Arnhold LLC Decreases Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Arnhold LLC lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 237,981 shares of the information services provider’s stock after selling 754 shares during the period. Alphabet accounts for about 4.6% of Arnhold LLC’s investment portfolio, making the stock its 3rd biggest holding. Arnhold LLC’s holdings in Alphabet were worth $43,348,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of GOOGL. Hemington Wealth Management boosted its holdings in Alphabet by 4.5% in the 2nd quarter. Hemington Wealth Management now owns 6,033 shares of the information services provider’s stock worth $1,098,000 after buying an additional 260 shares during the period. Retirement Income Solutions Inc boosted its stake in shares of Alphabet by 3.2% in the second quarter. Retirement Income Solutions Inc now owns 8,176 shares of the information services provider’s stock worth $1,489,000 after acquiring an additional 252 shares during the period. Affiance Financial LLC grew its position in shares of Alphabet by 0.9% during the second quarter. Affiance Financial LLC now owns 9,438 shares of the information services provider’s stock worth $1,719,000 after purchasing an additional 88 shares in the last quarter. Willis Johnson & Associates Inc. raised its stake in Alphabet by 16.5% during the 2nd quarter. Willis Johnson & Associates Inc. now owns 4,977 shares of the information services provider’s stock valued at $906,000 after purchasing an additional 706 shares during the period. Finally, Gilbert & Cook Inc. purchased a new position in Alphabet in the 2nd quarter worth approximately $210,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Price Performance

NASDAQ GOOGL opened at $157.46 on Monday. The company has a market cap of $1.94 trillion, a PE ratio of 24.15, a P/E/G ratio of 1.13 and a beta of 1.04. The firm’s 50 day moving average price is $167.46 and its 200-day moving average price is $164.87. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. Alphabet Inc. has a 52-week low of $120.21 and a 52-week high of $191.75.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. The business had revenue of $84.74 billion for the quarter, compared to the consensus estimate of $70.60 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. During the same period last year, the business posted $1.44 EPS. Sell-side analysts forecast that Alphabet Inc. will post 7.64 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, September 9th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.51%. The ex-dividend date is Monday, September 9th. Alphabet’s payout ratio is 12.27%.

Analysts Set New Price Targets

GOOGL has been the subject of a number of research analyst reports. Bank of America increased their price objective on shares of Alphabet from $200.00 to $206.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Needham & Company LLC reiterated a “buy” rating and issued a $210.00 price target on shares of Alphabet in a report on Friday, August 30th. Wolfe Research initiated coverage on shares of Alphabet in a report on Tuesday, July 16th. They set an “outperform” rating and a $240.00 price objective for the company. Jefferies Financial Group lifted their target price on Alphabet from $215.00 to $220.00 in a report on Tuesday, July 9th. Finally, Piper Sandler dropped their price target on Alphabet from $206.00 to $200.00 and set an “overweight” rating for the company in a research note on Tuesday, September 10th. Eight research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $201.76.

Insider Activity

In related news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $177.40, for a total transaction of $3,991,500.00. Following the completion of the transaction, the chief executive officer now owns 2,213,011 shares in the company, valued at approximately $392,588,151.40. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $177.40, for a total value of $3,991,500.00. Following the transaction, the chief executive officer now directly owns 2,213,011 shares of the company’s stock, valued at $392,588,151.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Prabhakar Raghavan sold 34,257 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $162.60, for a total value of $5,570,188.20. Following the sale, the senior vice president now owns 312,210 shares of the company’s stock, valued at approximately $50,765,346. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 179,367 shares of company stock worth $30,016,931. Corporate insiders own 11.55% of the company’s stock.

Alphabet Company 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.