Hudson Value Partners LLC Cuts Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Hudson Value Partners LLC reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.3% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 32,480 shares of the information services provider’s stock after selling 750 shares during the quarter. Alphabet comprises 2.5% of Hudson Value Partners LLC’s portfolio, making the stock its 8th biggest holding. Hudson Value Partners LLC’s holdings in Alphabet were worth $5,957,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the stock. Partnership Wealth Management LLC bought a new position in shares of Alphabet in the fourth quarter worth about $26,000. 1620 Investment Advisors Inc. bought a new position in shares of Alphabet in the second quarter worth about $37,000. Richardson Financial Services Inc. bought a new position in shares of Alphabet in the fourth quarter worth about $34,000. Pacific Capital Wealth Advisors Inc. acquired a new stake in Alphabet during the fourth quarter worth about $34,000. Finally, Hoese & Co LLP grew its position in Alphabet by 62.5% during the second quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock worth $45,000 after buying an additional 100 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Rosenblatt Securities downgraded Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price on the stock. in a research report on Friday, June 28th. Wolfe Research raised Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. Oppenheimer lifted their target price on Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Finally, TD Cowen lifted their target price on Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $182.86.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $162.35, for a total value of $3,652,875.00. Following the transaction, the chief executive officer now directly owns 2,182,385 shares of the company’s stock, valued at approximately $354,310,204.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $173.86, for a total value of $118,572.52. Following the completion of the transaction, the chief accounting officer now owns 29,966 shares in the company, valued at approximately $5,209,888.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the completion of the transaction, the chief executive officer now owns 2,182,385 shares of the company’s stock, valued at approximately $354,310,204.75. The disclosure for this sale can be found here. Insiders have sold 179,065 shares of company stock valued at $31,025,543 in the last three months. 12.99% of the stock is owned by corporate insiders.

Alphabet Stock Up 1.0 %

NASDAQ GOOG opened at $165.11 on Friday. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. The stock’s 50 day moving average is $175.40 and its two-hundred day moving average is $165.01. The company has a market capitalization of $2.04 trillion, a price-to-earnings ratio of 25.32, a PEG ratio of 1.28 and a beta of 1.05. Alphabet Inc. has a 1-year low of $121.46 and a 1-year high of $193.31.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. The company had revenue of $84.74 billion for the quarter, compared to the consensus estimate of $84.22 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The company’s quarterly revenue was up 13.6% on a year-over-year basis. During the same period in the previous year, the business earned $1.44 earnings per share. Equities analysts forecast that Alphabet Inc. will post 7.62 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 9th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.48%. The ex-dividend date is Monday, September 9th. Alphabet’s payout ratio is currently 12.27%.

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.