Alphabet Inc. $GOOGL Position Lowered by Tandem Capital Management Corp ADV

Tandem Capital Management Corp ADV cut its position in Alphabet Inc. (NASDAQ:GOOGL) by 16.3% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 33,187 shares of the information services provider’s stock after selling 6,486 shares during the period. Alphabet accounts for 3.0% of Tandem Capital Management Corp ADV’s investment portfolio, making the stock its 6th largest holding. Tandem Capital Management Corp ADV’s holdings in Alphabet were worth $5,849,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Brighton Jones LLC grew its position in shares of Alphabet by 3.9% in the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock valued at $20,886,000 after buying an additional 4,110 shares during the last quarter. Revolve Wealth Partners LLC grew its position in Alphabet by 3.5% during the 4th quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock worth $2,826,000 after purchasing an additional 506 shares during the last quarter. GAMMA Investing LLC grew its position in Alphabet by 10.5% during the 1st quarter. GAMMA Investing LLC now owns 103,870 shares of the information services provider’s stock worth $16,062,000 after purchasing an additional 9,900 shares during the last quarter. Wells Trecaso Financial Group LLC grew its position in Alphabet by 0.9% during the 1st quarter. Wells Trecaso Financial Group LLC now owns 71,147 shares of the information services provider’s stock worth $11,002,000 after purchasing an additional 605 shares during the last quarter. Finally, Hoge Financial Services LLC grew its position in Alphabet by 11.6% during the 1st quarter. Hoge Financial Services LLC now owns 2,343 shares of the information services provider’s stock worth $362,000 after purchasing an additional 243 shares during the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GOOGL has been the subject of several recent analyst reports. Oppenheimer restated an “outperform” rating and issued a $270.00 target price (up previously from $235.00) on shares of Alphabet in a research note on Tuesday, September 2nd. Robert W. Baird raised their price objective on shares of Alphabet from $215.00 to $275.00 and gave the company an “outperform” rating in a research note on Monday, September 22nd. BNP Paribas cut shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, June 26th. Citigroup lifted their target price on shares of Alphabet from $225.00 to $280.00 and gave the stock a “buy” rating in a research report on Monday, September 15th. Finally, Royal Bank Of Canada lifted their target price on shares of Alphabet from $220.00 to $260.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 3rd. 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 stock presently has an average rating of “Moderate Buy” and a consensus price target of $252.24.

Alphabet Price Performance

Alphabet stock opened at $253.30 on Friday. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $256.96. The firm has a 50 day moving average price of $231.55 and a 200 day moving average price of $191.85. The company has a market cap of $3.06 trillion, a price-to-earnings ratio of 26.98, a PEG ratio of 1.71 and a beta of 1.00. 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 released 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. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The firm had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.60 billion. Sell-side analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

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

Insider Activity at Alphabet

In other news, insider John Kent Walker sold 17,816 shares of the business’s stock in a transaction on Monday, September 29th. The shares were sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $250.15, for a total transaction of $8,129,875.00. Following the transaction, the chief executive officer directly owned 2,369,619 shares in the company, valued at approximately $592,760,192.85. The trade was a 1.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 246,150 shares of company stock valued at $55,805,379 over the last quarter. Company insiders own 11.64% of the company’s stock.

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.