Alphabet Inc. (NASDAQ:GOOG) Position Reduced by Elkhorn Partners Limited Partnership

Elkhorn Partners Limited Partnership decreased its holdings in Alphabet Inc. (NASDAQ:GOOG) by 3.8% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 17,600 shares of the information services provider’s stock after selling 700 shares during the period. Alphabet makes up about 2.2% of Elkhorn Partners Limited Partnership’s investment portfolio, making the stock its 5th largest position. Elkhorn Partners Limited Partnership’s holdings in Alphabet were worth $3,228,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. 1620 Investment Advisors Inc. purchased a new position in Alphabet in the second quarter valued at approximately $37,000. Richardson Financial Services Inc. purchased a new stake in shares of Alphabet during the fourth quarter valued at approximately $34,000. Slocum Gordon & Co LLP purchased a new stake in shares of Alphabet during the second quarter valued at approximately $44,000. Hoese & Co LLP raised its stake in shares of Alphabet by 62.5% during the second quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock valued at $45,000 after purchasing an additional 100 shares during the period. Finally, Iron Horse Wealth Management LLC purchased a new stake in shares of Alphabet during the second quarter valued at approximately $48,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insiders Place Their Bets

In other Alphabet news, SVP Prabhakar Raghavan sold 3,262 shares of Alphabet stock in a transaction on Monday, July 1st. The shares were sold at an average price of $183.99, for a total value of $600,175.38. Following the completion of the transaction, the senior vice president now owns 9 shares of the company’s stock, valued at $1,655.91. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, SVP Prabhakar Raghavan sold 3,262 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $183.99, for a total transaction of $600,175.38. Following the completion of the transaction, the senior vice president now owns 9 shares of the company’s stock, valued at $1,655.91. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $186.74, for a total transaction of $4,201,650.00. Following the transaction, the chief executive officer now directly owns 2,227,385 shares of the company’s stock, valued at approximately $415,941,874.90. The disclosure for this sale can be found here. Insiders sold a total of 202,667 shares of company stock valued at $33,964,256 over the last 90 days. 12.99% of the stock is owned by company insiders.

Analyst Ratings Changes

GOOG has been the topic of a number of analyst reports. Oppenheimer lifted their price objective on shares of Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. DA Davidson upgraded shares of Alphabet to a “hold” rating in a research note on Tuesday, September 10th. TD Cowen lifted their price objective on shares of Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Cantor Fitzgerald upgraded shares of Alphabet to a “hold” rating in a research note on Thursday, September 5th. Finally, Wolfe Research raised shares of Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $182.86.

Alphabet Stock Up 0.3 %

GOOG stock opened at $160.81 on Thursday. Alphabet Inc. has a twelve month low of $121.46 and a twelve month high of $193.31. 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 company has a market capitalization of $1.99 trillion, a P/E ratio of 24.66, a PEG ratio of 1.13 and a beta of 1.04. The firm has a 50 day simple moving average of $167.19 and a 200-day simple moving average of $166.60.

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. The firm had revenue of $84.74 billion during the quarter, compared to the consensus estimate of $84.22 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The firm’s revenue was up 13.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.44 earnings per share. On average, equities research analysts predict that Alphabet Inc. will post 7.63 earnings per share for the current fiscal 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 issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date of this dividend was Monday, September 9th. Alphabet’s dividend payout ratio is presently 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.