DMC Group LLC Reduces Position in Alphabet Inc. $GOOGL

DMC Group LLC lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 5.2% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,754 shares of the information services provider’s stock after selling 645 shares during the quarter. Alphabet accounts for 1.6% of DMC Group LLC’s portfolio, making the stock its 12th largest position. DMC Group LLC’s holdings in Alphabet were worth $2,071,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Mystic Asset Management Inc. increased its position in shares of Alphabet by 6.7% in the 1st quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider’s stock worth $4,400,000 after purchasing an additional 1,791 shares during the last quarter. Harbour Trust & Investment Management Co lifted its position in shares of Alphabet by 0.3% during the first quarter. Harbour Trust & Investment Management Co now owns 27,075 shares of the information services provider’s stock worth $4,187,000 after purchasing an additional 80 shares during the last quarter. Cypress Capital LLC grew its stake in Alphabet by 4.1% in the first quarter. Cypress Capital LLC now owns 14,310 shares of the information services provider’s stock worth $2,213,000 after purchasing an additional 563 shares in the last quarter. Bridgeway Capital Management LLC increased its holdings in Alphabet by 17.9% in the first quarter. Bridgeway Capital Management LLC now owns 88,187 shares of the information services provider’s stock valued at $13,637,000 after buying an additional 13,371 shares during the last quarter. Finally, Alaethes Wealth LLC increased its holdings in Alphabet by 1.1% in the first quarter. Alaethes Wealth LLC now owns 7,646 shares of the information services provider’s stock valued at $1,182,000 after buying an additional 84 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Transactions at Alphabet

In related news, Director John L. Hennessy sold 600 shares of the firm’s stock in a transaction that occurred on Monday, October 13th. The stock was sold at an average price of $242.92, for a total value of $145,752.00. Following the sale, the director directly owned 5,116 shares in the company, valued at $1,242,778.72. This trade represents a 10.50% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John Kent Walker sold 17,816 shares of the stock in a transaction 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 transaction, the insider directly owned 42,985 shares of the company’s stock, valued at approximately $10,635,348.70. The trade was a 29.30% decrease in their position. The disclosure for this sale can be found here. Insiders sold 210,872 shares of company stock worth $46,980,865 over the last quarter. Insiders own 11.64% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on GOOGL shares. Roth Capital increased their target price on Alphabet from $210.00 to $265.00 and gave the stock a “buy” rating in a report on Thursday. Jefferies Financial Group upped their price target on Alphabet from $230.00 to $285.00 and gave the company a “buy” rating in a research report on Thursday, October 2nd. Needham & Company LLC upped their price target on Alphabet from $220.00 to $260.00 and gave the company a “buy” rating in a research report on Wednesday, September 3rd. Mizuho set a $295.00 target price on shares of Alphabet and gave the company an “outperform” rating in a research note on Monday, September 29th. Finally, Loop Capital reiterated a “hold” rating and set a $190.00 target price (up previously from $165.00) on shares of Alphabet in a research note on Tuesday, August 5th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus target price of $250.57.

Alphabet Stock Up 0.2%

Alphabet stock opened at $251.46 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The company has a 50-day simple moving average of $230.51 and a 200-day simple moving average of $190.95. The firm has a market capitalization of $3.04 trillion, a P/E ratio of 26.78, a P/E/G ratio of 1.69 and a beta of 1.00. Alphabet Inc. has a one year low of $140.53 and a one year high of $256.96.

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

Alphabet Dividend Announcement

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

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.