Wormser Freres Gestion Sells 265 Shares of Alphabet Inc. $GOOGL

Wormser Freres Gestion cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,422 shares of the information services provider’s stock after selling 265 shares during the period. Alphabet comprises approximately 3.9% of Wormser Freres Gestion’s holdings, making the stock its 15th largest holding. Wormser Freres Gestion’s holdings in Alphabet were worth $6,593,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Capital Advisors Inc. OK boosted its position in Alphabet by 8.3% in the 2nd quarter. Capital Advisors Inc. OK now owns 30,054 shares of the information services provider’s stock valued at $5,296,000 after buying an additional 2,315 shares during the last quarter. Comprehensive Financial Consultants Institutional Inc. raised its stake in Alphabet by 3.0% during the 2nd quarter. Comprehensive Financial Consultants Institutional Inc. now owns 14,899 shares of the information services provider’s stock worth $2,626,000 after buying an additional 427 shares during the period. Iowa State Bank raised its stake in Alphabet by 0.8% during the 2nd quarter. Iowa State Bank now owns 47,331 shares of the information services provider’s stock worth $8,341,000 after buying an additional 360 shares during the period. Relyea Zuckerberg Hanson LLC raised its stake in Alphabet by 3.5% during the 2nd quarter. Relyea Zuckerberg Hanson LLC now owns 28,868 shares of the information services provider’s stock worth $5,087,000 after buying an additional 976 shares during the period. Finally, HRC Wealth Management LLC acquired a new stake in shares of Alphabet in the 2nd quarter valued at about $211,000. 40.03% of the stock is currently owned by institutional investors.

Alphabet Trading Up 0.5%

Shares of NASDAQ:GOOGL opened at $245.45 on Wednesday. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $256.00. The stock has a market cap of $2.97 trillion, a PE ratio of 26.14, a P/E/G ratio of 1.65 and a beta of 1.00. The business has a 50 day moving average of $228.31 and a 200-day moving average of $189.86. 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:GOOGL) last issued its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.16. The business had revenue of $96.43 billion during the quarter, compared to analysts’ expectations of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. As a group, equities research analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Monday, September 8th. Alphabet’s payout ratio is 8.95%.

Insiders Place Their Bets

In related news, insider John Kent Walker sold 17,816 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the insider directly owned 42,985 shares in the company, valued at approximately $10,635,348.70. The trade was a 29.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $243.41, for a total value of $7,910,825.00. Following the completion of the sale, the chief executive officer owned 2,402,119 shares of the company’s stock, valued at approximately $584,699,785.79. This trade represents a 1.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 243,838 shares of company stock valued at $53,070,333 in the last quarter. Company insiders own 11.55% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of several recent research reports. DA Davidson lifted their price target on Alphabet from $180.00 to $190.00 and gave the company a “neutral” rating in a research note on Tuesday, September 2nd. Barclays increased their price target on shares of Alphabet from $235.00 to $250.00 and gave the company an “overweight” rating in a research note on Wednesday, September 3rd. Mizuho set a $295.00 price target on shares of Alphabet and gave the company an “outperform” rating in a research note on Monday, September 29th. Moffett Nathanson increased their price target on shares of Alphabet from $230.00 to $295.00 and gave the company a “buy” rating in a research note on Thursday, September 25th. Finally, Melius Research boosted their price target on Alphabet from $220.00 to $255.00 in a research report on Thursday, September 25th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and an average price target of $249.26.

Alphabet 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.