Triple Frond Partners LLC Has $101.38 Million Stock Holdings in Alphabet Inc. $GOOG

Key Points

• Triple Frond Partners LLC reduced its stake in Alphabet Inc. by 19.6% in Q1, now holding 648,905 shares valued at approximately $101.38 million, making it the third-largest position in their portfolio.
• Several large investors, including Maven Securities LTD and Quantbot Technologies LP, have increased their investments in Alphabet, with ownership from institutional investors now at 27.26% of the company's stock.
• Alphabet recently declared a quarterly dividend of $0.21, reflecting an annual yield of 0.4%, with the ex-dividend date set for September 8th.

Triple Frond Partners LLC lessened its stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 19.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 648,905 shares of the information services provider's stock after selling 158,409 shares during the quarter. Alphabet makes up approximately 13.7% of Triple Frond Partners LLC's portfolio, making the stock its 3rd biggest holding. Triple Frond Partners LLC's holdings in Alphabet were worth $101,378,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of GOOG. 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 in 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 in 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 in 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 in 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 in the last quarter. Institutional investors own 27.26% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Scotiabank boosted their price target on shares of Alphabet from $200.00 to $240.00 and gave the company a "sector outperform" rating in a research report on Tuesday, July 22nd. BNP Paribas lowered shares of Alphabet from a "strong-buy" rating to a "hold" rating in a research report on Thursday, June 26th. Wells Fargo & Company restated an "equal weight" rating on shares of Alphabet in a research report on Wednesday, July 9th. JPMorgan Chase & Co. boosted their price target on shares of Alphabet from $200.00 to $232.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. Finally, Needham & Company LLC lowered shares of Alphabet from a "buy" rating to a "cautious" rating in a research report on Friday, May 2nd. Five analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $215.19.

Alphabet Price Performance

NASDAQ:GOOG traded up $5.9660 during midday trading on Friday, hitting $206.5860. The company had a trading volume of 22,071,100 shares, compared to its average volume of 23,709,248. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $209.23. The stock's fifty day moving average price is $187.09 and its 200-day moving average price is $174.87. The company has a market capitalization of $2.50 trillion, a PE ratio of 22.00, a P/E/G ratio of 1.35 and a beta of 1.02. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07.

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 (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.19. The company had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.67 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The firm's quarterly revenue was up 13.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.89 earnings per share. As a group, research analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Announces Dividend

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

Insider Buying and Selling at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 15,000 shares of the business's stock in a transaction on Friday, July 18th. The shares were sold at an average price of $185.76, for a total value 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 document filed with the SEC, which is available at the SEC website. Also, Director John L. Hennessy sold 600 shares of the business's stock in a transaction 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 completion of the sale, the director directly owned 6,316 shares of the company's stock, valued at $1,287,137.64. This represents a 8.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 254,719 shares of company stock valued at $47,223,172. Company insiders own 12.99% of the company's stock.

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.