Chilton Capital Management LLC Cuts Stake in Alphabet Inc. (NASDAQ:GOOGL)

Chilton Capital Management LLC decreased its position in Alphabet Inc. (NASDAQ:GOOGL) by 1.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 128,496 shares of the information services provider’s stock after selling 2,152 shares during the period. Chilton Capital Management LLC’s holdings in Alphabet were worth $23,406,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in GOOGL. Christopher J. Hasenberg Inc grew its stake in shares of Alphabet by 75.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after purchasing an additional 60 shares during the period. Vermillion & White Wealth Management Group LLC purchased a new stake in Alphabet during the fourth quarter worth about $30,000. Tributary Capital Management LLC acquired a new position in Alphabet during the first quarter worth about $30,000. Kings Path Partners LLC acquired a new stake in shares of Alphabet during the 2nd quarter valued at approximately $36,000. Finally, CarsonAllaria Wealth Management Ltd. boosted its stake in shares of Alphabet by 59.2% during the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock worth $44,000 after acquiring an additional 109 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Trading Up 1.8 %

NASDAQ GOOGL opened at $157.46 on Monday. The company’s fifty day moving average price is $167.46 and its two-hundred day moving average price is $164.87. The company has a market capitalization of $1.94 trillion, a price-to-earnings ratio of 24.15, a price-to-earnings-growth ratio of 1.13 and a beta of 1.04. Alphabet Inc. has a 12 month low of $120.21 and a 12 month 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.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, topping the consensus estimate of $1.85 by $0.04. The business had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $70.60 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same quarter last year, the company posted $1.44 earnings per share. As a group, research analysts predict that Alphabet Inc. will post 7.64 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently announced 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 of this dividend is Monday, September 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.51%. Alphabet’s payout ratio is 12.27%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on GOOGL shares. Jefferies Financial Group raised their price objective on Alphabet from $215.00 to $220.00 in a research note on Tuesday, July 9th. Evercore ISI increased their target price on Alphabet from $220.00 to $225.00 and gave the company an “outperform” rating in a report on Tuesday, June 11th. DA Davidson assumed coverage on Alphabet in a report on Tuesday, September 10th. They issued a “neutral” rating and a $170.00 price target for the company. JPMorgan Chase & Co. increased their price objective on Alphabet from $200.00 to $208.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Finally, UBS Group boosted their target price on shares of Alphabet from $200.00 to $204.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Eight equities research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $201.76.

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 transaction of $125,126.54. Following the transaction, the chief accounting officer now directly owns 30,650 shares in the company, valued at $5,623,355.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, SVP Prabhakar Raghavan sold 34,257 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the sale, the senior vice president now directly owns 312,210 shares in the company, valued at approximately $50,765,346. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the business’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 value of $125,126.54. Following the transaction, the chief accounting officer now owns 30,650 shares of the company’s stock, valued at approximately $5,623,355.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 179,367 shares of company stock worth $30,016,931. 11.55% of the stock is currently owned by insiders.

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.