Gilman Hill Asset Management LLC Has $2.50 Million Position in Alphabet Inc. $GOOG
by Renee Jackson · The Cerbat GemGilman Hill Asset Management LLC increased its position in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 3.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 14,101 shares of the information services provider’s stock after buying an additional 486 shares during the period. Gilman Hill Asset Management LLC’s holdings in Alphabet were worth $2,501,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Alphabet by 2.4% in the first quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider’s stock worth $64,299,725,000 after buying an additional 9,687,855 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Alphabet by 9.9% during the first quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider’s stock worth $15,971,861,000 after purchasing an additional 9,243,959 shares during the period. Deutsche Bank AG boosted its position in Alphabet by 5.4% during the first quarter. Deutsche Bank AG now owns 21,345,784 shares of the information services provider’s stock worth $3,334,852,000 after purchasing an additional 1,098,996 shares during the period. Invesco Ltd. boosted its position in Alphabet by 2.2% during the first quarter. Invesco Ltd. now owns 20,380,073 shares of the information services provider’s stock worth $3,183,979,000 after purchasing an additional 440,526 shares during the period. Finally, Nuveen LLC bought a new stake in Alphabet during the first quarter worth approximately $2,622,943,000. Institutional investors and hedge funds own 27.26% of the company’s stock.
Alphabet Stock Performance
Alphabet stock opened at $249.85 on Thursday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The stock has a fifty day moving average price of $207.12 and a two-hundred day moving average price of $180.46. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $253.23. The firm has a market capitalization of $3.02 trillion, a P/E ratio of 26.61, a P/E/G ratio of 1.69 and a beta of 1.01.
Alphabet (NASDAQ:GOOG – Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.19. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The firm had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.67 billion. During the same period in the prior year, the company posted $1.89 earnings per share. The business’s revenue for the quarter was up 13.8% compared to the same quarter last year. As a group, analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current fiscal year.
Alphabet Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.3%. The ex-dividend date was Monday, September 8th. Alphabet’s dividend payout ratio is currently 8.95%.
Wall Street Analyst Weigh In
A number of equities research analysts have issued reports on GOOG shares. The Goldman Sachs Group reaffirmed a “buy” rating and set a $220.00 target price on shares of Alphabet in a research report on Monday, June 2nd. Phillip Securities cut Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research report on Monday, September 8th. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Alphabet in a research report on Wednesday, July 9th. Citizens Jmp raised Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Thursday, June 26th. Finally, Piper Sandler reaffirmed a “neutral” rating on shares of Alphabet in a research report on Wednesday, July 9th. Four equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $227.56.
Get Our Latest Stock Analysis on Alphabet
Insider Buying and Selling
In other Alphabet news, insider John Kent Walker sold 23,820 shares of the stock in a transaction on Monday, August 4th. The stock was sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the completion of the transaction, the insider directly owned 42,999 shares in the company, valued at $8,371,905.30. This represents a 35.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 2,778 shares of the stock in a transaction on Monday, September 15th. The stock was sold at an average price of $245.00, for a total value of $680,610.00. Following the sale, the chief accounting officer owned 17,293 shares in the company, valued at $4,236,785. The trade was a 13.84% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 258,088 shares of company stock valued at $52,405,304. 12.99% of the stock is owned by insiders.
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.
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