Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Quilter Plc

Quilter Plc decreased its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 4.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 140,035 shares of the information services provider’s stock after selling 5,917 shares during the period. Quilter Plc’s holdings in Alphabet were worth $25,685,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of GOOG. Tennessee Valley Asset Management Partners lifted its position in Alphabet by 24.4% during the second quarter. Tennessee Valley Asset Management Partners now owns 12,294 shares of the information services provider’s stock worth $2,255,000 after buying an additional 2,409 shares during the period. Collaborative Wealth Managment Inc. purchased a new position in shares of Alphabet during the 2nd quarter worth about $236,000. Rathbones Group PLC boosted its position in shares of Alphabet by 0.4% in the second quarter. Rathbones Group PLC now owns 2,075,202 shares of the information services provider’s stock worth $380,634,000 after acquiring an additional 7,351 shares during the last quarter. Plato Investment Management Ltd grew its holdings in Alphabet by 9.6% in the second quarter. Plato Investment Management Ltd now owns 124,276 shares of the information services provider’s stock valued at $22,795,000 after purchasing an additional 10,896 shares during the period. Finally, Providence Wealth Advisors LLC increased its position in Alphabet by 17.1% during the second quarter. Providence Wealth Advisors LLC now owns 9,789 shares of the information services provider’s stock worth $1,797,000 after purchasing an additional 1,430 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on GOOG shares. Cantor Fitzgerald raised shares of Alphabet to a “hold” rating in a research note on Thursday, September 5th. Rosenblatt Securities downgraded Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target for the company. in a research report on Friday, June 28th. Wolfe Research upgraded Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. DA Davidson raised Alphabet to a “hold” rating in a research note on Tuesday, September 10th. Finally, Oppenheimer increased their target price 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. Three equities research 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. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $182.86.

Alphabet Stock Performance

Alphabet stock opened at $158.99 on Tuesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. Alphabet Inc. has a one year low of $121.46 and a one year high of $193.31. The stock’s 50 day moving average price is $168.43 and its 200 day moving average price is $166.48. The firm has a market capitalization of $1.96 trillion, a PE ratio of 24.39, a price-to-earnings-growth ratio of 1.13 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last announced its 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. 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 the consensus estimate of $84.22 billion. During the same period in the prior year, the firm earned $1.44 earnings per share. The business’s quarterly revenue was up 13.6% compared to the same quarter last year. As a group, sell-side analysts expect that Alphabet Inc. will post 7.63 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were paid a dividend of $0.20 per share. The ex-dividend date was Monday, September 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.50%. Alphabet’s dividend payout ratio is presently 12.27%.

Insider Transactions at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 2,213,011 shares in the company, valued at approximately $392,588,151.40. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, SVP Prabhakar Raghavan sold 3,262 shares of Alphabet stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $183.99, for a total value of $600,175.38. Following the completion of the transaction, the senior vice president now directly owns 9 shares in the company, valued at $1,655.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the company’s 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 sale, the chief executive officer now owns 2,213,011 shares in the company, valued at approximately $392,588,151.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 202,667 shares of company stock valued at $34,341,581. 12.99% of the stock is currently owned by insiders.

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.