Welch Capital Partners LLC NY Has $26.11 Million Position in Alphabet Inc. (NASDAQ:GOOG)

Welch Capital Partners LLC NY lowered its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 11.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 142,366 shares of the information services provider’s stock after selling 19,017 shares during the quarter. Alphabet accounts for about 6.2% of Welch Capital Partners LLC NY’s portfolio, making the stock its 4th largest position. Welch Capital Partners LLC NY’s holdings in Alphabet were worth $26,113,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Liberty Wealth Management LLC raised its stake in shares of Alphabet by 1.8% in the second quarter. Liberty Wealth Management LLC now owns 11,194 shares of the information services provider’s stock valued at $2,053,000 after acquiring an additional 201 shares during the period. Choreo LLC raised its stake in shares of Alphabet by 139.8% in the second quarter. Choreo LLC now owns 202,905 shares of the information services provider’s stock valued at $37,425,000 after acquiring an additional 118,278 shares during the period. Roof Eidam Maycock Peralta LLC raised its stake in shares of Alphabet by 0.4% in the second quarter. Roof Eidam Maycock Peralta LLC now owns 26,572 shares of the information services provider’s stock valued at $4,874,000 after acquiring an additional 116 shares during the period. Clifford Swan Investment Counsel LLC increased its stake in Alphabet by 0.3% in the 2nd quarter. Clifford Swan Investment Counsel LLC now owns 161,049 shares of the information services provider’s stock worth $29,540,000 after buying an additional 480 shares during the period. Finally, Financial Futures Ltd Liability Co. increased its stake in Alphabet by 5.6% in the 2nd quarter. Financial Futures Ltd Liability Co. now owns 7,488 shares of the information services provider’s stock worth $1,373,000 after buying an additional 400 shares during the period. Institutional investors own 27.26% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Rosenblatt Securities downgraded shares of 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. Wolfe Research raised shares of Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. Cantor Fitzgerald raised shares of Alphabet to a “hold” rating in a research note on Thursday, September 5th. Oppenheimer raised their price target on shares of Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Finally, TD Cowen raised their price target on shares of Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and an average target price of $182.86.

Alphabet Trading Up 1.4 %

NASDAQ GOOG opened at $152.15 on Thursday. 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 company has a market capitalization of $1.87 trillion, a price-to-earnings ratio of 23.34, a price-to-earnings-growth ratio of 1.13 and a beta of 1.04. The company’s 50-day simple moving average is $170.36 and its two-hundred day simple moving average is $165.90. Alphabet Inc. has a one year low of $121.46 and a one year high of $193.31.

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

Alphabet Announces Dividend

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

Insider Activity

In other news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $177.40, for a total value of $3,991,500.00. Following the sale, the chief executive officer now directly owns 2,213,011 shares in the company, valued at approximately $392,588,151.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, SVP Prabhakar Raghavan sold 34,257 shares of Alphabet stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $162.60, for a total value of $5,570,188.20. Following the completion of the sale, the senior vice president now directly owns 312,210 shares in the company, valued at approximately $50,765,346. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $177.40, for a total transaction of $3,991,500.00. Following the completion of the sale, the chief executive officer now owns 2,213,011 shares of the company’s stock, valued at $392,588,151.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 201,867 shares of company stock worth $34,218,581. Corporate 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.