Fiduciary Group LLC Has $10.91 Million Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Fiduciary Group LLC lowered its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 0.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 59,879 shares of the information services provider’s stock after selling 372 shares during the period. Alphabet comprises about 1.2% of Fiduciary Group LLC’s portfolio, making the stock its 20th largest holding. Fiduciary Group LLC’s holdings in Alphabet were worth $10,907,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Nebula Research & Development LLC acquired a new stake in Alphabet in the fourth quarter valued at $787,000. New Hampshire Trust grew its holdings in Alphabet by 2.7% during the second quarter. New Hampshire Trust now owns 43,714 shares of the information services provider’s stock worth $7,963,000 after purchasing an additional 1,132 shares during the period. Berkshire Money Management Inc. acquired a new position in Alphabet during the first quarter worth approximately $359,000. Schneider Downs Wealth Management Advisors LP raised its stake in Alphabet by 58.4% in the first quarter. Schneider Downs Wealth Management Advisors LP now owns 6,374 shares of the information services provider’s stock valued at $962,000 after buying an additional 2,351 shares during the period. Finally, American International Group Inc. boosted its stake in shares of Alphabet by 11.5% during the 4th quarter. American International Group Inc. now owns 1,951,860 shares of the information services provider’s stock worth $272,655,000 after acquiring an additional 200,891 shares during the period. 40.03% of the stock is owned by institutional investors.

Insider Activity

In other Alphabet news, SVP Prabhakar Raghavan sold 3,262 shares of the stock in a transaction dated 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 in the company, valued at $1,655.91. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Alphabet news, SVP Prabhakar Raghavan sold 3,262 shares of Alphabet stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $183.99, for a total transaction of $600,175.38. Following the completion of the sale, the senior vice president now directly owns 9 shares in the company, valued at approximately $1,655.91. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $182.84, for a total transaction of $4,113,900.00. Following the sale, the chief executive officer now owns 2,204,885 shares of the company’s stock, valued at $403,141,173.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 180,867 shares of company stock worth $29,878,106. 11.55% of the stock is currently owned by company insiders.

Alphabet Price Performance

NASDAQ:GOOGL opened at $163.95 on Friday. The firm has a market capitalization of $2.03 trillion, a price-to-earnings ratio of 25.15, a PEG ratio of 1.21 and a beta of 1.04. Alphabet Inc. has a 1 year low of $120.21 and a 1 year high of $191.75. The business has a 50 day simple moving average of $163.11 and a 200-day simple moving average of $166.11. 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 (NASDAQ:GOOGL) last issued its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The firm had revenue of $84.74 billion during the quarter, compared to analyst estimates of $70.60 billion. During the same period last year, the company earned $1.44 EPS. Equities analysts forecast that Alphabet Inc. will post 7.63 EPS for the current year.

Alphabet Announces Dividend

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

Wall Street Analyst Weigh In

GOOGL has been the subject of a number of research reports. Cantor Fitzgerald reissued a “neutral” rating and set a $190.00 target price on shares of Alphabet in a report on Monday, September 23rd. Tigress Financial boosted their price objective on shares of Alphabet from $210.00 to $220.00 and gave the company a “strong-buy” rating in a report on Thursday. JMP Securities reaffirmed a “market outperform” rating and set a $200.00 target price on shares of Alphabet in a report on Wednesday. Wolfe Research started coverage on Alphabet in a research report on Tuesday, July 16th. They set an “outperform” rating and a $240.00 price target on the stock. Finally, Royal Bank of Canada lifted their price objective on Alphabet from $200.00 to $204.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Eight investment analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and a consensus target price of $201.35.

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.