Alphabet Inc. (NASDAQ:GOOGL) is Anchor Investment Management LLC’s 7th Largest Position

Anchor Investment Management LLC trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 94,253 shares of the information services provider’s stock after selling 1,605 shares during the quarter. Alphabet makes up approximately 1.8% of Anchor Investment Management LLC’s investment portfolio, making the stock its 7th biggest holding. Anchor Investment Management LLC’s holdings in Alphabet were worth $17,168,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of GOOGL. New Hampshire Trust raised its position in shares of Alphabet by 2.7% in the 2nd quarter. New Hampshire Trust now owns 43,714 shares of the information services provider’s stock worth $7,963,000 after acquiring an additional 1,132 shares in the last quarter. Berkshire Money Management Inc. purchased a new position in Alphabet in the first quarter valued at about $359,000. Schneider Downs Wealth Management Advisors LP raised its holdings 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 worth $962,000 after purchasing an additional 2,351 shares in the last quarter. Sanders Morris Harris LLC purchased a new stake in shares of Alphabet during the first quarter valued at about $842,000. Finally, SWP Financial LLC bought a new stake in shares of Alphabet in the 4th quarter valued at about $200,000. Institutional investors own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

GOOGL has been the subject of a number of analyst reports. BMO Capital Markets decreased their target price on shares of Alphabet from $222.00 to $215.00 and set an “outperform” rating for the company in a research report on Wednesday. Bank of America raised their price objective on Alphabet from $200.00 to $206.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $181.00 target price on shares of Alphabet in a research report on Wednesday, July 24th. Citigroup raised their price target on Alphabet from $190.00 to $212.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Finally, DA Davidson began coverage on shares of Alphabet in a report on Tuesday, September 10th. They set a “neutral” rating and a $170.00 price objective on the stock. Eight equities research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $200.95.

Alphabet Price Performance

Shares of Alphabet stock opened at $163.24 on Friday. The firm has a market cap of $2.01 trillion, a PE ratio of 23.42, a P/E/G ratio of 1.21 and a beta of 1.04. The business has a 50-day moving average price of $161.37 and a 200 day moving average price of $167.63. 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 twelve month low of $120.21 and a twelve month high of $191.75.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share 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 during the quarter, compared to the consensus estimate of $70.60 billion. During the same period in the prior year, the company posted $1.44 EPS. Sell-side analysts predict that Alphabet Inc. will post 7.64 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were given a $0.20 dividend. 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 dividend payout ratio (DPR) is 11.48%.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 1,367 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $168.84, for a total value of $230,804.28. Following the transaction, the chief accounting officer now directly owns 29,183 shares of the company’s stock, valued at approximately $4,927,257.72. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Alphabet news, CAO Amie Thuener O’toole sold 1,367 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $168.84, for a total transaction of $230,804.28. Following the completion of the transaction, the chief accounting officer now owns 29,183 shares of the company’s stock, valued at $4,927,257.72. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $167.07, for a total value of $3,759,075.00. Following the completion of the sale, the chief executive officer now directly owns 2,129,306 shares in the company, valued at $355,743,153.42. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 216,092 shares of company stock valued at $35,644,136 over the last 90 days. Corporate insiders own 11.55% 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.