Alphabet Inc. (NASDAQ:GOOGL) is Stableford Capital II LLC’s 6th Largest Position

Stableford Capital II LLC cut its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 19.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,608 shares of the information services provider’s stock after selling 12,745 shares during the period. Alphabet accounts for about 3.5% of Stableford Capital II LLC’s investment portfolio, making the stock its 6th largest position. Stableford Capital II LLC’s holdings in Alphabet were worth $9,342,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Tennessee Valley Asset Management Partners bought a new position in Alphabet during the fourth quarter valued at about $100,000. GUNN & Co INVESTMENT MANAGEMENT INC. acquired a new position in shares of Alphabet during the 4th quarter valued at about $1,328,000. Monument Capital Management raised its stake in shares of Alphabet by 279.4% in the 4th quarter. Monument Capital Management now owns 15,994 shares of the information services provider’s stock valued at $2,234,000 after acquiring an additional 11,778 shares in the last quarter. Townsend Asset Management Corp NC ADV lifted its holdings in Alphabet by 5.2% in the 4th quarter. Townsend Asset Management Corp NC ADV now owns 25,487 shares of the information services provider’s stock worth $3,560,000 after purchasing an additional 1,263 shares during the last quarter. Finally, Sage Mountain Advisors LLC boosted its position in Alphabet by 2.4% during the fourth quarter. Sage Mountain Advisors LLC now owns 32,477 shares of the information services provider’s stock worth $4,537,000 after purchasing an additional 769 shares during the period. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Stock Performance

GOOGL opened at $162.85 on Thursday. The company has a market capitalization of $2.01 trillion, a price-to-earnings ratio of 24.98, a P/E/G ratio of 1.28 and a beta of 1.05. The business’s 50-day moving average price is $174.30 and its two-hundred day moving average price is $163.55. Alphabet Inc. has a 1 year low of $120.21 and a 1 year high of $191.75. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08.

Alphabet (NASDAQ:GOOGL) last announced 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. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The business had revenue of $84.74 billion for the quarter, compared to analyst estimates of $70.60 billion. During the same quarter last year, the firm earned $1.44 EPS. Equities analysts expect that Alphabet Inc. will post 7.62 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 9th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date is Monday, September 9th. Alphabet’s dividend payout ratio is presently 12.27%.

Insider Buying and Selling

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $162.35, for a total value of $3,652,875.00. Following the sale, the chief executive officer now directly owns 2,182,385 shares in the company, valued at approximately $354,310,204.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Alphabet news, SVP Prabhakar Raghavan sold 34,257 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the transaction, the senior vice president now owns 312,210 shares of the company’s stock, valued at approximately $50,765,346. 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 stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $162.35, for a total value of $3,652,875.00. Following the completion of the sale, the chief executive officer now directly owns 2,182,385 shares of the company’s stock, valued at approximately $354,310,204.75. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 156,565 shares of company stock worth $26,823,893. 11.55% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Loop Capital reissued a “hold” rating and issued a $170.00 price target on shares of Alphabet in a research report on Wednesday, July 3rd. Wedbush reiterated an “outperform” rating and issued a $205.00 target price on shares of Alphabet in a report on Monday, July 22nd. JPMorgan Chase & Co. upped their price target on shares of Alphabet from $200.00 to $208.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Rosenblatt Securities reissued a “neutral” rating and set a $181.00 price objective on shares of Alphabet in a research report on Wednesday, July 24th. Finally, Wells Fargo & Company raised their price objective on shares of Alphabet from $187.00 to $190.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 24th. Six investment analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $203.74.

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.