Elkhorn Partners Limited Partnership decreased its holdings in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 3.8% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 17,600 shares of the information services provider’s stock after selling 700 shares during the period. Alphabet makes up about 2.2% of Elkhorn Partners Limited Partnership’s investment portfolio, making the stock its 5th largest position. Elkhorn Partners Limited Partnership’s holdings in Alphabet were worth $3,228,000 as of its most recent SEC filing.
Other hedge funds have also recently bought and sold shares of the company. 1620 Investment Advisors Inc. purchased a new position in Alphabet in the second quarter valued at approximately $37,000. Richardson Financial Services Inc. purchased a new stake in shares of Alphabet during the fourth quarter valued at approximately $34,000. Slocum Gordon & Co LLP purchased a new stake in shares of Alphabet during the second quarter valued at approximately $44,000. Hoese & Co LLP raised its stake in shares of Alphabet by 62.5% during the second quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock valued at $45,000 after purchasing an additional 100 shares during the period. Finally, Iron Horse Wealth Management LLC purchased a new stake in shares of Alphabet during the second quarter valued at approximately $48,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.
Insiders Place Their Bets
In other Alphabet news, SVP Prabhakar Raghavan sold 3,262 shares of Alphabet stock in a transaction on Monday, July 1st. The shares were sold at an average price of $183.99, for a total value of $600,175.38. Following the completion of the transaction, the senior vice president now owns 9 shares of the company’s stock, valued at $1,655.91. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, SVP Prabhakar Raghavan sold 3,262 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $183.99, for a total transaction of $600,175.38. Following the completion of the transaction, the senior vice president now owns 9 shares of the company’s stock, valued at $1,655.91. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $186.74, for a total transaction of $4,201,650.00. Following the transaction, the chief executive officer now directly owns 2,227,385 shares of the company’s stock, valued at approximately $415,941,874.90. The disclosure for this sale can be found here. Insiders sold a total of 202,667 shares of company stock valued at $33,964,256 over the last 90 days. 12.99% of the stock is owned by company insiders.
Analyst Ratings Changes
Read Our Latest Stock Analysis on GOOG
Alphabet Stock Up 0.3 %
GOOG stock opened at $160.81 on Thursday. Alphabet Inc. has a twelve month low of $121.46 and a twelve month high of $193.31. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $1.99 trillion, a P/E ratio of 24.66, a PEG ratio of 1.13 and a beta of 1.04. The firm has a 50 day simple moving average of $167.19 and a 200-day simple moving average of $166.60.
Alphabet (NASDAQ:GOOG – Get Free Report) 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. The firm had revenue of $84.74 billion during the quarter, compared to the consensus estimate of $84.22 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The firm’s revenue was up 13.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.44 earnings per share. On average, equities research analysts predict that Alphabet Inc. will post 7.63 earnings per share for the current fiscal year.
Alphabet Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 9th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date of this dividend was Monday, September 9th. Alphabet’s dividend payout ratio is presently 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.
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