TTP Investments Inc. cut its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 94.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,781 shares of the information services provider's stock after selling 28,890 shares during the period. TTP Investments Inc.'s holdings in Alphabet were worth $314,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in GOOGL. Brighton Jones LLC raised its position in shares of Alphabet by 3.9% in the fourth quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider's stock valued at $20,886,000 after buying an additional 4,110 shares in the last quarter. Revolve Wealth Partners LLC raised its position in shares of Alphabet by 3.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider's stock valued at $2,826,000 after buying an additional 506 shares in the last quarter. Lakeshore Capital Group Inc. acquired a new stake in shares of Alphabet in the fourth quarter valued at approximately $1,233,000. Financial Advisory Corp acquired a new stake in shares of Alphabet in the fourth quarter valued at approximately $428,000. Finally, Capital A Wealth Management LLC acquired a new stake in shares of Alphabet in the fourth quarter valued at approximately $545,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.
Alphabet Stock Performance
Shares of Alphabet stock opened at $252.53 on Tuesday. 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 Inc. has a twelve month low of $140.53 and a twelve month high of $256.00. The stock has a market cap of $3.05 trillion, a price-to-earnings ratio of 26.89, a P/E/G ratio of 1.72 and a beta of 1.01. The company's fifty day moving average is $210.78 and its 200 day moving average is $180.96.
Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.16. The company had revenue of $96.43 billion for the quarter, compared to analysts' expectations of $93.60 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. Sell-side analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.
Alphabet Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. Alphabet's dividend payout ratio is 8.95%.
Analysts Set New Price Targets
GOOGL has been the subject of a number of analyst reports. Cantor Fitzgerald lifted their price target on shares of Alphabet from $196.00 to $201.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. Canaccord Genuity Group lifted their price target on shares of Alphabet from $230.00 to $270.00 and gave the company a "buy" rating in a research report on Thursday, September 4th. JMP Securities lifted their price objective on shares of Alphabet from $250.00 to $290.00 and gave the company a "market outperform" rating in a research note on Friday. BNP Paribas cut shares of Alphabet from a "strong-buy" rating to a "hold" rating in a research note on Thursday, June 26th. Finally, KeyCorp lifted their price objective on shares of Alphabet from $230.00 to $265.00 and gave the company an "overweight" rating in a research note on Wednesday, September 3rd. Three analysts have rated the stock with a Strong Buy rating, thirty-two have assigned a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $231.31.
Read Our Latest Stock Report on GOOGL
Insider Buying and Selling at Alphabet
In other Alphabet news, Director Kavitark Ram Shriram sold 15,000 shares of the company's stock in a transaction 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 sale, the director owned 240,400 shares of the company's stock, valued at approximately $44,656,704. This represents a 5.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider John Kent Walker sold 23,820 shares of the company's stock in a transaction on Monday, August 4th. The shares were sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the sale, the insider directly owned 42,999 shares in the company, valued at $8,371,905.30. This trade represents a 35.65% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 258,088 shares of company stock valued at $52,405,304. 11.55% of the stock is owned by corporate insiders.
About Alphabet
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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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