Alphabet Inc. (NASDAQ:GOOGL) Position Trimmed by Fiduciary Family Office LLC

Fiduciary Family Office LLC reduced its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,670 shares of the information services provider’s stock after selling 505 shares during the period. Alphabet accounts for about 2.4% of Fiduciary Family Office LLC’s portfolio, making the stock its 2nd largest holding. Fiduciary Family Office LLC’s holdings in Alphabet were worth $6,133,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Alphabet by 0.8% in the first quarter. Vanguard Group Inc. now owns 497,874,324 shares of the information services provider’s stock valued at $75,144,172,000 after purchasing an additional 4,064,073 shares during the period. Norges Bank purchased a new stake in shares of Alphabet in the 4th quarter valued at approximately $15,441,917,000. Capital Research Global Investors increased its holdings in shares of Alphabet by 14.4% during the 1st quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider’s stock worth $8,724,251,000 after buying an additional 7,275,757 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Alphabet by 0.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 49,472,478 shares of the information services provider’s stock valued at $9,011,412,000 after buying an additional 238,403 shares during the period. Finally, Fisher Asset Management LLC lifted its holdings in Alphabet by 3.3% in the fourth quarter. Fisher Asset Management LLC now owns 45,178,075 shares of the information services provider’s stock valued at $6,310,925,000 after acquiring an additional 1,429,261 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on GOOGL shares. Needham & Company LLC reiterated a “buy” rating and issued a $210.00 target price on shares of Alphabet in a report on Friday, August 30th. JMP Securities reissued a “market outperform” rating and set a $200.00 price target on shares of Alphabet in a research report on Monday. Cantor Fitzgerald initiated coverage on shares of Alphabet in a report on Thursday, September 5th. They issued a “neutral” rating and a $190.00 price objective for the company. Tigress Financial upped their target price on shares of Alphabet from $176.00 to $210.00 and gave the stock a “strong-buy” rating in a research note on Friday, May 24th. Finally, Wells Fargo & Company raised their price target on shares of Alphabet from $187.00 to $190.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 24th. Eight analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and an average target price of $201.08.

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 stock was sold at an average price of $185.85, for a total transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director John L. Hennessy sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $185.85, for a total transaction of $278,775.00. Following the transaction, the director now owns 30,824 shares of the company’s stock, valued at $5,728,640.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $183.47, for a total transaction of $125,126.54. Following the completion of the sale, the chief accounting officer now directly owns 30,650 shares of the company’s stock, valued at $5,623,355.50. The disclosure for this sale can be found here. In the last three months, insiders sold 180,167 shares of company stock worth $30,139,931. 11.55% of the stock is owned by corporate insiders.

Alphabet Price Performance

Shares of GOOGL opened at $158.06 on Tuesday. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a twelve month low of $120.21 and a twelve month high of $191.75. The firm has a market capitalization of $1.95 trillion, a PE ratio of 24.24, a P/E/G ratio of 1.13 and a beta of 1.04. The stock’s 50 day moving average is $166.84 and its two-hundred day moving average is $165.01.

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

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were paid a $0.20 dividend. The ex-dividend date was Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.51%. Alphabet’s payout ratio is 12.27%.

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.