Seaport Global Advisors LLC Has $1.18 Million Position in Alphabet Inc. (NASDAQ:GOOGL)

Seaport Global Advisors LLC lowered its position in Alphabet Inc. (NASDAQ:GOOGL) by 70.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,500 shares of the information services provider’s stock after selling 15,148 shares during the quarter. Alphabet comprises approximately 4.2% of Seaport Global Advisors LLC’s portfolio, making the stock its 3rd largest holding. Seaport Global Advisors LLC’s holdings in Alphabet were worth $1,184,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Visionary Wealth Advisors raised its position in shares of Alphabet by 2.5% during the 4th quarter. Visionary Wealth Advisors now owns 16,024 shares of the information services provider’s stock valued at $2,238,000 after buying an additional 386 shares in the last quarter. MGO One Seven LLC increased its stake in Alphabet by 16.3% in the fourth quarter. MGO One Seven LLC now owns 60,406 shares of the information services provider’s stock valued at $8,438,000 after acquiring an additional 8,465 shares during the last quarter. Bridgewater Associates LP raised its position in Alphabet by 29.5% during the fourth quarter. Bridgewater Associates LP now owns 2,044,437 shares of the information services provider’s stock valued at $285,587,000 after purchasing an additional 465,505 shares in the last quarter. Harber Asset Management LLC lifted its stake in Alphabet by 3.6% during the fourth quarter. Harber Asset Management LLC now owns 62,931 shares of the information services provider’s stock worth $8,791,000 after purchasing an additional 2,189 shares during the last quarter. Finally, Icon Wealth Advisors LLC purchased a new position in shares of Alphabet in the 4th quarter worth about $3,441,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Morgan Stanley decreased their price objective on Alphabet from $205.00 to $190.00 and set an “overweight” rating on the stock in a report on Tuesday, September 3rd. Rosenblatt Securities restated a “neutral” rating and issued a $181.00 price objective on shares of Alphabet in a report on Wednesday, July 24th. Wedbush reaffirmed an “outperform” rating and issued a $205.00 price objective on shares of Alphabet in a research note on Thursday, September 5th. JPMorgan Chase & Co. lifted their target price on shares of Alphabet from $200.00 to $208.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Finally, Bank of America upped their price target on shares of Alphabet from $200.00 to $206.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Eight analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $200.95.

Alphabet Stock Performance

Alphabet stock opened at $161.86 on Thursday. Alphabet Inc. has a twelve month low of $120.21 and a twelve month high of $191.75. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $2.00 trillion, a P/E ratio of 24.83, a PEG ratio of 1.21 and a beta of 1.04. The stock’s 50 day moving average is $161.81 and its 200 day moving average is $167.61.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.04. The firm had revenue of $84.74 billion during the quarter, compared to the consensus estimate of $70.60 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. During the same period last year, the company earned $1.44 earnings per share. On average, equities research analysts predict that Alphabet Inc. will post 7.63 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were paid a $0.20 dividend. The ex-dividend date of this dividend was Monday, September 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.49%. Alphabet’s dividend payout ratio is presently 12.27%.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total value of $114,576.00. Following the transaction, the chief accounting officer now directly owns 31,334 shares of the company’s stock, valued at approximately $5,264,112. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $168.00, for a total value of $114,576.00. Following the completion of the transaction, the chief accounting officer now owns 31,334 shares of the company’s stock, valued at approximately $5,264,112. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John L. Hennessy sold 700 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $165.00, for a total transaction of $115,500.00. Following the sale, the director now directly owns 29,324 shares in the company, valued at approximately $4,838,460. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 217,592 shares of company stock valued at $35,922,911 over the last 90 days. Corporate insiders own 11.55% of the company’s stock.

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.