Garde Capital Inc. Lowers Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Garde Capital Inc. reduced its stake in Alphabet Inc. (NASDAQ:GOOG) by 0.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 47,931 shares of the information services provider’s stock after selling 141 shares during the quarter. Garde Capital Inc.’s holdings in Alphabet were worth $8,791,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of GOOG. Concentrum Wealth Management boosted its stake in shares of Alphabet by 25.0% in the fourth quarter. Concentrum Wealth Management now owns 16,440 shares of the information services provider’s stock valued at $2,317,000 after buying an additional 3,283 shares in the last quarter. Aveo Capital Partners LLC boosted its stake in shares of Alphabet by 2.4% in the fourth quarter. Aveo Capital Partners LLC now owns 6,647 shares of the information services provider’s stock valued at $937,000 after buying an additional 154 shares in the last quarter. Prudent Man Advisors LLC boosted its stake in shares of Alphabet by 6.7% in the fourth quarter. Prudent Man Advisors LLC now owns 14,044 shares of the information services provider’s stock valued at $1,979,000 after buying an additional 879 shares in the last quarter. Poehling Capital Management INC. boosted its stake in shares of Alphabet by 0.4% in the fourth quarter. Poehling Capital Management INC. now owns 60,143 shares of the information services provider’s stock valued at $8,476,000 after buying an additional 245 shares in the last quarter. Finally, Jones Financial Companies Lllp boosted its stake in shares of Alphabet by 15.3% in the fourth quarter. Jones Financial Companies Lllp now owns 8,370 shares of the information services provider’s stock valued at $1,180,000 after buying an additional 1,113 shares in the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Alphabet

In related news, Director John L. Hennessy sold 700 shares of the company’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $165.00, for a total value of $115,500.00. Following the completion of the transaction, the director now directly owns 27,824 shares in the company, valued at $4,590,960. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Alphabet news, SVP Prabhakar Raghavan sold 34,257 shares of Alphabet stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $162.60, for a total value of $5,570,188.20. Following the transaction, the senior vice president now owns 312,210 shares in the company, valued at approximately $50,765,346. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 700 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $165.00, for a total transaction of $115,500.00. Following the sale, the director now directly owns 27,824 shares of the company’s stock, valued at $4,590,960. The disclosure for this sale can be found here. Insiders sold a total of 200,105 shares of company stock valued at $33,479,581 over the last three months. 12.99% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. Cantor Fitzgerald upgraded 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 on the stock. in a research note on Friday, June 28th. Oppenheimer reduced their price objective on Alphabet from $210.00 to $185.00 and set an “outperform” rating for the company in a report on Wednesday, September 25th. Wolfe Research raised Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. Finally, TD Cowen lifted their price objective on Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Three 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, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $179.29.

Alphabet Stock Performance

NASDAQ GOOG opened at $165.29 on Monday. Alphabet Inc. has a fifty-two week low of $121.46 and a fifty-two week high of $193.31. The stock has a market cap of $2.04 trillion, a price-to-earnings ratio of 25.35, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04. The business has a fifty day moving average of $164.34 and a 200-day moving average of $168.16. 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 (NASDAQ:GOOG) last released its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping 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 company had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $84.22 billion. During the same period in the previous year, the firm posted $1.44 earnings per share. The business’s revenue for the quarter was up 13.6% compared to the same quarter last year. As a group, analysts predict that Alphabet Inc. will post 7.63 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were issued a $0.20 dividend. The ex-dividend date was Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.48%. Alphabet’s dividend payout ratio (DPR) is 12.27%.

Alphabet 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.