Maestria Partners LLC Has $7.09 Million Stake in Alphabet Inc. $GOOG

Key Points

• Maestria Partners LLC reduced its stake in Alphabet Inc. by 18.4%, holding approximately $7.09 million worth of shares as of the latest quarter.
• Analysts have issued positive outlooks for Alphabet, with target prices raised by firms like JPMorgan and Mizuho, suggesting a consensus target price of $241.00.
• CEO Sundar Pichai recently sold 32,500 shares of Alphabet stock for around $8.1 million, reducing his ownership stake by 1.34%.

Maestria Partners LLC trimmed its holdings in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 18.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 39,975 shares of the information services provider's stock after selling 9,025 shares during the period. Alphabet accounts for about 2.5% of Maestria Partners LLC's portfolio, making the stock its 14th biggest holding. Maestria Partners LLC's holdings in Alphabet were worth $7,091,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. RDA Financial Network increased its stake in shares of Alphabet by 5.3% during the second quarter. RDA Financial Network now owns 11,094 shares of the information services provider's stock worth $1,968,000 after purchasing an additional 554 shares during the period. Tower View Wealth Management LLC increased its stake in shares of Alphabet by 6.9% during the second quarter. Tower View Wealth Management LLC now owns 27,644 shares of the information services provider's stock worth $4,904,000 after purchasing an additional 1,776 shares during the period. Oldfather Financial Services LLC bought a new position in shares of Alphabet during the second quarter worth approximately $213,000. Truist Financial Corp increased its stake in shares of Alphabet by 0.4% during the second quarter. Truist Financial Corp now owns 3,626,927 shares of the information services provider's stock worth $643,381,000 after purchasing an additional 15,065 shares during the period. Finally, GC Wealth Management RIA LLC increased its stake in shares of Alphabet by 115.7% during the second quarter. GC Wealth Management RIA LLC now owns 214,392 shares of the information services provider's stock worth $38,031,000 after purchasing an additional 115,003 shares during the period. 27.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on GOOG shares. JPMorgan Chase & Co. increased their target price on Alphabet from $232.00 to $260.00 and gave the stock an "overweight" rating in a research note on Wednesday, September 3rd. Robert W. Baird increased their target price on Alphabet from $215.00 to $275.00 and gave the stock an "outperform" rating in a research note on Monday, September 22nd. Weiss Ratings restated a "buy (b)" rating on shares of Alphabet in a research note on Wednesday, October 8th. Mizuho upgraded Alphabet to a "strong-buy" rating in a research note on Monday, September 29th. Finally, TD Cowen raised their price objective on Alphabet from $270.00 to $280.00 and gave the stock a "buy" rating in a research note on Wednesday, October 8th. Six equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, Alphabet presently has a consensus rating of "Moderate Buy" and a consensus target price of $241.00.

Insider Buying and Selling

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $249.50, for a total transaction of $8,108,750.00. Following the transaction, the chief executive officer directly owned 2,397,392 shares of the company's stock, valued at approximately $598,149,304. The trade was a 1.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kavitark Ram Shriram sold 18,566 shares of Alphabet stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $3,448,820.16. Following the transaction, the director directly owned 243,400 shares in the company, valued at $45,213,984. The trade was a 7.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 244,438 shares of company stock valued at $53,216,085 over the last 90 days. 12.99% of the stock is owned by corporate insiders.

Alphabet Price Performance

Alphabet stock opened at $251.71 on Thursday. The stock's fifty day moving average price is $230.06 and its two-hundred day moving average price is $191.42. Alphabet Inc. has a one year low of $142.66 and a one year high of $256.70. 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 firm has a market cap of $3.04 trillion, a PE ratio of 26.81, a price-to-earnings-growth ratio of 1.66 and a beta of 1.00.

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, beating analysts' consensus estimates of $2.12 by $0.19. The firm had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.67 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The company's revenue was up 13.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.89 EPS. As a group, research analysts expect that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, September 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. Alphabet's dividend payout ratio (DPR) is 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.

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