Boothe Investment Group Inc. Has $5.74 Million Stake in Alphabet Inc. (NASDAQ:GOOGL)

Boothe Investment Group Inc. trimmed its stake in Alphabet Inc. (NASDAQ:GOOGL) by 30.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 31,352 shares of the information services provider’s stock after selling 13,885 shares during the period. Alphabet comprises about 2.7% of Boothe Investment Group Inc.’s investment portfolio, making the stock its 17th largest position. Boothe Investment Group Inc.’s holdings in Alphabet were worth $5,737,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently bought and sold shares of GOOGL. Norges Bank acquired a new stake in shares of Alphabet during the fourth quarter worth approximately $15,441,917,000. Capital Research Global Investors boosted its holdings in shares of Alphabet by 14.4% in the 1st quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider’s stock worth $8,724,251,000 after acquiring an additional 7,275,757 shares in the last quarter. Vanguard Group Inc. grew its position in Alphabet by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 493,810,251 shares of the information services provider’s stock worth $68,980,354,000 after acquiring an additional 6,374,756 shares during the last quarter. Public Employees Retirement Association of Colorado increased its holdings in Alphabet by 39,754.9% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 6,025,667 shares of the information services provider’s stock valued at $841,725,000 after purchasing an additional 6,010,548 shares in the last quarter. Finally, PineStone Asset Management Inc. raised its position in Alphabet by 143.7% in the 2nd quarter. PineStone Asset Management Inc. now owns 7,072,197 shares of the information services provider’s stock valued at $1,288,201,000 after purchasing an additional 4,170,229 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Trading Down 0.7 %

NASDAQ:GOOGL opened at $161.78 on Friday. The business’s 50-day simple moving average is $174.06 and its 200-day simple moving average is $163.55. Alphabet Inc. has a fifty-two week low of $120.21 and a fifty-two week 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. The stock has a market capitalization of $2.00 trillion, a PE ratio of 24.81, a price-to-earnings-growth ratio of 1.28 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last released its quarterly 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 company had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $70.60 billion. During the same quarter in the prior year, the company earned $1.44 earnings per share. Sell-side analysts expect that Alphabet Inc. will post 7.62 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

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

Insider Buying and Selling at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $176.58, for a total transaction of $3,973,050.00. Following the completion of the transaction, the chief executive officer now directly owns 2,235,511 shares of the company’s stock, valued at $394,746,532.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $176.58, for a total value of $3,973,050.00. Following the sale, the chief executive officer now owns 2,235,511 shares in the company, valued at approximately $394,746,532.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $173.86, for a total transaction of $118,572.52. Following the transaction, the chief accounting officer now directly owns 29,966 shares of the company’s stock, valued at $5,209,888.76. The disclosure for this sale can be found here. Insiders have sold 156,565 shares of company stock valued at $26,823,893 in the last 90 days. 11.55% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of several research analyst reports. Jefferies Financial Group increased their target price on Alphabet from $215.00 to $220.00 in a report on Tuesday, July 9th. JPMorgan Chase & Co. increased their price objective on shares of Alphabet from $200.00 to $208.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. UBS Group upped their target price on shares of Alphabet from $200.00 to $204.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Argus increased their price target on shares of Alphabet from $200.00 to $215.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Finally, TD Securities boosted their price objective on shares of Alphabet from $200.00 to $220.00 in a research report on Wednesday, July 10th. Six analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus target price of $203.74.

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.