Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC lowered its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 5.0% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,479,820 shares of the information services provider’s stock after selling 236,889 shares during the period. Alphabet comprises about 2.9% of Los Angeles Capital Management LLC’s portfolio, making the stock its 5th biggest holding. Los Angeles Capital Management LLC’s holdings in Alphabet were worth $815,999,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Cullen Frost Bankers Inc. lifted its stake in Alphabet by 1.6% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 655,242 shares of the information services provider’s stock valued at $119,352,000 after purchasing an additional 10,173 shares during the last quarter. Hanlon Investment Management Inc. lifted its stake in shares of Alphabet by 5.6% in the 2nd quarter. Hanlon Investment Management Inc. now owns 3,374 shares of the information services provider’s stock valued at $615,000 after acquiring an additional 180 shares during the last quarter. Patron Partners LLC boosted its holdings in shares of Alphabet by 4.0% during the 2nd quarter. Patron Partners LLC now owns 10,550 shares of the information services provider’s stock valued at $1,922,000 after acquiring an additional 409 shares in the last quarter. Valtinson Bruner Financial Planning LLC grew its position in Alphabet by 3.7% during the 2nd quarter. Valtinson Bruner Financial Planning LLC now owns 3,230 shares of the information services provider’s stock worth $588,000 after acquiring an additional 115 shares during the last quarter. Finally, Wakefield Asset Management LLLP acquired a new position in Alphabet in the 2nd quarter worth about $3,475,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Buying and Selling

In other Alphabet news, SVP Prabhakar Raghavan sold 34,257 shares of the business’s stock in a transaction dated 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 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 can be accessed through this hyperlink. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on 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 sale, the chief executive officer now directly owns 2,114,885 shares in the company, valued at $339,713,977.55. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Prabhakar Raghavan sold 34,257 shares of the company’s 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 transaction, the senior vice president now directly owns 312,210 shares in the company, valued at approximately $50,765,346. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 180,167 shares of company stock worth $29,762,606. Insiders own 11.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on GOOGL shares. Rosenblatt Securities reissued a “neutral” rating and set a $181.00 price target on shares of Alphabet in a research note on Wednesday, July 24th. Wolfe Research assumed coverage on shares of Alphabet in a report on Tuesday, July 16th. They set an “outperform” rating and a $240.00 target price on the stock. Loop Capital reaffirmed a “hold” rating and set a $170.00 price target on shares of Alphabet in a research note on Wednesday, July 3rd. Bank of America boosted their price objective on shares of Alphabet from $200.00 to $206.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Finally, Wedbush reaffirmed an “outperform” rating and set a $205.00 target price on shares of Alphabet in a report on Thursday, September 5th. Eight investment analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $201.08.

Alphabet Price Performance

Alphabet stock opened at $163.59 on Friday. Alphabet Inc. has a 52 week low of $120.21 and a 52 week high of $191.75. The company’s 50 day moving average price is $164.72 and its two-hundred day moving average price is $165.32. The stock has a market cap of $2.02 trillion, a P/E ratio of 25.09, 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.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results 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 business had revenue of $84.74 billion for the quarter, compared to analyst estimates 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 company posted $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 declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, September 9th. This represents a $0.80 annualized dividend and a yield of 0.49%. Alphabet’s payout ratio is currently 12.27%.

Alphabet 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.