Los Angeles Capital Management LLC Has $412.65 Million Stake in Alphabet Inc. (NASDAQ:GOOG)

Los Angeles Capital Management LLC cut its stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 6.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,641,292 shares of the information services provider's stock after selling 167,830 shares during the period. Alphabet comprises about 1.8% of Los Angeles Capital Management LLC's investment portfolio, making the stock its 10th largest position. Los Angeles Capital Management LLC's holdings in Alphabet were worth $412,649,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. 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 valued at $26,000 after buying an additional 85 shares in the last quarter. MorganRosel Wealth Management LLC purchased a new position in shares of Alphabet in the 1st quarter valued at approximately $26,000. LSV Asset Management purchased a new position in shares of Alphabet in the 4th quarter valued at approximately $27,000. Goodman Advisory Group LLC purchased a new position in shares of Alphabet in the 1st quarter valued at approximately $32,000. Finally, WealthTrak Capital Management LLC purchased a new position in shares of Alphabet in the 4th quarter valued at approximately $38,000. 27.26% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on GOOG shares. Oppenheimer reissued an "outperform" rating and set a $220.00 price target (up from $200.00) on shares of Alphabet in a research report on Wednesday, July 9th. Lake Street Capital reaffirmed a "buy" rating on shares of Alphabet in a report on Wednesday, July 9th. KeyCorp cut their target price on shares of Alphabet from $202.00 to $185.00 and set an "overweight" rating for the company in a report on Wednesday, April 9th. Wells Fargo & Company reaffirmed an "equal weight" rating on shares of Alphabet in a report on Wednesday, July 9th. Finally, The Goldman Sachs Group reaffirmed a "buy" rating and set a $220.00 target price on shares of Alphabet in a report on Monday, June 2nd. Three analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have issued a buy rating and five have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $208.40.

Alphabet Stock Up 0.7%

Alphabet stock traded up $1.24 during mid-day trading on Friday, hitting $185.94. The company had a trading volume of 20,915,424 shares, compared to its average volume of 21,587,144. The stock has a market cap of $2.26 trillion, a price-to-earnings ratio of 20.73, a PEG ratio of 1.30 and a beta of 1.01. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $208.70. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.03. The business has a fifty day moving average of $174.02 and a 200 day moving average of $174.61.

Alphabet (NASDAQ:GOOG - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.79. The company had revenue of $90.23 billion for the quarter, compared to analysts' expectations of $89.30 billion. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. Alphabet's revenue was up 12.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.89 EPS. On average, sell-side analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were given a $0.21 dividend. The ex-dividend date was Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.45%. This is a boost from Alphabet's previous quarterly dividend of $0.20. Alphabet's dividend payout ratio (DPR) is currently 9.36%.

Insider Activity

In other Alphabet news, Director John L. Hennessy sold 600 shares of Alphabet stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $105,000.00. Following the completion of the sale, the director owned 6,813 shares in the company, valued at $1,192,275. The trade was a 8.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $184.38, for a total value of $5,992,350.00. Following the completion of the transaction, the chief executive officer directly owned 2,527,392 shares in the company, valued at $466,000,536.96. This represents a 1.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 215,843 shares of company stock worth $37,288,490 over the last 90 days. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Company 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.