DRH Investments Inc. Sells 10,312 Shares of Alphabet Inc. (NASDAQ:GOOG)

DRH Investments Inc. trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 10.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 93,239 shares of the information services provider’s stock after selling 10,312 shares during the quarter. Alphabet makes up approximately 18.5% of DRH Investments Inc.’s investment portfolio, making the stock its largest position. DRH Investments Inc.’s holdings in Alphabet were worth $17,102,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in GOOG. Park Avenue Securities LLC lifted its position in shares of Alphabet by 11.9% in the first quarter. Park Avenue Securities LLC now owns 109,878 shares of the information services provider’s stock valued at $16,730,000 after acquiring an additional 11,646 shares in the last quarter. Colonial River Wealth Management LLC boosted its stake in Alphabet by 5.3% during the 2nd 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 last quarter. Oak Ridge Investments LLC boosted its stake in Alphabet by 4.6% during the 1st 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 last quarter. Rosenberg Matthew Hamilton grew its holdings in shares of Alphabet by 4.6% during the second quarter. Rosenberg Matthew Hamilton now owns 11,366 shares of the information services provider’s stock worth $2,097,000 after buying an additional 498 shares in the last quarter. Finally, Alliance Wealth Management Group raised its position in shares of Alphabet by 93.6% in the first quarter. Alliance Wealth Management Group now owns 3,910 shares of the information services provider’s stock valued at $595,000 after buying an additional 1,890 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. DA Davidson upgraded shares of Alphabet to a “hold” rating in a research report on Tuesday, September 10th. TD Cowen upped their price target on Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Cantor Fitzgerald raised Alphabet to a “hold” rating in a report on Thursday, September 5th. Rosenblatt Securities lowered Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective on the stock. in a research note on Friday, June 28th. Finally, Oppenheimer raised their target price on Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $182.86.

Alphabet Price Performance

NASDAQ:GOOG opened at $164.64 on Friday. The company has a market capitalization of $2.03 trillion, a P/E ratio of 25.25, a P/E/G ratio of 1.13 and a beta of 1.04. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 52 week low of $121.46 and a 52 week high of $193.31. The stock’s fifty day moving average is $166.26 and its two-hundred day moving average is $166.79.

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

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were given a dividend of $0.20 per share. The ex-dividend date was Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.49%. Alphabet’s payout ratio is currently 12.27%.

Insider Activity at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $160.63, for a total transaction of $3,614,175.00. Following the transaction, the chief executive officer now directly owns 2,114,885 shares in the company, valued at $339,713,977.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CAO Amie Thuener O’toole sold 682 shares of Alphabet 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 transaction, the chief accounting officer now 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 available at the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $160.63, for a total transaction of $3,614,175.00. Following the sale, the chief executive officer now owns 2,114,885 shares in the company, valued at $339,713,977.55. The disclosure for this sale can be found here. In the last quarter, insiders sold 202,667 shares of company stock worth $33,964,256. Insiders own 12.99% of the company’s stock.

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.