V Square Quantitative Management LLC decreased its holdings in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 5.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 80,127 shares of the information services provider's stock after selling 4,377 shares during the period. Alphabet accounts for approximately 1.9% of V Square Quantitative Management LLC's holdings, making the stock its 5th biggest holding. V Square Quantitative Management LLC's holdings in Alphabet were worth $14,214,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Principia Wealth Advisory LLC lifted its holdings in shares of Alphabet by 111.8% in the 1st quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock valued at $26,000 after acquiring an additional 85 shares during the last quarter. MorganRosel Wealth Management LLC purchased a new stake in Alphabet in the 1st quarter worth about $26,000. Goodman Advisory Group LLC purchased a new stake in Alphabet in the 1st quarter worth about $32,000. Greykasell Wealth Strategies Inc. purchased a new stake in Alphabet in the 1st quarter worth about $32,000. Finally, Elevate Wealth Advisory Inc. purchased a new stake in Alphabet in the 1st quarter worth about $34,000. Institutional investors own 27.26% of the company's stock.
Alphabet Stock Performance
Shares of NASDAQ:GOOG opened at $243.55 on Wednesday. The firm has a market cap of $2.95 trillion, a PE ratio of 25.94, a price-to-earnings-growth ratio of 1.65 and a beta of 1.01. The firm's 50 day simple moving average is $218.70 and its 200-day simple moving average is $185.47. Alphabet Inc. has a one year low of $142.66 and a one year high of $256.70. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90.
Alphabet (NASDAQ:GOOG - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping analysts' consensus estimates of $2.12 by $0.19. The business had revenue of $96.43 billion for 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 company's quarterly revenue was up 13.8% compared to the same quarter last year. During the same period last year, the company posted $1.89 earnings per share. As a group, equities analysts predict that Alphabet Inc. will post 8.89 EPS for the current year.
Alphabet Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were paid a dividend of $0.21 per share. The ex-dividend date was Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. Alphabet's dividend payout ratio (DPR) is currently 8.95%.
Insider Activity
In other news, insider John Kent Walker sold 23,820 shares of the stock in a transaction that occurred 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 transaction, the insider directly owned 42,999 shares in the company, valued at approximately $8,371,905.30. This trade represents a 35.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John L. Hennessy sold 1,000 shares of the stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $200.00, for a total transaction of $200,000.00. Following the transaction, the director owned 6,916 shares in the company, valued at approximately $1,383,200. This represents a 12.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 225,469 shares of company stock valued at $46,586,752. 12.99% of the stock is currently owned by corporate insiders.
Wall Street Analysts Forecast Growth
A number of research firms recently weighed in on GOOG. Oppenheimer reissued an "outperform" rating and issued a $270.00 price objective (up from $235.00) on shares of Alphabet in a research report on Wednesday, September 3rd. Piper Sandler reissued a "neutral" rating on shares of Alphabet in a research report on Wednesday, July 9th. Raymond James Financial reissued an "outperform" rating and issued a $210.00 price objective (up from $185.00) on shares of Alphabet in a research report on Thursday, July 24th. Pivotal Research increased their price objective on shares of Alphabet from $245.00 to $300.00 and gave the stock a "buy" rating in a research report on Wednesday, September 3rd. Finally, Scotiabank increased their price objective on shares of Alphabet from $200.00 to $240.00 and gave the stock a "sector outperform" rating in a research report on Tuesday, July 22nd. Four research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, Alphabet has an average rating of "Moderate Buy" and an average price target of $230.35.
Check Out Our Latest Stock Report on GOOG
About Alphabet
(
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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