Alphabet Inc. (NASDAQ:GOOG) is Davis Capital Management’s 6th Largest Position

Davis Capital Management decreased its position in Alphabet Inc. (NASDAQ:GOOG) by 0.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 16,841 shares of the information services provider’s stock after selling 71 shares during the period. Alphabet accounts for 2.4% of Davis Capital Management’s investment portfolio, making the stock its 6th biggest holding. Davis Capital Management’s holdings in Alphabet were worth $2,636,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. PAX Financial Group LLC bought a new position in shares of Alphabet during the 3rd quarter valued at approximately $209,000. Interchange Capital Partners LLC grew its position in shares of Alphabet by 2.6% during the 3rd quarter. Interchange Capital Partners LLC now owns 4,041 shares of the information services provider’s stock valued at $533,000 after acquiring an additional 101 shares during the period. Rathbones Group PLC grew its position in shares of Alphabet by 70.3% during the 3rd quarter. Rathbones Group PLC now owns 2,018,692 shares of the information services provider’s stock valued at $266,165,000 after acquiring an additional 833,601 shares during the period. V Square Quantitative Management LLC grew its position in shares of Alphabet by 6.6% during the 3rd quarter. V Square Quantitative Management LLC now owns 38,227 shares of the information services provider’s stock valued at $5,040,000 after acquiring an additional 2,377 shares during the period. Finally, TFB Advisors LLC grew its position in shares of Alphabet by 6.1% during the 3rd quarter. TFB Advisors LLC now owns 10,200 shares of the information services provider’s stock valued at $1,345,000 after acquiring an additional 588 shares during the period. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Stock Down 1.3 %

Shares of NASDAQ:GOOG opened at $176.45 on Thursday. The firm has a fifty day moving average price of $170.85 and a two-hundred day moving average price of $153.29. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.15. Alphabet Inc. has a one year low of $115.83 and a one year high of $182.08. The company has a market cap of $2.18 trillion, a price-to-earnings ratio of 27.06, a PEG ratio of 1.31 and a beta of 1.01.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.51 by $0.38. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The firm had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $78.75 billion. During the same period last year, the firm earned $1.17 EPS. The business’s quarterly revenue was up 15.4% compared to the same quarter last year. Analysts anticipate that Alphabet Inc. will post 7.69 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently declared a — dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 10th were issued a $0.20 dividend. The ex-dividend date was Monday, June 10th. Alphabet’s payout ratio is 12.27%.

Wall Street Analyst Weigh In

GOOG has been the subject of a number of research reports. Oppenheimer increased their target price on shares of Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research report on Monday, April 8th. Morgan Stanley reaffirmed an “overweight” rating and issued a $165.00 price objective on shares of Alphabet in a report on Thursday, April 11th. Finally, Stifel Nicolaus raised their price objective on shares of Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and an average target price of $165.67.

Insider Buying and Selling at Alphabet

In other news, insider John Kent Walker sold 12,084 shares of the firm’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $151.19, for a total transaction of $1,826,979.96. Following the sale, the insider now owns 48,717 shares in the company, valued at approximately $7,365,523.23. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $154.79, for a total transaction of $105,566.78. Following the sale, the chief accounting officer now owns 29,284 shares in the company, valued at approximately $4,532,870.36. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider John Kent Walker sold 12,084 shares of the firm’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $151.19, for a total transaction of $1,826,979.96. Following the sale, the insider now owns 48,717 shares in the company, valued at approximately $7,365,523.23. The disclosure for this sale can be found here. Insiders sold a total of 135,958 shares of company stock valued at $22,383,553 in the last three months. Company 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.