Corient Private Wealth LLC Has $873.17 Million Position in Alphabet Inc. $GOOG

Corient Private Wealth LLC cut its holdings in Alphabet Inc. (NASDAQ:GOOG) by 4.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,922,311 shares of the information services provider’s stock after selling 205,351 shares during the period. Alphabet accounts for approximately 1.2% of Corient Private Wealth LLC’s portfolio, making the stock its 14th biggest holding. Corient Private Wealth LLC’s holdings in Alphabet were worth $873,169,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in GOOG. Vanguard Group Inc. lifted its holdings in shares of Alphabet by 1.3% during the second quarter. Vanguard Group Inc. now owns 416,753,033 shares of the information services provider’s stock worth $73,927,821,000 after buying an additional 5,182,111 shares during the last quarter. State Street Corp increased its position in Alphabet by 1.3% during the second quarter. State Street Corp now owns 188,914,125 shares of the information services provider’s stock worth $33,511,477,000 after acquiring an additional 2,428,266 shares during the period. Kingstone Capital Partners Texas LLC raised its stake in Alphabet by 580,897.4% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider’s stock valued at $23,963,208,000 after purchasing an additional 135,064,454 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Alphabet by 0.4% in the 2nd quarter. Geode Capital Management LLC now owns 107,760,033 shares of the information services provider’s stock valued at $19,022,926,000 after purchasing an additional 441,177 shares during the period. Finally, Sanders Capital LLC grew its position in Alphabet by 6.4% in the 2nd quarter. Sanders Capital LLC now owns 35,357,943 shares of the information services provider’s stock worth $6,272,146,000 after purchasing an additional 2,117,990 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Wall Street Analyst Weigh In

GOOG has been the subject of a number of research analyst reports. UBS Group reaffirmed a “neutral” rating on shares of Alphabet in a research report on Thursday, October 30th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $330.00 price target on shares of Alphabet in a report on Thursday, October 30th. Mizuho set a $325.00 price objective on Alphabet in a research report on Thursday, October 30th. Pivotal Research restated a “buy” rating and set a $400.00 price objective (up from $350.00) on shares of Alphabet in a research report on Friday, December 5th. Finally, Morgan Stanley upped their target price on Alphabet from $210.00 to $270.00 and gave the company an “overweight” rating in a research note on Thursday, October 2nd. Seven equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Alphabet currently has a consensus rating of “Buy” and an average price target of $313.04.

Insider Activity

In other Alphabet news, CAO Amie Thuener O’toole sold 954 shares of the company’s stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $317.00, for a total transaction of $302,418.00. Following the sale, the chief accounting officer directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Frances Arnold sold 102 shares of Alphabet stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $317.66, for a total transaction of $32,401.32. Following the completion of the transaction, the director owned 18,104 shares of the company’s stock, valued at $5,750,916.64. This trade represents a 0.56% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 225,528 shares of company stock worth $61,296,884 in the last quarter. 12.99% of the stock is owned by company insiders.

Alphabet Trading Down 0.4%

GOOG stock opened at $309.32 on Tuesday. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $328.67. 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 business’s 50 day moving average is $284.91 and its 200-day moving average is $231.69. The firm has a market cap of $3.73 trillion, a P/E ratio of 30.50, a P/E/G ratio of 1.80 and a beta of 1.07.

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

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 8th were issued a $0.21 dividend. The ex-dividend date of this dividend was Monday, December 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. Alphabet’s dividend payout ratio is presently 8.28%.

About Alphabet

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.