Alphabet Inc. (NASDAQ:GOOG) Stock Holdings Trimmed by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC lowered its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 4.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,179,044 shares of the information services provider’s stock after selling 208,538 shares during the quarter. Alphabet comprises approximately 2.7% of Los Angeles Capital Management LLC’s portfolio, making the stock its 6th biggest position. Los Angeles Capital Management LLC’s holdings in Alphabet were worth $766,520,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Partnership Wealth Management LLC bought a new position in Alphabet during the 4th quarter valued at approximately $26,000. Richardson Financial Services Inc. purchased a new stake in shares of Alphabet in the fourth quarter worth $34,000. 1620 Investment Advisors Inc. bought a new position in shares of Alphabet during the second quarter valued at $37,000. Slocum Gordon & Co LLP purchased a new position in shares of Alphabet in the 2nd quarter worth about $44,000. Finally, Hoese & Co LLP boosted its stake in Alphabet by 62.5% in the 2nd quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock worth $45,000 after purchasing an additional 100 shares in the last quarter. Institutional investors own 27.26% of the company’s stock.

Alphabet Stock Down 1.7 %

Alphabet stock opened at $149.54 on Tuesday. The stock has a market cap of $1.84 trillion, a PE ratio of 22.94, a price-to-earnings-growth ratio of 1.13 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. The stock has a fifty day moving average of $171.80 and a 200 day moving average of $165.96. Alphabet Inc. has a one year low of $121.46 and a one year high of $193.31.

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

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 9th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.53%. The ex-dividend date is Monday, September 9th. Alphabet’s dividend payout ratio is presently 12.27%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on GOOG shares. Oppenheimer lifted their target price on shares of Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. TD Cowen upped their price objective on Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Rosenblatt Securities downgraded Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price on the stock. in a research note on Friday, June 28th. Wolfe Research upgraded Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. Finally, Cantor Fitzgerald raised Alphabet to a “hold” rating in a research report on Thursday, September 5th. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $182.86.

Insider Activity

In related news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $183.47, for a total value of $125,126.54. Following the transaction, the chief accounting officer now directly owns 30,650 shares of the company’s stock, valued at approximately $5,623,355.50. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total value of $125,126.54. Following the completion of the sale, the chief accounting officer now directly owns 30,650 shares of the company’s stock, valued at approximately $5,623,355.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $177.40, for a total transaction of $3,991,500.00. Following the transaction, the chief executive officer now directly owns 2,213,011 shares in the company, valued at approximately $392,588,151.40. The disclosure for this sale can be found here. Insiders sold a total of 200,532 shares of company stock valued at $34,055,874 in the last 90 days. Company insiders own 12.99% of the company’s stock.

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.