Alphabet Inc. $GOOG Shares Sold by Stevens Capital Management LP
by Jessica Moore · The Cerbat GemStevens Capital Management LP trimmed its position in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 55.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,046 shares of the information services provider’s stock after selling 16,373 shares during the period. Stevens Capital Management LP’s holdings in Alphabet were worth $2,314,000 as of its most recent SEC filing.
A number of other large investors also recently bought and sold shares of GOOG. REDW Wealth LLC raised its holdings in Alphabet by 2.3% during the second quarter. REDW Wealth LLC now owns 2,410 shares of the information services provider’s stock worth $428,000 after purchasing an additional 54 shares in the last quarter. GDS Wealth Management increased its position in Alphabet by 2.4% during the 2nd quarter. GDS Wealth Management now owns 2,325 shares of the information services provider’s stock worth $412,000 after purchasing an additional 54 shares during the period. ACT Advisors LLC. raised its stake in shares of Alphabet by 3.5% during the 2nd quarter. ACT Advisors LLC. now owns 1,625 shares of the information services provider’s stock worth $288,000 after buying an additional 55 shares in the last quarter. Moser Wealth Advisors LLC lifted its holdings in shares of Alphabet by 2.2% in the 2nd quarter. Moser Wealth Advisors LLC now owns 2,545 shares of the information services provider’s stock valued at $451,000 after buying an additional 55 shares during the period. Finally, LongView Wealth Management lifted its holdings in shares of Alphabet by 1.1% in the 2nd quarter. LongView Wealth Management now owns 5,126 shares of the information services provider’s stock valued at $909,000 after buying an additional 56 shares during the period. Hedge funds and other institutional investors own 27.26% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of brokerages recently weighed in on GOOG. HSBC reaffirmed a “buy” rating and set a $335.00 price objective on shares of Alphabet in a report on Thursday, October 30th. Pivotal Research increased their price target on shares of Alphabet from $300.00 to $350.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Piper Sandler raised their price objective on shares of Alphabet from $285.00 to $330.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. Cowen restated a “buy” rating on shares of Alphabet in a research report on Thursday, October 30th. Finally, Hsbc Global Res raised shares of Alphabet to a “strong-buy” rating in a report on Tuesday, October 7th. Seven analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, four have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $324.81.
View Our Latest Report on GOOG
Insider Buying and Selling
In related news, CAO Amie Thuener O’toole sold 2,778 shares of the stock in a transaction on Monday, November 17th. The stock was sold at an average price of $288.26, for a total transaction of $800,786.28. Following the sale, the chief accounting officer owned 11,739 shares of the company’s stock, valued at $3,383,884.14. This trade represents a 19.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, November 19th. The stock was sold at an average price of $296.64, for a total value of $9,640,800.00. Following the sale, the chief executive officer owned 2,304,619 shares of the company’s stock, valued at approximately $683,642,180.16. This represents a 1.39% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 227,952 shares of company stock worth $58,896,009 in the last quarter. Corporate insiders own 12.99% of the company’s stock.
Alphabet Price Performance
Alphabet stock opened at $299.65 on Friday. The firm has a market capitalization of $3.62 trillion, a PE ratio of 29.55, a P/E/G ratio of 1.86 and a beta of 1.05. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $306.89. The firm’s 50-day simple moving average is $262.98 and its 200 day simple moving average is $213.90. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07.
Alphabet (NASDAQ:GOOG – Get Free Report) last posted its earnings results on Thursday, October 30th. The information services provider reported $2.87 earnings per share for the quarter, beating the consensus estimate of $2.29 by $0.58. The firm had revenue of $102.35 billion during the quarter, compared to the consensus estimate of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. During the same period last year, the firm posted $2.12 EPS. The firm’s revenue for the quarter was up 15.9% on a year-over-year basis. On average, equities research analysts predict 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 will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Monday, December 8th. Alphabet’s payout ratio is currently 8.28%.
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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