Alphabet Inc. $GOOG Position Trimmed by Federated Hermes Inc.

Federated Hermes Inc. trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 6.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 135,332 shares of the information services provider’s stock after selling 9,337 shares during the period. Federated Hermes Inc.’s holdings in Alphabet were worth $24,007,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Brighton Jones LLC grew its stake in Alphabet by 5.6% during the 4th quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider’s stock worth $22,901,000 after buying an additional 6,410 shares during the last quarter. Nicholas Hoffman & Company LLC. boosted its holdings in shares of Alphabet by 4.0% during the first quarter. Nicholas Hoffman & Company LLC. now owns 25,146 shares of the information services provider’s stock valued at $3,929,000 after acquiring an additional 976 shares during the period. AGF Management Ltd. grew its position in shares of Alphabet by 0.6% during the first quarter. AGF Management Ltd. now owns 185,612 shares of the information services provider’s stock worth $28,998,000 after acquiring an additional 1,150 shares during the last quarter. Taylor Hoffman Capital Management LLC increased its holdings in shares of Alphabet by 2.4% in the 1st quarter. Taylor Hoffman Capital Management LLC now owns 7,091 shares of the information services provider’s stock worth $1,127,000 after acquiring an additional 167 shares during the period. Finally, Trajan Wealth LLC lifted its position in Alphabet by 9.0% in the 1st quarter. Trajan Wealth LLC now owns 89,831 shares of the information services provider’s stock valued at $14,034,000 after purchasing an additional 7,431 shares during the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 954 shares of the company’s stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $317.00, for a total value of $302,418.00. Following the transaction, the chief accounting officer owned 11,740 shares of the company’s stock, valued at approximately $3,721,580. This represents a 7.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 600 shares of the firm’s stock in a transaction on Thursday, November 13th. The stock was sold at an average price of $280.06, for a total value of $168,036.00. Following the sale, the director directly owned 4,516 shares of the company’s stock, valued at approximately $1,264,750.96. This represents a 11.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 228,906 shares of company stock valued at $62,127,158 over the last quarter. Company insiders own 12.99% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on GOOG. Loop Capital upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 18th. Bank of America increased their price objective on Alphabet from $280.00 to $335.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Scotiabank set a $336.00 target price on Alphabet and gave the company a “sector outperform” rating in a research report on Thursday, October 30th. Truist Financial set a $350.00 price target on Alphabet in a research report on Friday. Finally, Robert W. Baird increased their price target on Alphabet from $215.00 to $275.00 and gave the stock an “outperform” rating in a research note on Monday, September 22nd. Seven research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $310.54.

Alphabet Stock Up 1.0%

Shares of GOOG stock opened at $317.75 on Wednesday. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $328.67. The stock has a market cap of $3.83 trillion, a PE ratio of 31.34, a price-to-earnings-growth ratio of 1.82 and a beta of 1.07. The business’s fifty day moving average is $279.62 and its 200-day moving average is $227.71. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.75 and a current ratio of 1.75.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Thursday, October 30th. The information services provider reported $2.87 earnings per share for the quarter, beating the consensus estimate of $2.29 by $0.58. The business had revenue of $102.35 billion during the quarter, compared to analyst estimates of $99.90 billion. Alphabet had a return on equity of 35.00% and a net margin of 32.23%.The company’s revenue was up 15.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.12 earnings per share. Equities analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 8th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Monday, December 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. Alphabet’s 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.