Horan Capital Advisors LLC. Sells 1,206 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Horan Capital Advisors LLC. lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.2% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 53,540 shares of the information services provider’s stock after selling 1,206 shares during the period. Alphabet accounts for approximately 3.4% of Horan Capital Advisors LLC.’s investment portfolio, making the stock its 4th biggest holding. Horan Capital Advisors LLC.’s holdings in Alphabet were worth $9,752,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Quest Partners LLC increased its position in Alphabet by 70.4% during the second quarter. Quest Partners LLC now owns 9,144 shares of the information services provider’s stock worth $1,666,000 after buying an additional 3,779 shares during the period. Adapt Wealth Advisors LLC acquired a new position in shares of Alphabet in the second quarter valued at approximately $244,000. Poplar Forest Capital LLC acquired a new position in shares of Alphabet in the second quarter valued at approximately $233,000. Clearwater Capital Advisors LLC increased its holdings in shares of Alphabet by 17.1% in the second quarter. Clearwater Capital Advisors LLC now owns 2,995 shares of the information services provider’s stock valued at $546,000 after purchasing an additional 438 shares during the period. Finally, Werba Rubin Papier Wealth Management increased its holdings in shares of Alphabet by 30.4% in the second quarter. Werba Rubin Papier Wealth Management now owns 12,717 shares of the information services provider’s stock valued at $2,316,000 after purchasing an additional 2,968 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insiders Place Their Bets

In other Alphabet news, 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 transaction of $278,775.00. Following the transaction, the director now owns 30,824 shares of the company’s stock, valued at approximately $5,728,640.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, SVP Prabhakar Raghavan sold 3,262 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $183.99, for a total transaction of $600,175.38. Following the sale, the senior vice president now directly owns 9 shares in the company, valued at approximately $1,655.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 sale, 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 a total of 180,167 shares of company stock valued at $29,762,606 in the last quarter. Insiders own 11.55% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $163.59 on Monday. Alphabet Inc. has a 1-year low of $120.21 and a 1-year high of $191.75. The business has a 50-day moving average of $164.72 and a 200-day moving average of $165.79. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. The company has a market capitalization of $2.02 trillion, a price-to-earnings ratio of 25.09, a PEG ratio of 1.13 and a beta of 1.04.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, beating 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 $70.60 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. During the same quarter in the prior year, the business posted $1.44 earnings per share. On average, equities analysts anticipate that Alphabet Inc. will post 7.64 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently declared 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 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date was Monday, September 9th. Alphabet’s dividend payout ratio is currently 12.27%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on GOOGL. Argus lifted their price target on Alphabet from $200.00 to $215.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Mizuho boosted their target price on Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Wedbush reiterated an “outperform” rating and set a $205.00 target price on shares of Alphabet in a research report on Thursday, September 5th. Evercore ISI decreased their target price on Alphabet from $225.00 to $200.00 and set an “outperform” rating on the stock in a research report on Monday, September 16th. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $222.00 target price on shares of Alphabet in a research report on Monday, September 16th. Eight investment analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $201.08.

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.