Trifecta Capital Advisors LLC lessened its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 38.3% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 71,967 shares of the information services provider's stock after selling 44,579 shares during the quarter. Alphabet makes up about 2.1% of Trifecta Capital Advisors LLC's investment portfolio, making the stock its 14th largest holding. Trifecta Capital Advisors LLC's holdings in Alphabet were worth $12,766,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in GOOG. Vanguard Group Inc. raised its stake in Alphabet by 2.4% during the first quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider's stock valued at $64,299,725,000 after buying an additional 9,687,855 shares during the last quarter. Kingstone Capital Partners Texas LLC raised its stake in Alphabet by 580,897.4% during the second quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider's stock valued at $23,963,208,000 after buying an additional 135,064,454 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Alphabet by 9.9% during the first quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider's stock valued at $15,971,861,000 after buying an additional 9,243,959 shares during the last quarter. Deutsche Bank AG raised its stake in Alphabet by 5.4% during the first quarter. Deutsche Bank AG now owns 21,345,784 shares of the information services provider's stock valued at $3,334,852,000 after buying an additional 1,098,996 shares during the last quarter. Finally, Invesco Ltd. raised its stake in Alphabet by 2.2% during the first quarter. Invesco Ltd. now owns 20,380,073 shares of the information services provider's stock valued at $3,183,979,000 after buying an additional 440,526 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company's stock.
Wall Street Analyst Weigh In
GOOG has been the subject of a number of research analyst reports. BNP Paribas lowered Alphabet from a "strong-buy" rating to a "hold" rating in a report on Thursday, June 26th. Wells Fargo & Company reissued an "equal weight" rating on shares of Alphabet in a report on Wednesday, July 9th. JPMorgan Chase & Co. lifted their target price on Alphabet from $232.00 to $260.00 and gave the stock an "overweight" rating in a report on Wednesday, September 3rd. Morgan Stanley lifted their target price on Alphabet from $210.00 to $270.00 and gave the stock an "overweight" rating in a report on Thursday, October 2nd. Finally, Scotiabank lifted their target price on Alphabet from $200.00 to $240.00 and gave the stock a "sector outperform" rating in a report on Tuesday, July 22nd. Six research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, Alphabet presently has a consensus rating of "Moderate Buy" and a consensus price target of $241.00.
Read Our Latest Analysis on GOOG
Insider Buying and Selling at Alphabet
In other Alphabet news, Director Frances Arnold sold 103 shares of the business's stock in a transaction dated Tuesday, September 30th. The stock was sold at an average price of $243.13, for a total transaction of $25,042.39. Following the completion of the sale, the director owned 17,284 shares of the company's stock, valued at approximately $4,202,258.92. The trade was a 0.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Amie Thuener O'toole sold 953 shares of the business's stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $241.20, for a total value of $229,863.60. Following the sale, the chief accounting officer directly owned 17,294 shares of the company's stock, valued at $4,171,312.80. This represents a 5.22% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 276,738 shares of company stock valued at $59,135,475 in the last ninety days. 12.99% of the stock is currently owned by company insiders.
Alphabet Stock Performance
Shares of GOOG opened at $237.49 on Friday. 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 one year low of $142.66 and a one year high of $256.70. The firm has a market capitalization of $2.87 trillion, a P/E ratio of 25.29, a PEG ratio of 1.60 and a beta of 1.00. The business has a fifty day moving average of $226.97 and a 200 day moving average of $189.81.
Alphabet (NASDAQ:GOOG - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping the consensus estimate of $2.12 by $0.19. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The company had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.67 billion. During the same quarter in the previous year, the company posted $1.89 earnings per share. Alphabet's revenue was up 13.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current year.
Alphabet Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend was Monday, September 8th. Alphabet's payout ratio is currently 8.95%.
Alphabet Profile
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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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