Hoertkorn Richard Charles trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 2.2% in the second quarter, according to its most recent filing with the SEC. The firm owned 67,564 shares of the information services provider's stock after selling 1,515 shares during the period. Alphabet makes up about 5.0% of Hoertkorn Richard Charles' investment portfolio, making the stock its 8th biggest position. Hoertkorn Richard Charles' holdings in Alphabet were worth $11,907,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in GOOGL. Nuveen LLC bought a new position in shares of Alphabet during the 1st quarter worth about $4,317,606,000. GAMMA Investing LLC lifted its holdings in shares of Alphabet by 16,993.2% during the 1st quarter. GAMMA Investing LLC now owns 16,062,457 shares of the information services provider's stock worth $2,483,898,000 after acquiring an additional 15,968,487 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Alphabet by 2.9% during the 1st quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider's stock worth $78,839,544,000 after acquiring an additional 14,307,345 shares during the period. Assenagon Asset Management S.A. lifted its holdings in shares of Alphabet by 307.6% during the 1st quarter. Assenagon Asset Management S.A. now owns 10,302,644 shares of the information services provider's stock worth $1,593,201,000 after acquiring an additional 7,774,811 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Alphabet during the 4th quarter worth about $1,375,509,000. 40.03% of the stock is owned by institutional investors.
Insider Activity at Alphabet
In other Alphabet news, insider John Kent Walker sold 23,820 shares of the stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the completion of the sale, the insider owned 42,999 shares of the company's stock, valued at approximately $8,371,905.30. This represents a 35.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John L. Hennessy sold 1,000 shares of the stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $200.00, for a total transaction of $200,000.00. Following the sale, the director directly owned 6,916 shares of the company's stock, valued at $1,383,200. This represents a 12.63% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 254,710 shares of company stock worth $49,208,380 over the last three months. 11.55% of the stock is owned by insiders.
Alphabet Price Performance
NASDAQ:GOOGL opened at $240.80 on Monday. Alphabet Inc. has a one year low of $140.53 and a one year high of $242.25. The company has a market cap of $2.91 trillion, a P/E ratio of 25.64, a P/E/G ratio of 1.62 and a beta of 1.01. The firm's fifty day moving average price is $201.89 and its two-hundred day moving average price is $177.58. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90.
Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating the consensus estimate of $2.15 by $0.16. The firm had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.60 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. Equities analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current year.
Alphabet Announces Dividend
The business also recently announced 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 of this dividend is Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. Alphabet's dividend payout ratio is 8.95%.
Analyst Ratings Changes
A number of equities research analysts recently issued reports on GOOGL shares. Wedbush increased their target price on shares of Alphabet from $225.00 to $245.00 and gave the stock an "outperform" rating in a research report on Wednesday, September 3rd. BNP Paribas Exane reiterated a "neutral" rating and set a $172.00 target price on shares of Alphabet in a research report on Friday, June 27th. Phillip Securities cut shares of Alphabet from a "strong-buy" rating to a "moderate buy" rating in a research report on Monday, September 8th. Royal Bank Of Canada increased their target price on shares of Alphabet from $220.00 to $260.00 and gave the stock an "outperform" rating in a research report on Wednesday, September 3rd. Finally, JPMorgan Chase & Co. increased their target price on shares of Alphabet from $200.00 to $232.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Three research analysts have rated the stock with a Strong Buy rating, thirty-two have assigned a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $221.44.
Check Out Our Latest Report on GOOGL
About Alphabet
(
Free Report)
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.
Further Reading
Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGL - Free Report).
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