Doheny Asset Management CA Has $480,000 Holdings in Alphabet Inc. (NASDAQ:GOOG)

Doheny Asset Management CA trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 93.1% during the second quarter, HoldingsChannel reports. The institutional investor owned 2,615 shares of the information services provider’s stock after selling 35,230 shares during the period. Doheny Asset Management CA’s holdings in Alphabet were worth $480,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of GOOG. Capital International Investors lifted its position in shares of Alphabet by 9.3% during the 1st quarter. Capital International Investors now owns 87,716,562 shares of the information services provider’s stock worth $13,355,724,000 after buying an additional 7,470,042 shares during the last quarter. JPMorgan Chase & Co. grew its position in Alphabet by 19.7% in the first quarter. JPMorgan Chase & Co. now owns 84,171,721 shares of the information services provider’s stock valued at $12,815,986,000 after acquiring an additional 13,876,534 shares during the last quarter. Capital World Investors raised its stake in Alphabet by 2.2% during the first quarter. Capital World Investors now owns 45,731,826 shares of the information services provider’s stock worth $6,963,128,000 after acquiring an additional 979,083 shares in the last quarter. Capital Research Global Investors lifted its holdings in shares of Alphabet by 2.0% in the first quarter. Capital Research Global Investors now owns 35,558,778 shares of the information services provider’s stock worth $5,414,179,000 after acquiring an additional 684,968 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Alphabet in the 4th quarter valued at approximately $4,101,040,000. 27.26% of the stock is owned by institutional investors.

Alphabet Trading Up 2.2 %

NASDAQ GOOG opened at $155.54 on Friday. The firm has a market capitalization of $1.92 trillion, a PE ratio of 23.86, a price-to-earnings-growth ratio of 1.13 and a beta of 1.04. The business’s 50-day moving average price is $169.73 and its two-hundred day moving average price is $165.83. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 12 month low of $121.46 and a 12 month high of $193.31.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The business had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $84.22 billion. During the same period in the prior year, the business posted $1.44 earnings per share. The firm’s revenue was up 13.6% on a year-over-year basis. On average, analysts expect that Alphabet Inc. will post 7.63 EPS for the current year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 9th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.51%. The ex-dividend date of this dividend is Monday, September 9th. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on GOOG shares. TD Cowen upped their price objective on shares of Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Rosenblatt Securities cut Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target for the company. in a research note on Friday, June 28th. Wolfe Research upgraded Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. Cantor Fitzgerald upgraded Alphabet to a “hold” rating in a research report on Thursday, September 5th. Finally, Oppenheimer lifted their price target on Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $182.86.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 2,835 shares of the company’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total transaction of $429,587.55. Following the sale, the chief accounting officer now owns 29,182 shares of the company’s stock, valued at $4,421,948.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Alphabet news, SVP Prabhakar Raghavan sold 3,262 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $183.99, for a total value of $600,175.38. Following the transaction, the senior vice president now directly owns 9 shares of the company’s stock, valued at $1,655.91. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Amie Thuener O’toole sold 2,835 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total transaction of $429,587.55. Following the sale, the chief accounting officer now directly owns 29,182 shares of the company’s stock, valued at approximately $4,421,948.46. The disclosure for this sale can be found here. Insiders sold 201,867 shares of company stock valued at $34,218,581 over the last quarter. Insiders own 12.99% of the company’s stock.

Alphabet Company Profile

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.