Austin Asset Management Co Inc Sells 887 Shares of Alphabet Inc. $GOOGL

Austin Asset Management Co Inc lowered its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 20.9% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 3,363 shares of the information services provider’s stock after selling 887 shares during the period. Austin Asset Management Co Inc’s holdings in Alphabet were worth $593,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Nuveen LLC bought a new stake in shares of Alphabet in the first quarter valued at approximately $4,317,606,000. Vanguard Group Inc. boosted its stake in shares of Alphabet by 2.9% in 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. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Alphabet by 11.4% in the first 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 valued at $6,783,364,000 after buying an additional 4,473,901 shares during the period. Amundi boosted its stake in shares of Alphabet by 11.8% in the first quarter. Amundi now owns 33,403,871 shares of the information services provider’s stock valued at $5,034,992,000 after buying an additional 3,537,173 shares during the period. Finally, Evergreen Quality Fund GP Ltd. raised its position in Alphabet by 178.3% during the first quarter. Evergreen Quality Fund GP Ltd. now owns 4,003,900 shares of the information services provider’s stock valued at $619,163,000 after purchasing an additional 2,565,400 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Alphabet Stock Up 0.7%

Shares of NASDAQ:GOOGL opened at $253.30 on Friday. The company has a market capitalization of $3.06 trillion, a PE ratio of 26.98, a price-to-earnings-growth ratio of 1.70 and a beta of 1.00. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $256.96. The company has a fifty day moving average of $231.55 and a 200-day moving average of $191.61. 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 posted its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $2.15 by $0.16. The business had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. On average, equities analysts predict that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

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

Insiders Place Their Bets

In related news, Director Frances Arnold sold 103 shares of the stock in a transaction on Tuesday, September 30th. The stock was sold at an average price of $243.13, for a total value of $25,042.39. Following the completion of the sale, the director directly owned 17,284 shares in the company, valued at $4,202,258.92. This represents a 0.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 2,778 shares of the stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $250.05, for a total value of $694,638.90. Following the completion of the sale, the chief accounting officer owned 14,516 shares of the company’s stock, valued at $3,629,725.80. The trade was a 16.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 246,150 shares of company stock valued at $55,805,379 over the last ninety days. 11.64% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Alphabet in a research report on Wednesday, September 3rd. Wells Fargo & Company set a $236.00 price objective on shares of Alphabet and gave the company an “equal weight” rating in a research report on Tuesday, October 7th. Morgan Stanley set a $270.00 price objective on shares of Alphabet and gave the company an “overweight” rating in a research report on Thursday, October 2nd. BNP Paribas downgraded shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, June 26th. Finally, BNP Paribas Exane restated a “neutral” rating and set a $172.00 price objective on shares of Alphabet in a research report on Friday, June 27th. 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. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $252.24.

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.