Holderness Investments Co. Decreases Holdings in Alphabet Inc. (NASDAQ:GOOG)

Holderness Investments Co. lowered its position in Alphabet Inc. (NASDAQ:GOOG) by 0.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,285 shares of the information services provider’s stock after selling 100 shares during the period. Alphabet makes up about 0.8% of Holderness Investments Co.’s investment portfolio, making the stock its 28th biggest position. Holderness Investments Co.’s holdings in Alphabet were worth $3,354,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Capital International Investors increased its position in shares of Alphabet by 9.3% in the first quarter. Capital International Investors now owns 87,716,562 shares of the information services provider’s stock valued at $13,355,724,000 after buying an additional 7,470,042 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Alphabet by 19.7% in the 1st quarter. JPMorgan Chase & Co. now owns 84,171,721 shares of the information services provider’s stock valued at $12,815,986,000 after acquiring an additional 13,876,534 shares during the last quarter. Capital World Investors grew its stake in Alphabet by 2.2% in the 1st quarter. Capital World Investors now owns 45,731,826 shares of the information services provider’s stock valued at $6,963,128,000 after acquiring an additional 979,083 shares during the last quarter. Capital Research Global Investors increased its holdings in Alphabet by 2.0% during the 1st quarter. Capital Research Global Investors now owns 35,558,778 shares of the information services provider’s stock valued at $5,414,179,000 after acquiring an additional 684,968 shares in the last quarter. Finally, Sanders Capital LLC raised its position in Alphabet by 2.9% during the fourth quarter. Sanders Capital LLC now owns 28,558,000 shares of the information services provider’s stock worth $4,024,679,000 after acquiring an additional 813,428 shares during the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Alphabet

In related news, SVP Prabhakar Raghavan sold 34,257 shares of Alphabet stock in a transaction on Thursday, August 15th. The shares were 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 owns 312,210 shares in the company, valued at approximately $50,765,346. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total transaction of $125,126.54. Following the sale, the chief accounting officer now owns 30,650 shares in the company, valued at $5,623,355.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Prabhakar Raghavan sold 34,257 shares of the business’s stock in a transaction on 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 disclosure for this sale can be found here. Insiders sold 202,667 shares of company stock valued at $33,964,256 over the last 90 days. Corporate insiders own 12.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on GOOG shares. TD Cowen increased their price target on shares of Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Oppenheimer increased their target price on Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. DA Davidson raised Alphabet to a “hold” rating in a report on Tuesday, September 10th. Wolfe Research raised shares of Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. Finally, Rosenblatt Securities cut Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective on the stock. in a report on Friday, June 28th. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $182.86.

Alphabet Trading Up 0.9 %

Shares of GOOG opened at $164.64 on Friday. Alphabet Inc. has a twelve month low of $121.46 and a twelve month high of $193.31. The firm has a market capitalization of $2.03 trillion, a P/E ratio of 25.25, a price-to-earnings-growth ratio of 1.13 and a beta of 1.04. 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 stock’s fifty day simple moving average is $166.26 and its 200 day simple moving average is $167.02.

Alphabet (NASDAQ:GOOG) 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 return on equity of 30.49% and a net margin of 26.70%. The company had revenue of $84.74 billion for the quarter, compared to the consensus estimate of $84.22 billion. During the same period last year, the business posted $1.44 EPS. The company’s quarterly revenue was up 13.6% compared to the same quarter last year. On average, equities research analysts forecast that Alphabet Inc. will post 7.63 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. Shareholders of record on Monday, September 9th were paid a dividend of $0.20 per share. The ex-dividend date was Monday, September 9th. This represents a $0.80 annualized dividend and a yield of 0.49%. Alphabet’s dividend payout ratio is currently 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.