Federated Hermes Inc. Has $36.77 Million Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Federated Hermes Inc. reduced its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 200,448 shares of the information services provider’s stock after selling 2,279 shares during the quarter. Federated Hermes Inc.’s holdings in Alphabet were worth $36,766,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in GOOG. Gilbert & Cook Inc. lifted its position in shares of Alphabet by 15.5% during the fourth quarter. Gilbert & Cook Inc. now owns 29,159 shares of the information services provider’s stock valued at $4,109,000 after purchasing an additional 3,924 shares in the last quarter. Concentrum Wealth Management lifted its position in shares of Alphabet by 25.0% during the fourth quarter. Concentrum Wealth Management now owns 16,440 shares of the information services provider’s stock valued at $2,317,000 after purchasing an additional 3,283 shares in the last quarter. Aveo Capital Partners LLC lifted its position in shares of Alphabet by 2.4% during the fourth quarter. Aveo Capital Partners LLC now owns 6,647 shares of the information services provider’s stock valued at $937,000 after purchasing an additional 154 shares in the last quarter. Mizuho Markets Americas LLC bought a new position in shares of Alphabet during the fourth quarter valued at about $256,000. Finally, FUKOKU MUTUAL LIFE INSURANCE Co lifted its position in shares of Alphabet by 12.3% during the fourth quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 22,097 shares of the information services provider’s stock valued at $3,114,000 after purchasing an additional 2,423 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Price Performance

GOOG stock opened at $158.37 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. Alphabet Inc. has a one year low of $121.46 and a one year high of $193.31. The stock has a market cap of $1.95 trillion, a PE ratio of 24.29, a P/E/G ratio of 1.13 and a beta of 1.04. The firm has a 50 day simple moving average of $169.06 and a two-hundred day simple moving average of $166.15.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The business had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $84.22 billion. During the same quarter in the previous year, the company earned $1.44 EPS. The business’s quarterly revenue was up 13.6% compared to the same quarter last year. On average, analysts predict that Alphabet Inc. will post 7.63 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date is Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.51%. Alphabet’s payout ratio is 12.27%.

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total value of $125,126.54. Following the completion of the sale, the chief accounting officer now directly owns 30,650 shares in the company, valued at approximately $5,623,355.50. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total transaction of $125,126.54. Following the completion of the sale, the chief accounting officer now directly owns 30,650 shares in the company, valued at approximately $5,623,355.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Prabhakar Raghavan sold 34,257 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the sale, the senior vice president now owns 312,210 shares of the company’s stock, valued at $50,765,346. The disclosure for this sale can be found here. In the last ninety days, insiders sold 201,867 shares of company stock worth $34,218,581. 12.99% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have commented on GOOG. Oppenheimer lifted their price objective on shares of Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Rosenblatt Securities lowered shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective on the stock. in a research report on Friday, June 28th. DA Davidson raised shares of Alphabet to a “hold” rating in a research report on Tuesday, September 10th. TD Cowen lifted 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. Finally, Cantor Fitzgerald raised shares of Alphabet to a “hold” rating in a research report on Thursday, September 5th. Three investment 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, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $182.86.

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.