Schwerin Boyle Capital Management Inc. Sells 2,250 Shares of Alphabet Inc. (NASDAQ:GOOG)

Schwerin Boyle Capital Management Inc. cut its stake in Alphabet Inc. (NASDAQ:GOOG) by 0.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 284,980 shares of the information services provider’s stock after selling 2,250 shares during the period. Alphabet comprises about 5.5% of Schwerin Boyle Capital Management Inc.’s holdings, making the stock its 3rd largest holding. Schwerin Boyle Capital Management Inc.’s holdings in Alphabet were worth $52,271,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in GOOG. 1620 Investment Advisors Inc. acquired a new stake in shares of Alphabet in the 2nd quarter worth $37,000. Richardson Financial Services Inc. acquired a new position in shares of Alphabet in the fourth quarter worth $34,000. Slocum Gordon & Co LLP purchased a new stake in shares of Alphabet in the second quarter valued at $44,000. Hoese & Co LLP grew its holdings 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 worth $45,000 after buying an additional 100 shares in the last quarter. Finally, Iron Horse Wealth Management LLC acquired a new position in Alphabet in the 2nd quarter valued at $48,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on GOOG shares. Rosenblatt Securities lowered shares of 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. Oppenheimer lifted their target price on shares of Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. TD Cowen upped 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. DA Davidson raised shares of Alphabet to a “hold” rating in a research report on Tuesday, September 10th. Finally, Wolfe Research raised shares of Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. Three equities 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’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $182.86.

Alphabet Price Performance

NASDAQ GOOG opened at $164.64 on Friday. The company has a 50 day moving average price of $166.26 and a two-hundred day moving average price of $167.02. 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 stock has a market capitalization of $2.03 trillion, a PE ratio of 25.25, a price-to-earnings-growth ratio of 1.13 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, topping the consensus estimate of $1.85 by $0.04. The company had revenue of $84.74 billion for 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 business’s revenue was up 13.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.44 EPS. As a group, equities analysts predict that Alphabet Inc. will post 7.63 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.49%. The ex-dividend date was Monday, September 9th. Alphabet’s payout ratio is currently 12.27%.

Insiders Place Their Bets

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 stock was sold at an average price of $151.53, for a total transaction of $429,587.55. Following the completion of 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Alphabet news, SVP Prabhakar Raghavan sold 34,257 shares of the company’s 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 sale, the senior vice president now directly owns 312,210 shares of the company’s stock, valued at $50,765,346. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,835 shares of the company’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total transaction of $429,587.55. Following the completion of the transaction, the chief accounting officer now owns 29,182 shares in the company, valued at $4,421,948.46. The disclosure for this sale can be found here. Over the last three months, insiders sold 202,667 shares of company stock valued at $33,964,256. Insiders own 12.99% of the company’s stock.

About Alphabet

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.