Tortoise Investment Management LLC Has $1.04 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Tortoise Investment Management LLC lowered its position in Alphabet Inc. (NASDAQ:GOOGL) by 4.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,694 shares of the information services provider’s stock after selling 246 shares during the quarter. Tortoise Investment Management LLC’s holdings in Alphabet were worth $1,037,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in GOOGL. Nebula Research & Development LLC acquired a new stake in shares of Alphabet in the fourth quarter valued at about $787,000. New Hampshire Trust increased its position in Alphabet by 2.7% during the 2nd quarter. New Hampshire Trust now owns 43,714 shares of the information services provider’s stock valued at $7,963,000 after purchasing an additional 1,132 shares during the period. Matisse Capital increased its position in Alphabet by 13.7% during the 4th quarter. Matisse Capital now owns 16,781 shares of the information services provider’s stock valued at $2,344,000 after purchasing an additional 2,026 shares during the period. Berkshire Money Management Inc. bought a new position in Alphabet during the 1st quarter worth approximately $359,000. Finally, Schneider Downs Wealth Management Advisors LP lifted its position in shares of Alphabet by 58.4% in the 1st quarter. Schneider Downs Wealth Management Advisors LP now owns 6,374 shares of the information services provider’s stock worth $962,000 after purchasing an additional 2,351 shares during the period. Institutional investors own 40.03% of the company’s stock.

Alphabet Price Performance

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

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The business had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $70.60 billion. During the same quarter in the previous year, the firm earned $1.44 earnings per share. On average, equities analysts predict that Alphabet Inc. will post 7.64 earnings per share for the current year.

Alphabet Dividend Announcement

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

Insider Buying and Selling at Alphabet

In related news, Director John L. Hennessy sold 1,500 shares of Alphabet stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $185.85, for a total value of $278,775.00. Following the completion of the transaction, the director now directly owns 30,824 shares in the company, valued at approximately $5,728,640.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP Prabhakar Raghavan sold 3,262 shares of Alphabet stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $183.99, for a total value of $600,175.38. Following the transaction, the senior vice president now owns 9 shares in the company, valued at $1,655.91. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director John L. Hennessy sold 1,500 shares of Alphabet stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $185.85, for a total value of $278,775.00. Following the completion of the transaction, the director now directly owns 30,824 shares in the company, valued at $5,728,640.40. The disclosure for this sale can be found here. Insiders have sold a total of 179,367 shares of company stock worth $30,016,931 over the last three months. 11.55% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on GOOGL. BMO Capital Markets reissued an “outperform” rating and set a $222.00 target price on shares of Alphabet in a research note on Tuesday, August 6th. Loop Capital reissued a “hold” rating and issued a $170.00 price objective on shares of Alphabet in a research report on Wednesday, July 3rd. Argus upped their target price on Alphabet from $200.00 to $215.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. DA Davidson started coverage on Alphabet in a report on Tuesday, September 10th. They issued a “neutral” rating and a $170.00 target price for the company. Finally, Morgan Stanley cut their price target on Alphabet from $205.00 to $190.00 and set an “overweight” rating on the stock in a report on Tuesday, September 3rd. Eight analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Alphabet has an average rating of “Moderate Buy” and a consensus target price of $201.76.

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.