Clarkston Capital Partners LLC Has $29.24 Million Stock Holdings in Alphabet Inc. $GOOGL

Clarkston Capital Partners LLC trimmed its position in Alphabet Inc. (NASDAQ:GOOGL) by 2.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 165,916 shares of the information services provider’s stock after selling 3,740 shares during the quarter. Clarkston Capital Partners LLC’s holdings in Alphabet were worth $29,239,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Financial Gravity Companies Inc. acquired a new stake in shares of Alphabet in the second quarter valued at approximately $31,000. NBZ Investment Advisors LLC increased its holdings in shares of Alphabet by 85.7% during the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock worth $30,000 after acquiring an additional 90 shares during the last quarter. CarsonAllaria Wealth Management Ltd. raised its stake in Alphabet by 36.4% in the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 251 shares of the information services provider’s stock valued at $44,000 after acquiring an additional 67 shares during the period. Vermillion & White Wealth Management Group LLC lifted its holdings in Alphabet by 37.9% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 324 shares of the information services provider’s stock valued at $57,000 after purchasing an additional 89 shares during the last quarter. Finally, S&T Bank PA lifted its holdings in Alphabet by 40.2% during the 2nd quarter. S&T Bank PA now owns 345 shares of the information services provider’s stock valued at $61,000 after purchasing an additional 99 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Insider Activity

In other news, Director Frances Arnold sold 102 shares of the business’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $317.66, for a total value of $32,401.32. Following the completion of the transaction, the director directly owned 18,104 shares in the company, valued at approximately $5,750,916.64. The trade was a 0.56% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $319.50, for a total transaction of $10,383,750.00. Following the sale, the chief executive officer owned 2,272,119 shares in the company, valued at $725,942,020.50. This represents a 1.41% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 226,128 shares of company stock worth $61,326,372. 11.55% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of several research analyst reports. Royal Bank Of Canada reissued a “buy” rating and issued a $315.00 price objective on shares of Alphabet in a research report on Tuesday, December 2nd. Daiwa Capital Markets upped their price target on shares of Alphabet from $233.00 to $333.00 and gave the company a “buy” rating in a research note on Thursday, November 6th. Rosenblatt Securities raised their price objective on shares of Alphabet from $224.00 to $279.00 and gave the stock a “neutral” rating in a research report on Thursday, October 30th. UBS Group restated a “neutral” rating and set a $306.00 price objective (up previously from $255.00) on shares of Alphabet in a report on Thursday, October 30th. Finally, Wedbush reiterated an “outperform” rating and set a $320.00 target price (up previously from $245.00) on shares of Alphabet in a research note on Thursday, October 30th. Four equities research analysts have rated the stock with a Strong Buy rating, forty-one have issued a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and a consensus target price of $312.65.

Alphabet Stock Up 1.1%

NASDAQ GOOGL opened at $321.27 on Monday. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.06. The company has a market cap of $3.88 trillion, a price-to-earnings ratio of 31.68, a PEG ratio of 1.86 and a beta of 1.07. The company has a 50 day moving average of $276.15 and a 200-day moving average of $224.91. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $328.83.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. The business had revenue of $102.35 billion for the quarter, compared to the consensus estimate of $99.90 billion. Alphabet had a return on equity of 35.00% and a net margin of 32.23%. On average, equities research analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, December 8th. This represents a $0.84 annualized dividend and a yield of 0.3%. Alphabet’s dividend payout ratio is currently 8.28%.

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.