YHB Investment Advisors Inc. Cuts Stake in Alphabet Inc. (NASDAQ:GOOG)

YHB Investment Advisors Inc. reduced its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.0% in the second quarter, according to its most recent filing with the SEC. The fund owned 149,518 shares of the information services provider’s stock after selling 3,007 shares during the period. Alphabet comprises 2.4% of YHB Investment Advisors Inc.’s portfolio, making the stock its 8th biggest position. YHB Investment Advisors Inc.’s holdings in Alphabet were worth $27,425,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Alphabet during the fourth quarter worth $4,101,040,000. JPMorgan Chase & Co. increased its stake in Alphabet by 19.7% in the 1st quarter. JPMorgan Chase & Co. now owns 84,171,721 shares of the information services provider’s stock worth $12,815,986,000 after buying an additional 13,876,534 shares during the period. Swedbank AB bought a new stake in Alphabet during the 1st quarter valued at about $1,378,708,000. Capital International Investors boosted its position in Alphabet by 9.3% in the 1st quarter. Capital International Investors now owns 87,716,562 shares of the information services provider’s stock valued at $13,355,724,000 after buying an additional 7,470,042 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Alphabet by 51.8% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 6,416,150 shares of the information services provider’s stock worth $976,923,000 after acquiring an additional 2,190,795 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Wall Street Analyst Weigh In

GOOG has been the subject of several research analyst reports. Oppenheimer lifted their price target on shares of Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. TD Cowen raised 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. Wolfe Research upgraded Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. Finally, Rosenblatt Securities lowered 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. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $182.86.

Alphabet Stock Down 0.5 %

Shares of NASDAQ GOOG opened at $157.81 on Thursday. Alphabet Inc. has a 12-month low of $121.46 and a 12-month high of $193.31. The stock’s fifty day simple moving average is $173.69 and its two-hundred day simple moving average is $165.59. The stock has a market capitalization of $1.95 trillion, a PE ratio of 24.20, a price-to-earnings-growth ratio of 1.22 and a beta of 1.05. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04.

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

Alphabet Announces Dividend

The company 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 0.51%. The ex-dividend date of this dividend is Monday, September 9th. Alphabet’s payout ratio is currently 12.27%.

Insider Buying and Selling

In other Alphabet news, SVP Prabhakar Raghavan sold 3,262 shares of Alphabet stock in a transaction on Monday, July 1st. The shares were sold at an average price of $183.99, for a total value of $600,175.38. Following the transaction, the senior vice president now directly owns 9 shares of the company’s stock, valued at $1,655.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director John L. Hennessy sold 1,500 shares of the company’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $177.92, for a total transaction of $266,880.00. Following the transaction, the director now directly owns 3,727 shares of the company’s stock, valued at approximately $663,107.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Prabhakar Raghavan sold 3,262 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $183.99, for a total value of $600,175.38. Following the completion of the sale, the senior vice president now directly owns 9 shares of the company’s stock, valued at approximately $1,655.91. The disclosure for this sale can be found here. Insiders sold a total of 156,565 shares of company stock worth $27,043,340 in the last 90 days. 12.99% of the stock is owned by corporate insiders.

About Alphabet

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.