US Asset Management LLC Has $1.57 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

US Asset Management LLC reduced its stake in Alphabet Inc. (NASDAQ:GOOG) by 3.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,543 shares of the information services provider’s stock after selling 302 shares during the period. Alphabet accounts for 1.4% of US Asset Management LLC’s holdings, making the stock its 11th biggest holding. US Asset Management LLC’s holdings in Alphabet were worth $1,567,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. 1620 Investment Advisors Inc. bought a new stake in Alphabet during the 2nd quarter valued at $37,000. Richardson Financial Services Inc. bought a new stake in shares of Alphabet during the fourth quarter worth about $34,000. Slocum Gordon & Co LLP acquired a new stake in shares of Alphabet in the 2nd quarter worth about $44,000. Hoese & Co LLP boosted its stake in Alphabet by 62.5% during the 2nd quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock valued at $45,000 after purchasing an additional 100 shares during the last quarter. Finally, Iron Horse Wealth Management LLC bought a new stake in Alphabet during the 2nd quarter worth approximately $48,000. Institutional investors own 27.26% of the company’s stock.

Alphabet Trading Up 1.8 %

NASDAQ:GOOG opened at $158.37 on Friday. The firm’s 50 day moving average is $169.06 and its 200 day moving average is $166.15. Alphabet Inc. has a 12 month low of $121.46 and a 12 month high of $193.31. The stock has a market capitalization of $1.95 trillion, a PE ratio of 24.29, a price-to-earnings-growth ratio of 1.13 and a beta of 1.04. 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 (NASDAQ:GOOG) last issued its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The firm had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $84.22 billion. During the same quarter in the prior year, the firm earned $1.44 EPS. The business’s revenue for the quarter was up 13.6% compared to the same quarter last year. Sell-side analysts expect that Alphabet Inc. will post 7.63 earnings per share for the current 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 paid a $0.20 dividend. The ex-dividend date of this dividend is Monday, September 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.51%. Alphabet’s payout ratio is 12.27%.

Insider Activity

In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $177.40, for a total value of $3,991,500.00. Following the completion of the transaction, the chief executive officer now directly owns 2,213,011 shares in the company, valued at approximately $392,588,151.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $177.40, for a total transaction of $3,991,500.00. Following the sale, the chief executive officer now directly owns 2,213,011 shares in the company, valued at approximately $392,588,151.40. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $183.47, for a total value of $125,126.54. Following the completion of the transaction, the chief accounting officer now owns 30,650 shares of the company’s stock, valued at approximately $5,623,355.50. The disclosure for this sale can be found here. Insiders have sold a total of 201,867 shares of company stock valued at $34,218,581 over the last quarter. Company insiders own 12.99% of the company’s stock.

Analyst Ratings Changes

GOOG has been the topic of a number of recent research reports. TD Cowen raised their target price on Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Cantor Fitzgerald raised shares of Alphabet to a “hold” rating in a report on Thursday, September 5th. Wolfe Research upgraded shares of Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. DA Davidson upgraded shares of Alphabet to a “hold” rating in a report on Tuesday, September 10th. Finally, Oppenheimer increased their price objective on shares of Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Three analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and an average price target 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.