Driehaus Capital Management LLC Sells 805 Shares of Alphabet Inc. (NASDAQ:GOOG)

Driehaus Capital Management LLC decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 22.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,802 shares of the information services provider’s stock after selling 805 shares during the period. Driehaus Capital Management LLC’s holdings in Alphabet were worth $514,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Capital International Investors raised its stake 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 acquiring an additional 7,470,042 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Alphabet by 19.7% in the first quarter. JPMorgan Chase & Co. now owns 84,171,721 shares of the information services provider’s stock valued at $12,815,986,000 after purchasing an additional 13,876,534 shares in the last quarter. Capital World Investors increased its stake in shares of 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 buying an additional 979,083 shares during the period. Capital Research Global Investors increased its position in Alphabet by 2.0% in the first quarter. Capital Research Global Investors now owns 35,558,778 shares of the information services provider’s stock worth $5,414,179,000 after purchasing an additional 684,968 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in Alphabet by 4.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 14,657,421 shares of the information services provider’s stock worth $2,688,743,000 after purchasing an additional 636,008 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Alphabet

In other news, insider John Kent Walker sold 16,802 shares of the firm’s stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $165.47, for a total transaction of $2,780,226.94. Following the completion of the transaction, the insider now directly owns 43,999 shares of the company’s stock, valued at approximately $7,280,514.53. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Alphabet news, CAO Amie Thuener O’toole sold 2,835 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total transaction of $429,587.55. Following the sale, the chief accounting officer now directly owns 29,182 shares of the company’s stock, valued at approximately $4,421,948.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider John Kent Walker sold 16,802 shares of the firm’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $165.47, for a total value of $2,780,226.94. Following the completion of the transaction, the insider now owns 43,999 shares of the company’s stock, valued at approximately $7,280,514.53. The disclosure for this sale can be found here. In the last quarter, insiders have sold 216,225 shares of company stock worth $36,134,681. Corporate insiders own 12.99% of the company’s stock.

Alphabet Stock Up 1.1 %

Shares of GOOG stock opened at $167.19 on Tuesday. Alphabet Inc. has a 12-month low of $121.46 and a 12-month high of $193.31. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. The firm has a fifty day moving average of $164.02 and a 200-day moving average of $168.32. The company has a market capitalization of $2.07 trillion, a price-to-earnings ratio of 25.64, a P/E/G ratio of 1.21 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last released 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 firm had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $84.22 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The company’s revenue was up 13.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.44 EPS. As a group, equities research analysts predict that Alphabet Inc. will post 7.63 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date of this dividend was Monday, September 9th. Alphabet’s dividend payout ratio is presently 12.27%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on GOOG shares. DA Davidson upgraded shares of Alphabet to a “hold” rating in a research report on Tuesday, September 10th. Cantor Fitzgerald raised Alphabet to a “hold” rating in a research note on Thursday, September 5th. Rosenblatt Securities lowered Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price on the stock. in a research note on Friday, June 28th. TD Cowen boosted their target price on Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Finally, Oppenheimer cut their price target on shares of Alphabet from $210.00 to $185.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 25th. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $179.29.

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.