Sensible Money LLC Lowers Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Sensible Money LLC reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 5.9% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,378 shares of the information services provider’s stock after selling 210 shares during the period. Sensible Money LLC’s holdings in Alphabet were worth $620,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. JPMorgan Chase & Co. raised its stake in Alphabet by 19.7% during 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 purchasing an additional 13,876,534 shares during the period. Swedbank AB bought a new stake in Alphabet during the 1st quarter valued at approximately $1,378,708,000. Capital International Investors raised its stake in Alphabet by 9.3% during the 1st quarter. Capital International Investors now owns 87,716,562 shares of the information services provider’s stock valued at $13,355,724,000 after purchasing an additional 7,470,042 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Alphabet by 51.8% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 6,416,150 shares of the information services provider’s stock valued at $976,923,000 after purchasing an additional 2,190,795 shares during the period. Finally, Vima LLC raised its stake in Alphabet by 178,253.1% during the 1st quarter. Vima LLC now owns 2,001,122 shares of the information services provider’s stock valued at $304,691,000 after purchasing an additional 2,000,000 shares during the period. 27.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Pivotal Research assumed coverage on Alphabet in a research note on Tuesday. They issued a “buy” rating and a $215.00 price objective on the stock. Oppenheimer reduced their price objective on Alphabet from $210.00 to $185.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 25th. DA Davidson raised Alphabet to a “hold” rating in a research note on Tuesday, September 10th. Wolfe Research raised Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. Finally, Cantor Fitzgerald raised Alphabet to a “hold” rating in a research note on Thursday, September 5th. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $183.75.

Alphabet Price Performance

GOOG opened at $168.42 on Wednesday. The business has a fifty day moving average of $163.71 and a 200 day moving average of $168.51. Alphabet Inc. has a 52-week low of $121.46 and a 52-week 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 stock has a market cap of $2.08 trillion, a P/E ratio of 25.83, a PEG ratio of 1.21 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $84.22 billion. During the same quarter in the previous year, the business earned $1.44 EPS. Alphabet’s revenue was up 13.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Alphabet Inc. will post 7.63 EPS for the current year.

Alphabet Announces Dividend

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

Insiders Place Their Bets

In other Alphabet news, Director John L. Hennessy sold 1,500 shares of the company’s stock in a transaction 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 completion of the sale, the director now directly owns 30,824 shares in the company, valued at approximately $5,728,640.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Alphabet news, Director John L. Hennessy sold 1,500 shares of the company’s stock in a transaction 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 completion of the sale, the director now directly owns 30,824 shares in the company, valued at approximately $5,728,640.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total value of $114,576.00. Following the completion of the sale, the chief accounting officer now owns 31,334 shares of the company’s stock, valued at $5,264,112. The disclosure for this sale can be found here. In the last ninety days, insiders sold 193,725 shares of company stock worth $31,933,031. 12.99% of the stock is currently owned by company insiders.

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.