Timucuan Asset Management Inc. FL Lowers Position in Alphabet Inc. $GOOG

Key Points

• Timucuan Asset Management Inc. FL reduced its stake in Alphabet Inc. by 0.8% to hold 792,054 shares, valued at $123.74 million, making it the firm's 12th largest holding.
• Insiders at Alphabet, including Directors John L. Hennessy and Kavitark Ram Shriram, have recently sold significant portions of their shares, with Hennessy selling 1,000 shares and Shriram selling 18,566 shares, indicating a decrease in their positions.
• Alphabet reported a strong quarterly earnings performance, with an EPS of $2.31, exceeding estimates, and declared a quarterly dividend of $0.21, reflecting a yield of 0.4%.

Timucuan Asset Management Inc. FL decreased its stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 0.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 792,054 shares of the information services provider's stock after selling 6,787 shares during the period. Alphabet makes up 3.8% of Timucuan Asset Management Inc. FL's investment portfolio, making the stock its 12th largest holding. Timucuan Asset Management Inc. FL's holdings in Alphabet were worth $123,743,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Principia Wealth Advisory LLC boosted its holdings in Alphabet by 111.8% during the first quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock worth $26,000 after buying an additional 85 shares in the last quarter. MorganRosel Wealth Management LLC purchased a new position in shares of Alphabet during the first quarter valued at approximately $26,000. Greykasell Wealth Strategies Inc. purchased a new position in shares of Alphabet during the first quarter valued at approximately $32,000. Goodman Advisory Group LLC acquired a new position in Alphabet during the first quarter worth approximately $32,000. Finally, Elevate Wealth Advisory Inc. acquired a new position in Alphabet during the first quarter worth approximately $34,000. Hedge funds and other institutional investors own 27.26% of the company's stock.

Insider Buying and Selling at Alphabet

In related news, Director John L. Hennessy sold 1,000 shares of the stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $200.00, for a total value of $200,000.00. Following the sale, the director owned 6,916 shares of the company's stock, valued at $1,383,200. This trade represents a 12.63% 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 Kavitark Ram Shriram sold 18,566 shares of the stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the completion of the sale, the director directly owned 243,400 shares in the company, valued at approximately $45,213,984. This trade represents a 7.09% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 254,719 shares of company stock valued at $47,223,172. Corporate insiders own 12.99% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on GOOG shares. Barclays reaffirmed a "buy" rating on shares of Alphabet in a research report on Wednesday, July 9th. Citizens Jmp raised shares of Alphabet from a "hold" rating to a "strong-buy" rating in a research report on Thursday, June 26th. Pivotal Research upped 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. UBS Group increased their price objective on shares of Alphabet from $186.00 to $192.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 16th. Finally, Cowen reissued a "buy" rating on shares of Alphabet in a research report on Wednesday, July 9th. Five analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, Alphabet currently has an average rating of "Moderate Buy" and a consensus target price of $215.19.

Alphabet Trading Up 0.1%

NASDAQ GOOG opened at $208.21 on Thursday. The company's fifty day moving average price is $189.63 and its two-hundred day moving average price is $175.22. 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 Inc. has a 12 month low of $142.66 and a 12 month high of $211.09. The company has a market capitalization of $2.52 trillion, a price-to-earnings ratio of 22.17, a price-to-earnings-growth ratio of 1.40 and a beta of 1.02.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) 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 for the quarter, compared to the consensus estimate of $93.67 billion. During the same period last year, the firm posted $1.89 EPS. The company's revenue for the quarter was up 13.8% on a year-over-year basis. As a group, research analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Monday, September 8th. Alphabet's dividend payout ratio (DPR) is presently 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.

Want to see what other hedge funds are holding GOOG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.