Federated Hermes Inc. Sells 22,579 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Federated Hermes Inc. reduced its position in Alphabet Inc. (NASDAQ:GOOGL) by 1.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,212,089 shares of the information services provider’s stock after selling 22,579 shares during the quarter. Alphabet makes up about 1.0% of Federated Hermes Inc.’s investment portfolio, making the stock its 14th largest holding. Federated Hermes Inc.’s holdings in Alphabet were worth $402,932,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. GHP Investment Advisors Inc. grew its stake in shares of Alphabet by 1.5% in the 2nd quarter. GHP Investment Advisors Inc. now owns 26,078 shares of the information services provider’s stock worth $4,750,000 after buying an additional 379 shares in the last quarter. Meeder Advisory Services Inc. grew its position in Alphabet by 45.5% in the second quarter. Meeder Advisory Services Inc. now owns 100,375 shares of the information services provider’s stock worth $18,283,000 after acquiring an additional 31,380 shares in the last quarter. Ullmann Wealth Partners Group LLC increased its stake in Alphabet by 18.7% during the second quarter. Ullmann Wealth Partners Group LLC now owns 8,571 shares of the information services provider’s stock worth $1,561,000 after acquiring an additional 1,353 shares during the last quarter. Oppenheimer & Co. Inc. raised its position in Alphabet by 4.3% during the second quarter. Oppenheimer & Co. Inc. now owns 470,556 shares of the information services provider’s stock valued at $85,712,000 after purchasing an additional 19,283 shares during the period. Finally, Financial Alternatives Inc lifted its stake in shares of Alphabet by 11.6% in the 2nd quarter. Financial Alternatives Inc now owns 1,507 shares of the information services provider’s stock valued at $275,000 after purchasing an additional 157 shares during the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Alphabet

In other news, Director John L. Hennessy sold 700 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $165.00, for a total transaction of $115,500.00. Following the completion of the transaction, the director now owns 27,824 shares in the company, valued at $4,590,960. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $182.84, for a total transaction of $4,113,900.00. Following the transaction, the chief executive officer now directly owns 2,204,885 shares of the company’s stock, valued at $403,141,173.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John L. Hennessy sold 700 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $165.00, for a total transaction of $115,500.00. Following the completion of the sale, the director now owns 27,824 shares of the company’s stock, valued at approximately $4,590,960. The disclosure for this sale can be found here. In the last three months, insiders have sold 180,867 shares of company stock worth $29,878,106. 11.55% of the stock is currently owned by insiders.

Alphabet Trading Up 0.7 %

NASDAQ GOOGL opened at $163.95 on Friday. Alphabet Inc. has a one year low of $120.21 and a one year high of $191.75. The company’s 50 day moving average price is $163.11 and its 200 day moving average price is $166.11. The firm has a market capitalization of $2.03 trillion, a price-to-earnings ratio of 25.15, a PEG ratio of 1.21 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data 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. The company had revenue of $84.74 billion for the quarter, compared to analyst estimates of $70.60 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. During the same period last year, the company posted $1.44 earnings per share. On average, sell-side analysts predict that Alphabet Inc. will post 7.63 EPS for the current year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 9th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.49%. Alphabet’s dividend payout ratio (DPR) is 12.27%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on GOOGL shares. Rosenblatt Securities restated a “neutral” rating and set a $181.00 price objective on shares of Alphabet in a report on Wednesday, July 24th. Wedbush reaffirmed an “outperform” rating and issued a $205.00 price target on shares of Alphabet in a research note on Thursday, September 5th. Truist Financial reissued a “buy” rating and issued a $196.00 price objective on shares of Alphabet in a research report on Monday, September 16th. Piper Sandler reduced their target price on shares of Alphabet from $206.00 to $200.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 10th. Finally, Royal Bank of Canada lifted their price target on shares of Alphabet from $200.00 to $204.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Eight investment analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and an average price target of $201.35.

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.