Columbia Advisory Partners LLC lowered its holdings in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 5.5% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,375 shares of the information services provider’s stock after selling 80 shares during the period. Columbia Advisory Partners LLC’s holdings in Alphabet were worth $242,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of the business. Armstrong Fleming & Moore Inc raised its holdings in shares of Alphabet by 438.6% in the 2nd quarter. Armstrong Fleming & Moore Inc now owns 7,174 shares of the information services provider’s stock valued at $1,264,000 after acquiring an additional 5,842 shares in the last quarter. Tectonic Advisors LLC increased its position in shares of Alphabet by 17.5% during the 2nd quarter. Tectonic Advisors LLC now owns 9,770 shares of the information services provider’s stock valued at $1,722,000 after purchasing an additional 1,453 shares during the last quarter. Columbus Macro LLC increased its position in shares of Alphabet by 10.1% during the 2nd quarter. Columbus Macro LLC now owns 3,117 shares of the information services provider’s stock valued at $549,000 after purchasing an additional 286 shares during the last quarter. Hager Investment Management Services LLC increased its position in shares of Alphabet by 1.1% during the 2nd quarter. Hager Investment Management Services LLC now owns 28,014 shares of the information services provider’s stock valued at $4,937,000 after purchasing an additional 297 shares during the last quarter. Finally, Cohen Investment Advisors LLC increased its position in shares of Alphabet by 3.9% during the 2nd quarter. Cohen Investment Advisors LLC now owns 30,858 shares of the information services provider’s stock valued at $5,438,000 after purchasing an additional 1,146 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.
Alphabet Stock Up 0.7%
Alphabet stock opened at $253.30 on Friday. The firm 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 stock has a fifty day simple moving average of $231.55 and a two-hundred day simple moving average of $191.85. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $256.96. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07.
Alphabet Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Monday, September 8th. Alphabet’s payout ratio is currently 8.95%.
Analyst Upgrades and Downgrades
GOOGL has been the topic of several recent research reports. Tigress Financial raised their price target on Alphabet from $240.00 to $280.00 and gave the stock a “strong-buy” rating in a research report on Friday, September 5th. Wells Fargo & Company set a $236.00 price objective on Alphabet and gave the stock an “equal weight” rating in a research report on Tuesday, October 7th. BMO Capital Markets set a $294.00 price objective on Alphabet and gave the stock an “outperform” rating in a research report on Thursday, October 9th. UBS Group lifted their price objective on Alphabet from $237.00 to $255.00 and gave the stock a “neutral” rating in a research report on Thursday, October 9th. Finally, Robert W. Baird lifted their price objective on Alphabet from $215.00 to $275.00 and gave the stock an “outperform” rating in a research report on Monday, September 22nd. Four research analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $252.24.
Read Our Latest Report on GOOGL
Insider Buying and Selling at Alphabet
In other news, CAO Amie Thuener O’toole sold 2,778 shares of the business’s stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $250.05, for a total value of $694,638.90. Following the transaction, the chief accounting officer directly owned 14,516 shares in the company, valued at $3,629,725.80. The trade was a 16.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John L. Hennessy sold 600 shares of the business’s stock in a transaction dated Monday, October 13th. The stock was sold at an average price of $242.92, for a total value of $145,752.00. Following the completion of the sale, the director owned 5,116 shares in the company, valued at $1,242,778.72. This represents a 10.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 246,150 shares of company stock valued at $55,805,379 in the last ninety days. 11.64% of the stock is currently owned by company insiders.
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.
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