds own 27.26% of the company's stock.

Alphabet Price Performance

GOOG opened at $253.79 on Friday. The firm has a market cap of $3.07 trillion, a P/E ratio of 27.03, a PEG ratio of 1.70 and a beta of 1.00. The firm has a 50-day moving average of $232.18 and a 200 day moving average of $192.73. 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 fifty-two week low of $142.66 and a fifty-two week high of $257.58.

Alphabet (NASDAQ:GOOG - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share 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 analyst estimates of $93.67 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The company's quarterly revenue was up 13.8% on a year-over-year basis. During the same quarter last year, the business earned $1.89 earnings per share. On average, research analysts expect that Alphabet Inc. will post 8.89 EPS 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 given 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 was Monday, September 8th. Alphabet's dividend payout ratio (DPR) is currently 8.95%.

Insider Buying and Selling at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $249.50, for a total transaction of $8,108,750.00. Following the completion of the transaction, the chief executive officer owned 2,397,392 shares in the company, valued at $598,149,304. This trade represents a 1.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider John Kent Walker sold 23,820 shares of the stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the transaction, the insider owned 42,999 shares of the company's stock, valued at $8,371,905.30. This represents a 35.65% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 243,372 shares of company stock worth $55,110,740 over the last ninety days. Company insiders own 12.99% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on GOOG. Morgan Stanley increased their target price on shares of Alphabet from $210.00 to $270.00 and gave the company an "overweight" rating in a report on Thursday, October 2nd. KeyCorp set a $265.00 target price on shares of Alphabet in a report on Wednesday, September 3rd. Scotiabank restated an "outperform" rating and set a $310.00 price target on shares of Alphabet in a research report on Thursday. Weiss Ratings restated a "buy (b)" rating on shares of Alphabet in a research report on Wednesday, October 8th. Finally, Citizens Jmp upgraded shares of Alphabet from a "hold" rating to a "strong-buy" rating in a research report on Thursday, June 26th. Six research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, Alphabet has an average rating of "Moderate Buy" and an average price target of $244.68.

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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