Mountain Pacific Investment Advisers LLC cut its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 40.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,900 shares of the information services provider's stock after selling 1,300 shares during the period. Mountain Pacific Investment Advisers LLC's holdings in Alphabet were worth $335,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently modified their holdings of the company. Brighton Jones LLC grew its position in shares of Alphabet by 3.9% in the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider's stock valued at $20,886,000 after buying an additional 4,110 shares during the last quarter. Revolve Wealth Partners LLC grew its position in shares of Alphabet by 3.5% in the 4th quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider's stock valued at $2,826,000 after buying an additional 506 shares during the last quarter. Rhumbline Advisers grew its position in shares of Alphabet by 0.8% in the 1st quarter. Rhumbline Advisers now owns 11,267,743 shares of the information services provider's stock valued at $1,742,444,000 after buying an additional 86,670 shares during the last quarter. Courier Capital LLC grew its position in shares of Alphabet by 20.8% in the 1st quarter. Courier Capital LLC now owns 21,220 shares of the information services provider's stock valued at $3,281,000 after buying an additional 3,653 shares during the last quarter. Finally, Shorepath Capital Management LLC grew its position in shares of Alphabet by 16.8% in the 1st quarter. Shorepath Capital Management LLC now owns 29,824 shares of the information services provider's stock valued at $4,612,000 after buying an additional 4,290 shares during the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.
Insider Activity at Alphabet
In other news, insider John Kent Walker sold 17,816 shares of Alphabet stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the completion of the sale, the insider directly owned 42,985 shares in the company, valued at approximately $10,635,348.70. This trade represents a 29.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John L. Hennessy sold 600 shares of Alphabet stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $249.44, for a total transaction of $149,664.00. Following the sale, the director owned 5,716 shares of the company's stock, valued at approximately $1,425,799.04. The trade was a 9.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 276,738 shares of company stock worth $59,135,475. 11.55% of the stock is currently owned by company insiders.
Alphabet Price Performance
Shares of NASDAQ:GOOGL opened at $245.76 on Wednesday. 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 company has a market cap of $2.97 trillion, a P/E ratio of 26.17, a PEG ratio of 1.69 and a beta of 1.00. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $256.00. The company has a 50-day moving average price of $223.41 and a 200 day moving average price of $187.13.
Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating analysts' consensus estimates of $2.15 by $0.16. The firm had revenue of $96.43 billion during 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%. Research analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.
Alphabet Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders 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 dividend yield of 0.3%. The ex-dividend date was Monday, September 8th. Alphabet's dividend payout ratio (DPR) is presently 8.95%.
Analyst Ratings Changes
A number of analysts recently weighed in on GOOGL shares. Jefferies Financial Group increased their price target on shares of Alphabet from $230.00 to $285.00 and gave the stock a "buy" rating in a research note on Thursday, October 2nd. Roth Capital increased their price target on shares of Alphabet from $205.00 to $210.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. JMP Securities increased their price target on shares of Alphabet from $250.00 to $290.00 and gave the stock a "market outperform" rating in a research note on Friday, September 19th. Needham & Company LLC increased their price target on shares of Alphabet from $220.00 to $260.00 and gave the stock a "buy" rating in a research note on Wednesday, September 3rd. Finally, JPMorgan Chase & Co. increased their price target on shares of Alphabet from $200.00 to $232.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $242.98.
View Our Latest Stock Analysis on Alphabet
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.
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