Alphabet Inc. $GOOGL Stock Position Cut by YHB Investment Advisors Inc.

Key Points

• YHB Investment Advisors Inc. reduced its holdings in Alphabet Inc. by 0.6%, now owning 159,842 shares valued at approximately $28.17 million, making it the 9th largest holding in their portfolio.
• Alphabet reported earnings of $2.31 per share, exceeding analyst expectations of $2.15, with quarterly revenue reaching $96.43 billion.
• The company also declared a quarterly dividend of $0.21 per share, reflecting an annualized yield of 0.3% and a payout ratio of 8.95%.

YHB Investment Advisors Inc. cut its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 0.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 159,842 shares of the information services provider's stock after selling 1,006 shares during the quarter. Alphabet accounts for about 2.2% of YHB Investment Advisors Inc.'s portfolio, making the stock its 9th largest holding. YHB Investment Advisors Inc.'s holdings in Alphabet were worth $28,170,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in GOOGL. Mystic Asset Management Inc. boosted its stake in shares of Alphabet by 6.7% in the 1st quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider's stock valued at $4,400,000 after purchasing an additional 1,791 shares during the last quarter. Harbour Trust & Investment Management Co raised its holdings in Alphabet by 0.3% during the first quarter. Harbour Trust & Investment Management Co now owns 27,075 shares of the information services provider's stock worth $4,187,000 after buying an additional 80 shares during the last quarter. Cypress Capital LLC lifted its stake in shares of Alphabet by 4.1% in the first quarter. Cypress Capital LLC now owns 14,310 shares of the information services provider's stock valued at $2,213,000 after buying an additional 563 shares in the last quarter. Bridgeway Capital Management LLC lifted its stake in shares of Alphabet by 17.9% in the first quarter. Bridgeway Capital Management LLC now owns 88,187 shares of the information services provider's stock valued at $13,637,000 after buying an additional 13,371 shares in the last quarter. Finally, Alaethes Wealth LLC raised its holdings in shares of Alphabet by 1.1% in the first quarter. Alaethes Wealth LLC now owns 7,646 shares of the information services provider's stock valued at $1,182,000 after purchasing an additional 84 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Rosenblatt Securities raised their price objective on shares of Alphabet from $191.00 to $224.00 and gave the stock a "neutral" rating in a report on Wednesday, September 3rd. Sanford C. Bernstein raised their price objective on shares of Alphabet from $185.00 to $195.00 and gave the company a "market perform" rating in a research report on Tuesday, July 22nd. Westpark Capital upped their target price on Alphabet from $210.00 to $220.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. JPMorgan Chase & Co. lifted their target price 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, Barclays boosted their price objective on shares of Alphabet from $235.00 to $250.00 and gave the stock an "overweight" rating in a report on Wednesday, September 3rd. Three investment analysts have rated the stock with a Strong Buy rating, thirty-two have assigned a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, Alphabet presently has an average rating of "Moderate Buy" and an average target price of $231.31.

Alphabet Stock Performance

GOOGL traded down $0.73 during midday trading on Tuesday, hitting $251.80. 15,689,308 shares of the company traded hands, compared to its average volume of 36,714,328. The company's 50-day moving average is $210.78 and its 200 day moving average is $180.96. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $256.00. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $3.05 trillion, a PE ratio of 26.77, a price-to-earnings-growth ratio of 1.72 and a beta of 1.01.

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 firm 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%. On average, research analysts expect that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Monday, September 8th. Alphabet's dividend payout ratio (DPR) is 8.95%.

Insider Transactions at Alphabet

In other news, insider John Kent Walker sold 23,820 shares of the stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the completion of the transaction, the insider directly owned 42,999 shares in the company, valued at approximately $8,371,905.30. This represents a 35.65% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Amie Thuener O'toole sold 2,778 shares of the stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $245.00, for a total value of $680,610.00. Following the transaction, the chief accounting officer owned 17,293 shares of the company's stock, valued at $4,236,785. This represents a 13.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 258,088 shares of company stock valued at $52,405,304 over the last quarter. 11.55% of the stock is owned by insiders.

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.