H&H International Investment LLC Reduces Stock Position in Alphabet Inc. $GOOG

Key Points

• H&H International Investment LLC significantly reduced its stake in Alphabet Inc. by 70.5%, leaving it with approximately 1.1 million shares valued at $173.5 million, now constituting 1.4% of its total holdings.
• Despite this reduction, several other institutional investors increased their positions in Alphabet during the same period, reflecting a 27.26% overall institutional ownership of the company's stock.
• Alphabet recently announced a quarterly dividend of $0.21 per share, representing an annualized dividend yield of 0.4%, with a payout ratio of 8.95%.

H&H International Investment LLC reduced its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 70.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,110,600 shares of the information services provider's stock after selling 2,655,900 shares during the quarter. Alphabet makes up about 1.4% of H&H International Investment LLC's holdings, making the stock its 6th largest position. H&H International Investment LLC's holdings in Alphabet were worth $173,509,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Principia Wealth Advisory LLC boosted its holdings in shares of Alphabet by 111.8% in the 1st quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock worth $26,000 after purchasing an additional 85 shares in the last quarter. MorganRosel Wealth Management LLC bought a new position in Alphabet during the 1st quarter valued at approximately $26,000. Goodman Advisory Group LLC bought a new position in shares of Alphabet in the 1st quarter worth approximately $32,000. Greykasell Wealth Strategies Inc. bought a new position in shares of Alphabet in the 1st quarter worth approximately $32,000. Finally, Elevate Wealth Advisory Inc. bought a new position in shares of Alphabet in the 1st quarter worth approximately $34,000. 27.26% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on GOOG shares. Barclays restated a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. Cowen restated a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. The Goldman Sachs Group reiterated a "buy" rating and set a $220.00 target price on shares of Alphabet in a research report on Monday, June 2nd. Piper Sandler reiterated a "neutral" rating on shares of Alphabet in a research report on Wednesday, July 9th. Finally, Citizens Jmp upgraded Alphabet from a "hold" rating to a "strong-buy" rating in a research report on Thursday, June 26th. Five analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $227.56.

Insiders Place Their Bets

In related news, insider John Kent Walker sold 23,820 shares of Alphabet stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $194.70, for a total value of $4,637,754.00. Following the completion of the transaction, the insider owned 42,999 shares in the company, valued at $8,371,905.30. The trade was a 35.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John L. Hennessy sold 1,000 shares of Alphabet stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $200.00, for a total value of $200,000.00. Following the completion of the sale, the director owned 6,916 shares in the company, valued at approximately $1,383,200. The trade was a 12.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 222,210 shares of company stock worth $41,742,155 in the last 90 days. 12.99% of the stock is currently owned by company insiders.

Alphabet Stock Up 9.0%

Alphabet stock opened at $231.10 on Thursday. The business has a fifty day moving average of $194.34 and a two-hundred day moving average of $176.23. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The firm has a market cap of $2.79 trillion, a P/E ratio of 24.61, a P/E/G ratio of 1.44 and a beta of 1.01. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $231.80.

Alphabet (NASDAQ:GOOG - Get Free Report) last issued its quarterly earnings data 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. 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%.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 posted $1.89 EPS. On average, analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

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

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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