Nelson Capital Management LLC Sells 70 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Nelson Capital Management LLC lessened its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 1.7% during the second quarter, Holdings Channel.com reports. The firm owned 4,024 shares of the information services provider’s stock after selling 70 shares during the quarter. Nelson Capital Management LLC’s holdings in Alphabet were worth $733,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Capital Research Global Investors boosted its stake in shares of Alphabet by 14.4% during the first quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider’s stock valued at $8,724,251,000 after purchasing an additional 7,275,757 shares during the period. Vanguard Group Inc. raised its holdings in Alphabet by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 493,810,251 shares of the information services provider’s stock valued at $68,980,354,000 after buying an additional 6,374,756 shares during the last quarter. Public Employees Retirement Association of Colorado boosted its position in Alphabet by 39,754.9% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 6,025,667 shares of the information services provider’s stock valued at $841,725,000 after buying an additional 6,010,548 shares during the period. PineStone Asset Management Inc. grew its holdings in Alphabet by 143.7% in the 2nd quarter. PineStone Asset Management Inc. now owns 7,072,197 shares of the information services provider’s stock worth $1,288,201,000 after acquiring an additional 4,170,229 shares during the last quarter. Finally, National Bank of Canada FI increased its position in shares of Alphabet by 91.0% in the second quarter. National Bank of Canada FI now owns 7,928,470 shares of the information services provider’s stock valued at $1,450,599,000 after acquiring an additional 3,777,527 shares during the period. 40.03% of the stock is owned by institutional investors.

Alphabet Stock Performance

GOOGL stock opened at $162.73 on Friday. The stock has a market capitalization of $2.01 trillion, a PE ratio of 24.96, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04. The stock’s 50 day simple moving average is $163.41 and its 200 day simple moving average is $166.14. Alphabet Inc. has a 12-month low of $120.21 and a 12-month high of $191.75. 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:GOOGL) last released its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The company had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $70.60 billion. During the same period last year, the firm posted $1.44 earnings per share. As a group, research analysts forecast that Alphabet Inc. will post 7.63 earnings per share for the current fiscal year.

Alphabet Announces Dividend

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

Analyst Upgrades and Downgrades

GOOGL has been the subject of a number of analyst reports. Bank of America increased their target price on shares of Alphabet from $200.00 to $206.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Jefferies Financial Group lifted their price objective on Alphabet from $215.00 to $220.00 in a research report on Tuesday, July 9th. Rosenblatt Securities restated a “neutral” rating and set a $181.00 target price on shares of Alphabet in a report on Wednesday, July 24th. Citigroup lifted their price target on shares of Alphabet from $190.00 to $212.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Finally, Needham & Company LLC reissued a “buy” rating and set a $210.00 price objective on shares of Alphabet in a research report on Friday, August 30th. Eight research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $201.35.

Insider Activity at Alphabet

In other Alphabet 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 sale, the chief accounting officer now owns 30,650 shares of the company’s stock, valued at approximately $5,623,355.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other 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 value of $125,126.54. Following the transaction, the chief accounting officer now directly owns 30,650 shares in the company, valued at approximately $5,623,355.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Prabhakar Raghavan sold 3,262 shares of Alphabet stock in a transaction on Monday, July 1st. The stock was sold at an average price of $183.99, for a total value of $600,175.38. Following the completion of the sale, the senior vice president now directly owns 9 shares of the company’s stock, valued at approximately $1,655.91. The disclosure for this sale can be found here. Insiders have sold a total of 180,867 shares of company stock worth $29,878,106 over the last quarter. Company insiders own 11.55% of the company’s stock.

Alphabet Company 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.