Westhampton Capital LLC Sells 400 Shares of Alphabet Inc. $GOOGL

Westhampton Capital LLC reduced its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,572 shares of the information services provider’s stock after selling 400 shares during the quarter. Alphabet comprises 1.3% of Westhampton Capital LLC’s investment portfolio, making the stock its 21st biggest position. Westhampton Capital LLC’s holdings in Alphabet were worth $2,568,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Nuveen LLC bought a new position in shares of Alphabet in the first quarter worth $4,317,606,000. Vanguard Group Inc. boosted its stake in Alphabet by 2.9% during the first quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider’s stock valued at $78,839,544,000 after buying an additional 14,307,345 shares during the period. Assenagon Asset Management S.A. grew its position in Alphabet by 307.6% during the first quarter. Assenagon Asset Management S.A. now owns 10,302,644 shares of the information services provider’s stock worth $1,593,201,000 after buying an additional 7,774,811 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Alphabet by 11.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 43,865,520 shares of the information services provider’s stock worth $6,783,364,000 after acquiring an additional 4,473,901 shares during the last quarter. Finally, Amundi raised its holdings in shares of Alphabet by 11.8% in the 1st quarter. Amundi now owns 33,403,871 shares of the information services provider’s stock valued at $5,034,992,000 after acquiring an additional 3,537,173 shares in the last quarter. 40.03% of the stock is owned by institutional investors.

Alphabet Stock Performance

Alphabet stock opened at $250.43 on Tuesday. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $256.00. The stock has a market cap of $3.03 trillion, a price-to-earnings ratio of 26.67, a PEG ratio of 1.66 and a beta of 1.00. The stock’s 50 day simple moving average is $222.41 and its two-hundred day simple moving average is $186.72. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates of $2.15 by $0.16. The business had revenue of $96.43 billion for the quarter, compared to analysts’ expectations of $93.60 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. As a group, analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were issued 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 was Monday, September 8th. Alphabet’s payout ratio is presently 8.95%.

Insider Buying and Selling

In other news, CAO Amie Thuener O’toole sold 953 shares of the stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $241.20, for a total transaction of $229,863.60. Following the transaction, the chief accounting officer directly owned 17,294 shares of the company’s stock, valued at $4,171,312.80. This represents a 5.22% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director John L. Hennessy sold 600 shares of the business’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $249.44, for a total value of $149,664.00. Following the sale, the director owned 5,716 shares of the company’s stock, valued at approximately $1,425,799.04. This represents a 9.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 276,738 shares of company stock valued at $59,135,475 in the last ninety days. Corporate insiders own 11.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on GOOGL shares. JMP Securities boosted their price objective on Alphabet from $250.00 to $290.00 and gave the stock a “market outperform” rating in a report on Friday, September 19th. Wolfe Research lifted their target price on shares of Alphabet from $220.00 to $290.00 in a research report on Tuesday, September 30th. Truist Financial increased their price target on shares of Alphabet from $225.00 to $285.00 and gave the stock a “buy” rating in a report on Monday, September 22nd. DA Davidson lifted their price objective on shares of Alphabet from $180.00 to $190.00 and gave the stock a “neutral” rating in a report on Tuesday, September 2nd. Finally, Wells Fargo & Company increased their target price on Alphabet from $184.00 to $187.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 29th. Four analysts have rated the stock with a Strong Buy rating, thirty-three have given a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $240.76.

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.