Welch Capital Partners LLC NY Has $17.80 Million Holdings in Alphabet Inc. (NASDAQ:GOOG)

Key Points

• Welch Capital Partners LLC NY has reduced its stake in Alphabet Inc. by 19.9%, now holding 113,960 shares valued at approximately $17.8 million.
• Alphabet's latest quarterly earnings reported an EPS of $2.31, surpassing analyst expectations of $2.12, with year-over-year revenue growth of 13.8%.
• The company has declared a quarterly dividend of $0.21 per share, indicating a dividend yield of 0.4%, to be paid on September 15th.

Welch Capital Partners LLC NY lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 19.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 113,960 shares of the information services provider's stock after selling 28,273 shares during the period. Alphabet comprises 4.2% of Welch Capital Partners LLC NY's holdings, making the stock its 5th largest holding. Welch Capital Partners LLC NY's holdings in Alphabet were worth $17,804,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Hemington Wealth Management increased its stake in shares of Alphabet by 1.2% in the 1st quarter. Hemington Wealth Management now owns 8,438 shares of the information services provider's stock valued at $1,318,000 after purchasing an additional 99 shares during the last quarter. Tidemark LLC lifted its holdings in Alphabet by 12.4% during the 1st quarter. Tidemark LLC now owns 2,578 shares of the information services provider's stock worth $403,000 after buying an additional 285 shares during the period. Nicholas Hoffman & Company LLC. increased its position in Alphabet by 4.0% during the 1st quarter. Nicholas Hoffman & Company LLC. now owns 25,146 shares of the information services provider's stock valued at $3,929,000 after purchasing an additional 976 shares during the period. WealthShield Partners LLC increased its position in shares of Alphabet by 69.9% during the first quarter. WealthShield Partners LLC now owns 9,531 shares of the information services provider's stock worth $1,489,000 after buying an additional 3,920 shares during the period. Finally, Warburton Capital Management LLC raised its position in shares of Alphabet by 15.6% in the 1st quarter. Warburton Capital Management LLC now owns 3,212 shares of the information services provider's stock worth $501,000 after acquiring an additional 433 shares in the last quarter. 27.26% of the stock is owned by institutional investors.

Alphabet Price Performance

NASDAQ:GOOG traded up $0.36 during mid-day trading on Thursday, hitting $197.28. 14,292,926 shares of the stock traded hands, compared to its average volume of 25,208,792. 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 12-month low of $142.66 and a 12-month high of $208.70. The company has a market cap of $2.39 trillion, a PE ratio of 21.01, a price-to-earnings-growth ratio of 1.31 and a beta of 1.02. The business's 50-day moving average price is $181.28 and its 200 day moving average price is $174.68.

Alphabet (NASDAQ:GOOG - Get Free Report) last released its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating analysts' consensus estimates 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 EPS. Alphabet's revenue for the quarter was up 13.8% on a year-over-year basis. On average, analysts expect that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet's payout ratio is presently 8.95%.

Insider Activity at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 18,566 shares of the company's stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the completion of the sale, the director directly owned 243,400 shares of the company's stock, valued at approximately $45,213,984. This represents a 7.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total transaction of $5,801,900.00. Following the sale, the chief executive officer owned 2,559,892 shares in the company, valued at approximately $456,991,919.84. The trade was a 1.25% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 273,219 shares of company stock worth $49,474,273 over the last quarter. Company insiders own 12.99% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on GOOG shares. Pivotal Research increased their target price on shares of Alphabet from $225.00 to $245.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Tigress Financial reissued a "strong-buy" rating on shares of Alphabet in a research report on Friday, May 2nd. Cantor Fitzgerald restated a "neutral" rating and set a $171.00 price target on shares of Alphabet in a research note on Friday, April 25th. JPMorgan Chase & Co. lifted their price objective on shares of Alphabet from $200.00 to $232.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Finally, Oppenheimer reaffirmed an "outperform" rating and issued a $235.00 price target (up previously from $220.00) on shares of Alphabet in a research report on Thursday, July 24th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have given a buy rating and five have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $215.19.

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.