Thompson Siegel & Walmsley LLC Lowers Holdings in Alphabet Inc. (NASDAQ:GOOG)

Thompson Siegel & Walmsley LLC reduced its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 8.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 342,059 shares of the information services provider’s stock after selling 32,680 shares during the period. Thompson Siegel & Walmsley LLC’s holdings in Alphabet were worth $62,740,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. MayTech Global Investments LLC increased its holdings in shares of Alphabet by 2.4% in the 2nd quarter. MayTech Global Investments LLC now owns 219,439 shares of the information services provider’s stock worth $40,249,000 after buying an additional 5,052 shares during the last quarter. Hanson & Doremus Investment Management raised its position in Alphabet by 2.1% during the second quarter. Hanson & Doremus Investment Management now owns 28,977 shares of the information services provider’s stock valued at $5,315,000 after purchasing an additional 601 shares in the last quarter. Garrison Asset Management LLC lifted its stake in Alphabet by 1.1% during the second quarter. Garrison Asset Management LLC now owns 20,133 shares of the information services provider’s stock worth $3,693,000 after purchasing an additional 220 shares during the last quarter. Diversify Wealth Management LLC purchased a new position in shares of Alphabet in the 2nd quarter worth about $5,495,000. Finally, Williams Financial LLC bought a new position in shares of Alphabet during the 2nd quarter valued at about $644,000. Institutional investors own 27.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on GOOG shares. Cantor Fitzgerald upgraded shares of Alphabet to a “hold” rating in a research report on Thursday, September 5th. TD Cowen boosted 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. DA Davidson upgraded Alphabet to a “hold” rating in a report on Tuesday, September 10th. Rosenblatt Securities cut Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price for the company. in a report on Friday, June 28th. Finally, Oppenheimer lifted their price target on Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and a consensus price target of $182.86.

Insider Buying and Selling

In other news, Director John L. Hennessy sold 800 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $153.75, for a total value of $123,000.00. Following the completion of the transaction, the director now owns 28,524 shares in the company, valued at approximately $4,385,565. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CAO Amie Thuener O’toole sold 2,835 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total value of $429,587.55. Following the sale, the chief accounting officer now owns 29,182 shares in the company, valued at approximately $4,421,948.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John L. Hennessy sold 800 shares of the business’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $153.75, for a total value of $123,000.00. Following the completion of the sale, the director now directly owns 28,524 shares in the company, valued at $4,385,565. The disclosure for this sale can be found here. Insiders sold a total of 202,667 shares of company stock valued at $34,341,581 over the last three months. Corporate insiders own 12.99% of the company’s stock.

Alphabet Stock Up 0.4 %

Shares of NASDAQ:GOOG opened at $158.99 on Tuesday. Alphabet Inc. has a 1 year low of $121.46 and a 1 year high of $193.31. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. The stock’s 50-day moving average is $168.43 and its 200 day moving average is $166.48. The company has a market cap of $1.96 trillion, a PE ratio of 24.39, a P/E/G ratio of 1.13 and a beta of 1.04.

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

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date was Monday, September 9th. Alphabet’s payout ratio is 12.27%.

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.