Alphabet Inc. $GOOG Shares Sold by Westfield Capital Management Co. LP

by · The Markets Daily

Westfield Capital Management Co. LP cut its position in shares of Alphabet Inc. (NASDAQ:GOOG – Free Report) by 8.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 56,758 shares of the information services provider’s stock after selling 5,527 shares during the period. Westfield Capital Management Co. LP’s holdings in Alphabet were worth $10,068,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. REDW Wealth LLC lifted its stake in shares of Alphabet by 2.3% in the 2nd quarter. REDW Wealth LLC now owns 2,410 shares of the information services provider’s stock valued at $428,000 after purchasing an additional 54 shares during the last quarter. GDS Wealth Management increased its position in shares of Alphabet by 2.4% during the second quarter. GDS Wealth Management now owns 2,325 shares of the information services provider’s stock valued at $412,000 after acquiring an additional 54 shares during the last quarter. ACT Advisors LLC. increased its position in shares of Alphabet by 3.5% during the second quarter. ACT Advisors LLC. now owns 1,625 shares of the information services provider’s stock valued at $288,000 after acquiring an additional 55 shares during the last quarter. Moser Wealth Advisors LLC raised its stake 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 acquiring 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 worth $909,000 after acquiring an additional 56 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Price Performance

GOOG stock opened at $289.98 on Friday. The business’s 50-day moving average is $261.82 and its two-hundred day moving average is $212.97. 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 firm has a market capitalization of $3.50 trillion, a P/E ratio of 28.60, a P/E/G ratio of 1.86 and a beta of 1.05. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $306.89.

Alphabet (NASDAQ:GOOG – Get Free Report) last issued 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. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The firm had revenue of $102.35 billion for the quarter, compared to analysts’ expectations of $99.90 billion. During the same quarter last year, the company earned $2.12 earnings per share. The firm’s revenue was up 15.9% compared to the same quarter last year. Analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders 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 of this dividend is Monday, December 8th. Alphabet’s payout ratio is 8.28%.

Insider Buying and Selling

In other news, CAO Amie Thuener O’toole sold 2,778 shares of the stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $250.05, for a total value of $694,638.90. Following the transaction, the chief accounting officer owned 14,516 shares in the company, valued at approximately $3,629,725.80. This represents a 16.06% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider John Kent Walker sold 17,816 shares of the firm’s stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $247.42, for a total value of $4,408,034.72. Following the sale, the insider directly owned 42,985 shares in the company, valued at $10,635,348.70. This trade represents a 29.30% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 195,452 shares of company stock worth $49,255,209. Corporate insiders own 12.99% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on GOOG shares. Sanford C. Bernstein lifted their target price on shares of Alphabet from $260.00 to $305.00 and gave the company an “outperform” rating in a report on Thursday, October 30th. Bank of America lifted their price objective on Alphabet from $280.00 to $335.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Weiss Ratings reiterated a “buy (b)” rating on shares of Alphabet in a report on Wednesday, October 8th. TD Cowen increased their target price on Alphabet from $270.00 to $280.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Finally, Pivotal Research lifted their target price on Alphabet from $300.00 to $350.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. Seven analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $324.81.

View Our Latest Stock Analysis on Alphabet

About Alphabet

(Free Report)

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.

Featured Stories

Want to see what other hedge funds are holding GOOG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOG – Free Report).