Alphabet Inc. (NASDAQ:GOOG) Position Lessened by Tcwp LLC

Tcwp LLC lowered its position in Alphabet Inc. (NASDAQ:GOOG) by 2.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,427 shares of the information services provider’s stock after selling 75 shares during the quarter. Alphabet makes up approximately 1.5% of Tcwp LLC’s holdings, making the stock its 18th biggest position. Tcwp LLC’s holdings in Alphabet were worth $629,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in GOOG. 1620 Investment Advisors Inc. bought a new stake in shares of Alphabet during the 2nd quarter worth about $37,000. Richardson Financial Services Inc. bought a new position in shares of Alphabet in the fourth quarter valued at approximately $34,000. Slocum Gordon & Co LLP acquired a new stake in shares of Alphabet in the second quarter worth $44,000. Hoese & Co LLP boosted its holdings in shares of Alphabet by 62.5% during the 2nd quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock worth $45,000 after buying an additional 100 shares during the period. Finally, Iron Horse Wealth Management LLC bought a new stake in shares of Alphabet during the 2nd quarter worth $48,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Cantor Fitzgerald raised shares of Alphabet to a “hold” rating in a research report on Thursday, September 5th. Rosenblatt Securities downgraded Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price for the company. in a research note on Friday, June 28th. Oppenheimer lifted their price target on Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Wolfe Research raised Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. Finally, TD Cowen boosted their target price on shares of Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and a consensus target price of $182.86.

Alphabet Trading Up 0.9 %

GOOG stock opened at $164.64 on Friday. The business has a fifty day moving average price of $166.26 and a 200 day moving average price of $166.79. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. Alphabet Inc. has a fifty-two week low of $121.46 and a fifty-two week high of $193.31. The stock has a market capitalization of $2.03 trillion, a price-to-earnings ratio of 25.25, a P/E/G ratio of 1.13 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. The company had revenue of $84.74 billion for the quarter, compared to analyst estimates of $84.22 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. Alphabet’s quarterly revenue was up 13.6% on a year-over-year basis. During the same period in the prior year, the business earned $1.44 earnings per share. Analysts expect that Alphabet Inc. will post 7.63 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 9th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date of this dividend was Monday, September 9th. Alphabet’s dividend payout ratio is presently 12.27%.

Insider Activity

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $160.63, for a total value of $3,614,175.00. Following the transaction, the chief executive officer now owns 2,114,885 shares of the company’s stock, valued at $339,713,977.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Alphabet news, SVP Prabhakar Raghavan sold 34,257 shares of Alphabet stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the transaction, the senior vice president now directly owns 312,210 shares in the company, valued at $50,765,346. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $160.63, for a total value of $3,614,175.00. Following the completion of the sale, the chief executive officer now owns 2,114,885 shares of the company’s stock, valued at $339,713,977.55. The disclosure for this sale can be found here. Insiders have sold a total of 202,667 shares of company stock valued at $33,964,256 in the last 90 days. 12.99% of the stock is owned by company insiders.

About Alphabet

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.