Tounjian Advisory Partners LLC Has $9.04 Million Stake in Alphabet Inc. $GOOGL

Key Points

• Tounjian Advisory Partners LLC has reduced its stake in Alphabet Inc. by 2.0% to $9.04 million, making Alphabet the 9th largest position in its investment portfolio.
• Various institutional investors, including Mirador Capital Partners and Baron Wealth Management, have increased their stakes in Alphabet, highlighting ongoing interest from large investors.
• Alphabet's quarterly earnings exceeded expectations, with an EPS of $2.31 and revenue of $96.43 billion, showing strong financial performance despite mixed analyst ratings on the stock.

Tounjian Advisory Partners LLC lessened its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 2.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 51,282 shares of the information services provider's stock after selling 1,052 shares during the quarter. Alphabet comprises about 1.6% of Tounjian Advisory Partners LLC's investment portfolio, making the stock its 9th largest position. Tounjian Advisory Partners LLC's holdings in Alphabet were worth $9,037,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Mirador Capital Partners LP increased its position in Alphabet by 3.3% in the second quarter. Mirador Capital Partners LP now owns 52,789 shares of the information services provider's stock worth $9,303,000 after purchasing an additional 1,670 shares during the period. Baron Wealth Management LLC boosted its stake in shares of Alphabet by 29.8% in the 2nd quarter. Baron Wealth Management LLC now owns 6,977 shares of the information services provider's stock valued at $1,230,000 after purchasing an additional 1,602 shares during the last quarter. Goelzer Investment Management Inc. boosted its stake in shares of Alphabet by 6.4% in the 2nd quarter. Goelzer Investment Management Inc. now owns 10,991 shares of the information services provider's stock valued at $1,937,000 after purchasing an additional 665 shares during the last quarter. David J Yvars Group grew its position in shares of Alphabet by 6.4% during the 2nd quarter. David J Yvars Group now owns 4,802 shares of the information services provider's stock worth $846,000 after buying an additional 290 shares during the period. Finally, Seneca House Advisors raised its stake in shares of Alphabet by 10.7% during the second quarter. Seneca House Advisors now owns 74,393 shares of the information services provider's stock worth $13,110,000 after buying an additional 7,215 shares during the last quarter. Institutional investors own 40.03% of the company's stock.

Alphabet Stock Up 1.1%

Shares of NASDAQ GOOGL traded up $2.69 during mid-day trading on Friday, hitting $254.72. The company had a trading volume of 55,452,697 shares, compared to its average volume of 38,316,584. 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 firm has a 50-day simple moving average of $209.36 and a two-hundred day simple moving average of $180.31. The company has a market capitalization of $3.08 trillion, a PE ratio of 27.13, a price-to-earnings-growth ratio of 1.70 and a beta of 1.01. Alphabet Inc. has a one year low of $140.53 and a one year high of $256.00.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating the consensus estimate of $2.15 by $0.16. The firm had revenue of $96.43 billion during the quarter, compared to analysts' expectations of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. On average, equities analysts expect that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The company also recently announced 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. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date was Monday, September 8th. Alphabet's payout ratio is presently 8.95%.

Analyst Ratings Changes

A number of equities analysts have issued reports on GOOGL shares. Westpark Capital raised their price objective on shares of Alphabet from $210.00 to $220.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Wall Street Zen upgraded Alphabet from a "hold" rating to a "buy" rating in a research report on Saturday, September 13th. UBS Group lifted their price objective on Alphabet from $192.00 to $202.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. JPMorgan Chase & Co. increased their target price on Alphabet from $200.00 to $232.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Finally, Rosenblatt Securities boosted their target price on Alphabet from $191.00 to $224.00 and gave the stock a "neutral" rating in a research report on Wednesday, September 3rd. Three analysts have rated the stock with a Strong Buy rating, thirty-two have given a Buy rating and ten have issued a Hold rating to the company's stock. Based on data from MarketBeat, Alphabet presently has a consensus rating of "Moderate Buy" and an average price target of $225.54.

Insider Activity

In other Alphabet news, insider John Kent Walker sold 23,820 shares of the stock in a transaction on Monday, August 4th. The shares were sold at an average price of $194.70, for a total value of $4,637,754.00. Following the completion of the sale, the insider owned 42,999 shares in the company, valued at $8,371,905.30. This trade represents a 35.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Amie Thuener O'toole sold 2,778 shares of Alphabet stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $245.00, for a total transaction of $680,610.00. Following the completion of the transaction, the chief accounting officer directly owned 17,293 shares of the company's stock, valued at approximately $4,236,785. This trade represents a 13.84% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 258,088 shares of company stock valued at $52,405,304. 11.64% of the stock is 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.