Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Sfmg LLC

Sfmg LLC reduced its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.4% in the 2nd quarter, HoldingsChannel reports. The fund owned 69,954 shares of the information services provider’s stock after selling 1,028 shares during the quarter. Alphabet accounts for approximately 1.1% of Sfmg LLC’s investment portfolio, making the stock its 15th biggest holding. Sfmg LLC’s holdings in Alphabet were worth $12,831,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in GOOG. Capital International Investors boosted its stake in Alphabet by 9.3% in the first quarter. Capital International Investors now owns 87,716,562 shares of the information services provider’s stock valued at $13,355,724,000 after acquiring an additional 7,470,042 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Alphabet by 19.7% in the 1st quarter. JPMorgan Chase & Co. now owns 84,171,721 shares of the information services provider’s stock valued at $12,815,986,000 after purchasing an additional 13,876,534 shares during the last quarter. Capital World Investors boosted its position in shares of Alphabet by 2.2% in the 1st quarter. Capital World Investors now owns 45,731,826 shares of the information services provider’s stock valued at $6,963,128,000 after purchasing an additional 979,083 shares during the period. Capital Research Global Investors grew its stake in Alphabet by 2.0% during the 1st quarter. Capital Research Global Investors now owns 35,558,778 shares of the information services provider’s stock worth $5,414,179,000 after buying an additional 684,968 shares during the last quarter. Finally, Sanders Capital LLC increased its position in Alphabet by 2.9% during the fourth quarter. Sanders Capital LLC now owns 28,558,000 shares of the information services provider’s stock worth $4,024,679,000 after buying an additional 813,428 shares during the period. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Stock Performance

NASDAQ:GOOG opened at $163.64 on Wednesday. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a fifty-two week low of $121.46 and a fifty-two week high of $193.31. The firm’s fifty day simple moving average is $165.32 and its 200-day simple moving average is $167.65. The stock has a market cap of $2.01 trillion, a PE ratio of 25.10, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04.

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

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 9th were given a dividend of $0.20 per share. The ex-dividend date was Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.49%. Alphabet’s payout ratio is 12.27%.

Wall Street Analyst Weigh In

GOOG has been the topic of a number of research reports. Oppenheimer raised 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. DA Davidson raised shares of Alphabet to a “hold” rating in a research report on Tuesday, September 10th. Rosenblatt Securities cut shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price for the company. in a report on Friday, June 28th. Wolfe Research raised Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. Finally, Cantor Fitzgerald raised Alphabet to a “hold” rating in a research note on Thursday, September 5th. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and a consensus price target of $182.86.

Insider Buying and Selling at Alphabet

In related news, Director John L. Hennessy sold 700 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $165.00, for a total value of $115,500.00. Following the sale, the director now directly owns 27,824 shares in the company, valued at approximately $4,590,960. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $183.47, for a total transaction of $125,126.54. Following the completion of the transaction, 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John L. Hennessy sold 700 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $165.00, for a total value of $115,500.00. Following the completion of the sale, the director now directly owns 27,824 shares in the company, valued at approximately $4,590,960. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 203,367 shares of company stock valued at $34,079,756. 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.