Alphabet Inc. (NASDAQ:GOOG) Stake Reduced by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC reduced its stake in Alphabet Inc. (NASDAQ:GOOG) by 12.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,387,582 shares of the information services provider’s stock after selling 603,315 shares during the period. Alphabet comprises 2.3% of Los Angeles Capital Management LLC’s investment portfolio, making the stock its 7th largest position. Los Angeles Capital Management LLC’s holdings in Alphabet were worth $668,053,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the stock. JPMorgan Chase & Co. grew its position in shares of Alphabet by 11.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 95,941,129 shares of the information services provider’s stock worth $12,649,838,000 after buying an additional 9,703,425 shares during the last quarter. Capital International Investors grew its position in shares of Alphabet by 1.1% in the 4th quarter. Capital International Investors now owns 80,246,520 shares of the information services provider’s stock worth $11,309,370,000 after buying an additional 862,550 shares during the last quarter. Northern Trust Corp grew its position in shares of Alphabet by 2.3% in the 3rd quarter. Northern Trust Corp now owns 57,269,184 shares of the information services provider’s stock worth $7,550,942,000 after buying an additional 1,275,060 shares during the last quarter. Norges Bank bought a new stake in shares of Alphabet in the 4th quarter worth approximately $4,101,040,000. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Alphabet by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 28,800,413 shares of the information services provider’s stock valued at $4,058,842,000 after purchasing an additional 481,376 shares in the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Oppenheimer lifted their price target on Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research report on Monday, April 8th. Stifel Nicolaus lifted their price target on Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Finally, Morgan Stanley restated an “overweight” rating and set a $165.00 price target on shares of Alphabet in a research report on Thursday, April 11th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, Alphabet currently has an average rating of “Buy” and a consensus price target of $165.67.

Alphabet Stock Down 1.3 %

Shares of NASDAQ:GOOG opened at $176.45 on Thursday. The stock has a fifty day simple moving average of $170.85 and a two-hundred day simple moving average of $153.29. The stock has a market capitalization of $2.18 trillion, a price-to-earnings ratio of 27.06, a PEG ratio of 1.31 and a beta of 1.01. Alphabet Inc. has a 12-month low of $115.83 and a 12-month high of $182.08. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.51 by $0.38. The business had revenue of $80.54 billion during the quarter, compared to analysts’ expectations of $78.75 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The firm’s quarterly revenue was up 15.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.17 earnings per share. On average, research analysts anticipate that Alphabet Inc. will post 7.69 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently disclosed a — dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 10th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, June 10th. Alphabet’s payout ratio is 12.27%.

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $154.79, for a total value of $105,566.78. Following the completion of the transaction, the chief accounting officer now owns 29,284 shares in the company, valued at $4,532,870.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $154.79, for a total value of $105,566.78. Following the completion of the transaction, the chief accounting officer now owns 29,284 shares in the company, valued at $4,532,870.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 1,500 shares of the company’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $177.92, for a total value of $266,880.00. Following the sale, the director now owns 3,727 shares of the company’s stock, valued at approximately $663,107.84. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 135,958 shares of company stock worth $22,383,553. 12.99% of the stock is owned by 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.