Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Gordian Capital Singapore Pte Ltd

Gordian Capital Singapore Pte Ltd decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 4.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 52,465 shares of the information services provider’s stock after selling 2,205 shares during the quarter. Alphabet makes up 5.1% of Gordian Capital Singapore Pte Ltd’s holdings, making the stock its 7th biggest position. Gordian Capital Singapore Pte Ltd’s holdings in Alphabet were worth $9,620,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Richardson Financial Services Inc. bought a new stake in shares of Alphabet in the fourth quarter valued at about $34,000. Abich Financial Wealth Management LLC boosted its position in shares of Alphabet by 9,200.0% in the second quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock valued at $34,000 after acquiring an additional 184 shares during the period. 1620 Investment Advisors Inc. bought a new stake in shares of Alphabet in the second quarter valued at about $37,000. HWG Holdings LP acquired a new position in Alphabet in the second quarter valued at about $40,000. Finally, Slocum Gordon & Co LLP acquired a new position in Alphabet in the second quarter valued at about $44,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Stock Performance

NASDAQ:GOOG opened at $168.42 on Wednesday. The stock has a market cap of $2.08 trillion, a P/E ratio of 25.83, a price-to-earnings-growth ratio of 1.21 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 50-day moving average is $163.71 and its 200-day moving average is $168.51. Alphabet Inc. has a 1-year low of $121.46 and a 1-year high of $193.31.

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

Alphabet Dividend Announcement

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

Insider Activity at Alphabet

In related news, Director John L. Hennessy sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $185.85, for a total value of $278,775.00. Following the sale, the director now directly owns 30,824 shares in the company, valued at $5,728,640.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Alphabet news, CAO Amie Thuener O’toole sold 2,835 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total transaction of $429,587.55. Following the transaction, the chief accounting officer now directly owns 29,182 shares in the company, valued at approximately $4,421,948.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John L. Hennessy sold 1,500 shares of the stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $185.85, for a total value of $278,775.00. Following the transaction, the director now owns 30,824 shares in the company, valued at $5,728,640.40. The disclosure for this sale can be found here. Insiders have sold 193,725 shares of company stock worth $31,933,031 over the last ninety days. Insiders own 12.99% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on GOOG. TD Cowen boosted their price target on Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Rosenblatt Securities downgraded Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target for the company. in a research note on Friday, June 28th. Cantor Fitzgerald raised Alphabet to a “hold” rating in a research note on Thursday, September 5th. Oppenheimer lowered their target price on Alphabet from $210.00 to $185.00 and set an “outperform” rating for the company in a research note on Wednesday, September 25th. Finally, DA Davidson raised Alphabet to a “hold” rating in a research note on Tuesday, September 10th. Three analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $183.75.

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.