Alphabet Inc. (NASDAQ:GOOG) Stake Cut by Capital Management Associates NY

Capital Management Associates NY lowered its holdings in Alphabet Inc. (NASDAQ:GOOG) by 5.0% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 16,175 shares of the information services provider’s stock after selling 853 shares during the quarter. Alphabet accounts for approximately 3.5% of Capital Management Associates NY’s investment portfolio, making the stock its 5th largest holding. Capital Management Associates NY’s holdings in Alphabet were worth $2,967,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Park Avenue Securities LLC raised its holdings in shares of Alphabet by 11.9% in the 1st 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 raised its holdings in shares of Alphabet by 5.3% in the 2nd quarter. Colonial River Wealth Management LLC now owns 2,126 shares of the information services provider’s stock valued at $390,000 after acquiring an additional 107 shares in the last quarter. Oak Ridge Investments LLC raised its holdings in shares of Alphabet by 4.6% in the 1st quarter. Oak Ridge Investments LLC now owns 187,229 shares of the information services provider’s stock valued at $28,508,000 after acquiring an additional 8,201 shares in the last quarter. V Square Quantitative Management LLC raised its holdings in shares of Alphabet by 0.7% in the 1st quarter. V Square Quantitative Management LLC now owns 62,917 shares of the information services provider’s stock valued at $9,580,000 after acquiring an additional 426 shares in the last quarter. Finally, AMG National Trust Bank raised its holdings in shares of Alphabet by 1.0% in the 4th quarter. AMG National Trust Bank now owns 67,054 shares of the information services provider’s stock valued at $9,450,000 after acquiring an additional 671 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on GOOG. DA Davidson raised Alphabet to a “hold” rating in a report on Tuesday. Wolfe Research raised Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. Rosenblatt Securities cut Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective on the stock. in a report on Friday, June 28th. Cantor Fitzgerald raised Alphabet to a “hold” rating in a report on Thursday, September 5th. Finally, TD Cowen raised their price objective on Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Three 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 company. Based on data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus price target of $182.86.

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction that occurred 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 sale, the chief accounting officer now directly owns 30,650 shares in the company, valued at approximately $5,623,355.50. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction that occurred 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 sale, the chief accounting officer now directly owns 30,650 shares in the company, valued at approximately $5,623,355.50. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Prabhakar Raghavan sold 34,257 shares of Alphabet stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total value of $5,570,188.20. Following the completion of the sale, the senior vice president now owns 312,210 shares in the company, valued at $50,765,346. The disclosure for this sale can be found here. In the last three months, insiders have sold 201,867 shares of company stock worth $34,218,581. 12.99% of the stock is currently owned by insiders.

Alphabet Price Performance

GOOG opened at $158.37 on Friday. The stock’s 50 day simple moving average is $169.06 and its 200 day simple moving average is $165.96. 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 Inc. has a 1 year low of $121.46 and a 1 year high of $193.31. The firm has a market cap of $1.95 trillion, a price-to-earnings ratio of 24.29, a PEG ratio of 1.13 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping 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 business had revenue of $84.74 billion for the quarter, compared to analyst estimates of $84.22 billion. During the same period last year, the company earned $1.44 EPS. Alphabet’s revenue for the quarter was up 13.6% compared to the same quarter last year. As a group, analysts predict that Alphabet Inc. will post 7.63 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently disclosed 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 is Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.51%. Alphabet’s dividend payout ratio is currently 12.27%.

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.