Alphabet Inc. (NASDAQ:GOOGL) Holdings Cut by Bey Douglas LLC

Bey Douglas LLC reduced its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 6.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,639 shares of the information services provider’s stock after selling 3,842 shares during the period. Alphabet makes up 8.9% of Bey Douglas LLC’s portfolio, making the stock its 3rd biggest holding. Bey Douglas LLC’s holdings in Alphabet were worth $9,782,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Tributary Capital Management LLC purchased a new stake in Alphabet in the first quarter valued at approximately $30,000. Vermillion & White Wealth Management Group LLC purchased a new stake in shares of Alphabet during the 4th quarter valued at $30,000. DiNuzzo Private Wealth Inc. purchased a new stake in shares of Alphabet during the 4th quarter valued at $38,000. CarsonAllaria Wealth Management Ltd. lifted its holdings in shares of Alphabet by 59.2% during the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock worth $44,000 after acquiring an additional 109 shares during the last quarter. Finally, Richardson Capital Management LLC grew its position in Alphabet by 87.5% in the first quarter. Richardson Capital Management LLC now owns 300 shares of the information services provider’s stock worth $45,000 after acquiring an additional 140 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Guggenheim lifted their price target on Alphabet from $195.00 to $205.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Citigroup upped their target price on Alphabet from $190.00 to $212.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Morgan Stanley lifted their price target on shares of Alphabet from $195.00 to $210.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 23rd. Loop Capital reaffirmed a “hold” rating and issued a $170.00 price objective on shares of Alphabet in a research note on Wednesday, July 3rd. Finally, Bank of America lifted their target price on shares of Alphabet from $200.00 to $206.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Six equities research 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 company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $203.74.

Alphabet Trading Up 1.1 %

GOOGL opened at $165.62 on Monday. 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 52 week low of $120.21 and a 52 week high of $191.75. The stock has a market cap of $2.05 trillion, a PE ratio of 25.40, a PEG ratio of 1.28 and a beta of 1.05. The business has a 50 day moving average of $174.73 and a 200-day moving average of $163.30.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.85 by $0.04. The business had revenue of $84.74 billion during the quarter, compared to analyst estimates of $70.60 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. During the same quarter last year, the firm posted $1.44 earnings per share. Equities research analysts predict that Alphabet Inc. will post 7.62 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 9th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend is Monday, September 9th. Alphabet’s payout ratio is currently 12.27%.

Insiders Place Their Bets

In other news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $173.86, for a total transaction of $118,572.52. Following the completion of the transaction, the chief accounting officer now directly owns 29,966 shares in the company, valued at $5,209,888.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Prabhakar Raghavan sold 3,262 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $183.99, for a total transaction of $600,175.38. Following the sale, the senior vice president now directly owns 9 shares of the company’s stock, valued at approximately $1,655.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $173.86, for a total transaction of $118,572.52. Following the completion of the transaction, the chief accounting officer now directly owns 29,966 shares of the company’s stock, valued at $5,209,888.76. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 156,565 shares of company stock worth $26,823,893. 11.55% of the stock is currently owned by company insiders.

Alphabet Company Profile

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.