Price T Rowe Associates Inc. MD Has $12.10 Billion Holdings in Alphabet Inc. $GOOG

Key Points

• Price T Rowe Associates Inc. has reduced its shares in Alphabet Inc. by 2.9%, now holding approximately $12.10 billion worth, which accounts for 1.5% of its portfolio.
• Alphabet reported a quarterly revenue of $96.43 billion, exceeding analyst expectations, and a net profit margin of 31.12% with an EPS of $2.31.
• The company will pay a quarterly dividend of $0.21 to shareholders, representing an annualized dividend yield of 0.4% and a payout ratio of 8.95%.

Price T Rowe Associates Inc. MD cut its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 2.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 77,465,777 shares of the information services provider's stock after selling 2,321,073 shares during the quarter. Alphabet makes up about 1.5% of Price T Rowe Associates Inc. MD's holdings, making the stock its 9th biggest position. Price T Rowe Associates Inc. MD owned about 0.64% of Alphabet worth $12,102,480,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. JDM Financial Group LLC grew its stake in Alphabet by 10.6% in the 4th quarter. JDM Financial Group LLC now owns 593 shares of the information services provider's stock valued at $113,000 after buying an additional 57 shares during the last quarter. Objectivity Squared LLC grew its stake in Alphabet by 0.4% in the 1st quarter. Objectivity Squared LLC now owns 16,342 shares of the information services provider's stock valued at $2,605,000 after buying an additional 62 shares during the last quarter. Tranquility Partners LLC grew its stake in Alphabet by 0.4% in the 1st quarter. Tranquility Partners LLC now owns 14,488 shares of the information services provider's stock valued at $2,263,000 after buying an additional 63 shares during the last quarter. Stonebridge Financial Group LLC grew its stake in Alphabet by 0.6% in the 1st quarter. Stonebridge Financial Group LLC now owns 10,648 shares of the information services provider's stock valued at $1,664,000 after buying an additional 64 shares during the last quarter. Finally, True Wealth Design LLC grew its stake in Alphabet by 28.5% in the 4th quarter. True Wealth Design LLC now owns 293 shares of the information services provider's stock valued at $56,000 after buying an additional 65 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Price Performance

GOOG stock traded up $3.4470 during trading on Monday, hitting $210.1670. 12,632,009 shares of the stock traded hands, compared to its average volume of 23,663,623. The company has a 50 day simple moving average of $187.71 and a 200 day simple moving average of $174.60. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The stock has a market cap of $2.54 trillion, a price-to-earnings ratio of 22.38, a P/E/G ratio of 1.39 and a beta of 1.02. Alphabet Inc. has a one year low of $142.66 and a one year high of $211.09.

Alphabet (NASDAQ:GOOG - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping analysts' consensus estimates of $2.12 by $0.19. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The company had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.67 billion. During the same period in the previous year, the firm posted $1.89 earnings per share. The company's revenue was up 13.8% on a year-over-year basis. Equities analysts expect that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Dividend Announcement

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

Analyst Ratings Changes

Several analysts have issued reports on GOOG shares. Scotiabank raised their price target on shares of Alphabet from $200.00 to $240.00 and gave the stock a "sector outperform" rating in a research report on Tuesday, July 22nd. Wells Fargo & Company restated an "equal weight" rating on shares of Alphabet in a research report on Wednesday, July 9th. Pivotal Research raised their price target on shares of Alphabet from $225.00 to $245.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Tigress Financial restated a "strong-buy" rating on shares of Alphabet in a research report on Friday, May 2nd. Finally, The Goldman Sachs Group restated a "buy" rating and issued a $220.00 price target on shares of Alphabet in a research report on Monday, June 2nd. Five equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Alphabet presently has a consensus rating of "Moderate Buy" and a consensus target price of $215.19.

Insider Buying and Selling at Alphabet

In related news, Director Kavitark Ram Shriram sold 15,000 shares of the business's stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $185.76, for a total transaction of $2,786,400.00. Following the completion of the sale, the director directly owned 240,400 shares of the company's stock, valued at $44,656,704. The trade was a 5.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director John L. Hennessy sold 600 shares of the business's stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $203.79, for a total transaction of $122,274.00. Following the sale, the director directly owned 6,316 shares of the company's stock, valued at approximately $1,287,137.64. This trade represents a 8.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 254,719 shares of company stock valued at $47,223,172. 12.99% of the stock is currently owned by corporate insiders.

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.