Alphabet Inc. (NASDAQ:GOOG) Position Decreased by Victory Capital Management Inc.

Victory Capital Management Inc. lowered its position in Alphabet Inc. (NASDAQ:GOOG) by 0.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,711,086 shares of the information services provider’s stock after selling 42,291 shares during the quarter. Alphabet makes up about 1.1% of Victory Capital Management Inc.’s holdings, making the stock its 6th biggest holding. Victory Capital Management Inc.’s holdings in Alphabet were worth $1,047,527,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Partnership Wealth Management LLC purchased a new position in Alphabet in the fourth quarter valued at approximately $26,000. 1620 Investment Advisors Inc. acquired a new position in shares of Alphabet in the 2nd quarter valued at $37,000. Richardson Financial Services Inc. purchased a new position in shares of Alphabet in the 4th quarter valued at $34,000. Hoese & Co LLP grew its holdings in shares of Alphabet by 62.5% during the second quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock worth $45,000 after purchasing an additional 100 shares during the last quarter. Finally, Iron Horse Wealth Management LLC purchased a new stake in shares of Alphabet in the 2nd quarter valued at about $48,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Price Performance

Shares of GOOG opened at $152.13 on Friday. The firm has a market capitalization of $1.88 trillion, a PE ratio of 23.33, a P/E/G ratio of 1.22 and a beta of 1.05. The stock’s 50 day moving average is $172.50 and its two-hundred day moving average is $165.78. Alphabet Inc. has a twelve month low of $121.46 and a twelve month 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 posted its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. The firm had revenue of $84.74 billion for the quarter, compared to the consensus estimate of $84.22 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The company’s revenue for the quarter was up 13.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.44 earnings per share. Research analysts anticipate that Alphabet Inc. will post 7.63 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 9th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.53%. The ex-dividend date of this dividend is Monday, September 9th. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

Insiders Place Their Bets

In other news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $158.68, for a total transaction of $3,570,300.00. Following the sale, the chief executive officer now owns 2,137,385 shares in the company, valued at $339,160,251.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $158.68, for a total transaction of $3,570,300.00. Following the completion of the sale, the chief executive officer now owns 2,137,385 shares in the company, valued at approximately $339,160,251.80. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Prabhakar Raghavan sold 3,262 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $183.99, for a total value of $600,175.38. Following the transaction, the senior vice president now owns 9 shares of the company’s stock, valued at $1,655.91. The disclosure for this sale can be found here. Insiders sold a total of 200,532 shares of company stock worth $34,055,874 in the last 90 days. 12.99% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

GOOG has been the topic of a number of recent research reports. TD Cowen lifted their target price on shares of Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Oppenheimer lifted their price objective on shares of Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Wolfe Research upgraded shares of Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. Cantor Fitzgerald upgraded Alphabet to a “hold” rating in a research note on Thursday. Finally, Rosenblatt Securities cut Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target for the company. in a research note on Friday, June 28th. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $182.86.

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.