Vision Capital Management Inc. Sells 327 Shares of Alphabet Inc. (NASDAQ:GOOG)

Vision Capital Management Inc. reduced its stake in Alphabet Inc. (NASDAQ:GOOG) by 10.3% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,855 shares of the information services provider’s stock after selling 327 shares during the period. Vision Capital Management Inc.’s holdings in Alphabet were worth $524,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Park Avenue Securities LLC grew its holdings in shares of Alphabet by 11.9% in the 1st quarter. Park Avenue Securities LLC now owns 109,878 shares of the information services provider’s stock valued at $16,730,000 after buying an additional 11,646 shares during the period. Colonial River Wealth Management LLC raised its position in shares of Alphabet by 5.3% during the second quarter. Colonial River Wealth Management LLC now owns 2,126 shares of the information services provider’s stock worth $390,000 after purchasing an additional 107 shares during the period. Oak Ridge Investments LLC raised its position in shares of Alphabet by 4.6% during the first quarter. Oak Ridge Investments LLC now owns 187,229 shares of the information services provider’s stock worth $28,508,000 after purchasing an additional 8,201 shares during the period. V Square Quantitative Management LLC grew its position in shares of Alphabet by 0.7% in the 1st quarter. V Square Quantitative Management LLC now owns 62,917 shares of the information services provider’s stock valued at $9,580,000 after purchasing an additional 426 shares during the period. Finally, AMG National Trust Bank grew its position in shares of Alphabet by 1.0% in the 4th quarter. AMG National Trust Bank now owns 67,054 shares of the information services provider’s stock valued at $9,450,000 after purchasing an additional 671 shares during the period. 27.26% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Wolfe Research upgraded shares of Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. Cantor Fitzgerald upgraded Alphabet to a “hold” rating in a report on Thursday, September 5th. DA Davidson raised Alphabet to a “hold” rating in a research report on Tuesday. TD Cowen lifted their price objective on shares of Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Finally, Oppenheimer increased their price objective on Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Three investment 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 stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $182.86.

Alphabet Price Performance

Shares of NASDAQ GOOG opened at $155.54 on Friday. The business’s 50 day moving average is $169.73 and its 200-day moving average is $165.83. The firm has a market cap of $1.92 trillion, a P/E ratio of 23.86, a price-to-earnings-growth ratio of 1.13 and a beta of 1.04. Alphabet Inc. has a 1-year low of $121.46 and a 1-year high of $193.31. 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 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 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 $84.22 billion. During the same quarter in the previous year, the business posted $1.44 earnings per share. Alphabet’s quarterly revenue was up 13.6% on a year-over-year basis. Equities research analysts predict that Alphabet Inc. will post 7.63 earnings per share for the current year.

Alphabet Announces Dividend

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 given a $0.20 dividend. The ex-dividend date is Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.51%. Alphabet’s payout ratio is 12.27%.

Insider Activity at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of Alphabet 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 completion of 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 Securities & Exchange Commission, which is available through this hyperlink. In other news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total transaction of $125,126.54. Following the completion of the sale, the chief accounting officer now 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 accessible through this hyperlink. Also, insider John Kent Walker sold 21,467 shares of Alphabet stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $160.35, for a total transaction of $3,442,233.45. Following the completion of the transaction, the insider now directly owns 39,334 shares in the company, valued at $6,307,206.90. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 201,867 shares of company stock worth $34,218,581. 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.