Versant Capital Management Inc reduced its stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 13.0% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 12,179 shares of the information services provider's stock after selling 1,825 shares during the quarter. Versant Capital Management Inc's holdings in Alphabet were worth $2,160,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Principia Wealth Advisory LLC lifted its holdings in Alphabet by 111.8% in the 1st quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock worth $26,000 after purchasing an additional 85 shares during the last quarter. MorganRosel Wealth Management LLC acquired a new stake in Alphabet in the 1st quarter worth approximately $26,000. Greykasell Wealth Strategies Inc. acquired a new stake in Alphabet in the 1st quarter worth approximately $32,000. Goodman Advisory Group LLC acquired a new stake in Alphabet in the 1st quarter worth approximately $32,000. Finally, Elevate Wealth Advisory Inc. acquired a new stake in Alphabet in the 1st quarter worth approximately $34,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.
Insider Transactions at Alphabet
In other news, Director John L. Hennessy sold 600 shares of the business's stock in a transaction that occurred 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 sale, the director directly owned 6,316 shares in the company, valued at approximately $1,287,137.64. The trade was a 8.68% 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, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $229.73, for a total value of $7,466,225.00. Following the sale, the chief executive officer owned 2,429,892 shares in the company, valued at approximately $558,219,089.16. This represents a 1.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 254,710 shares of company stock valued at $49,208,380. Company insiders own 12.99% of the company's stock.
Analyst Upgrades and Downgrades
Several equities research analysts recently weighed in on GOOG shares. JPMorgan Chase & Co. boosted 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. Lake Street Capital reiterated a "buy" rating on shares of Alphabet in a report on Wednesday, July 9th. Roth Capital reiterated a "buy" rating on shares of Alphabet in a report on Wednesday, July 9th. Cowen reiterated a "buy" rating on shares of Alphabet in a report on Wednesday, July 9th. Finally, Raymond James Financial reiterated an "outperform" rating and set a $210.00 price target (up from $185.00) on shares of Alphabet in a report on Thursday, July 24th. Four analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, five have given a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $227.56.
Read Our Latest Report on GOOG
Alphabet Stock Performance
GOOG opened at $241.38 on Friday. The stock has a market cap of $2.92 trillion, a PE ratio of 25.71, a P/E/G ratio of 1.62 and a beta of 1.01. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $242.57. The stock's 50 day simple moving average is $202.67 and its 200-day simple moving average is $178.86.
Alphabet (NASDAQ:GOOG - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.12 by $0.19. The business had revenue of $96.43 billion for the quarter, compared to analysts' expectations of $93.67 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.Alphabet's quarterly revenue was up 13.8% on a year-over-year basis. During the same period in the previous year, the business posted $1.89 earnings per share. Sell-side analysts forecast that Alphabet Inc. will post 8.89 EPS for the current year.
Alphabet Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be given a dividend of $0.21 per share. The ex-dividend date is Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. Alphabet's payout ratio is currently 8.95%.
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.
Featured Stories
Want to see what other hedge funds are holding GOOG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOG - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Alphabet, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Alphabet wasn't on the list.
While Alphabet currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
