Senator Investment Group LP lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 35.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 275,000 shares of the information services provider's stock after selling 150,000 shares during the quarter. Alphabet accounts for about 2.5% of Senator Investment Group LP's holdings, making the stock its 15th biggest holding. Senator Investment Group LP's holdings in Alphabet were worth $50,440,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently bought and sold shares of the company. Park Avenue Securities LLC boosted its stake in shares of Alphabet by 11.9% in the first quarter. Park Avenue Securities LLC now owns 109,878 shares of the information services provider's stock valued at $16,730,000 after purchasing an additional 11,646 shares during the period. Colonial River Wealth Management LLC raised its holdings in Alphabet by 5.3% in the second quarter. Colonial River Wealth Management LLC now owns 2,126 shares of the information services provider's stock valued at $390,000 after acquiring an additional 107 shares in the last quarter. Oak Ridge Investments LLC raised its holdings in Alphabet by 4.6% in the first quarter. Oak Ridge Investments LLC now owns 187,229 shares of the information services provider's stock valued at $28,508,000 after acquiring an additional 8,201 shares in the last quarter. Rosenberg Matthew Hamilton raised its holdings in Alphabet by 4.6% in the second quarter. Rosenberg Matthew Hamilton now owns 11,366 shares of the information services provider's stock valued at $2,097,000 after acquiring an additional 498 shares in the last quarter. Finally, Alliance Wealth Management Group raised its holdings in Alphabet by 93.6% in the first quarter. Alliance Wealth Management Group now owns 3,910 shares of the information services provider's stock valued at $595,000 after acquiring an additional 1,890 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company's stock.
Insider Activity at Alphabet
In other Alphabet news, SVP Prabhakar Raghavan sold 34,257 shares of the business'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 in the company, valued at approximately $50,765,346. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Alphabet news, SVP Prabhakar Raghavan sold 34,257 shares of the business'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 in the company, valued at approximately $50,765,346. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John Kent Walker sold 21,467 shares of the business's stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $160.35, for a total transaction of $3,442,233.45. Following the sale, the insider now owns 39,334 shares in the company, valued at $6,307,206.90. The disclosure for this sale can be found here. Insiders have sold a total of 216,907 shares of company stock worth $36,259,808 in the last three months. Insiders own 12.99% of the company's stock.
Alphabet Stock Performance
Shares of Alphabet stock traded up $1.90 during trading on Monday, reaching $167.19. The company's stock had a trading volume of 14,071,944 shares, compared to its average volume of 20,085,924. The company has a 50-day moving average price of $164.02 and a two-hundred day moving average price of $168.32. The firm has a market cap of $2.07 trillion, a PE ratio of 25.64, a P/E/G ratio of 1.21 and a beta of 1.04. Alphabet Inc. has a fifty-two week low of $121.46 and a fifty-two week 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.
Alphabet (NASDAQ:GOOG - Get Free Report) last announced its 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. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The business had revenue of $84.74 billion for the quarter, compared to analysts' expectations of $84.22 billion. During the same period in the previous year, the company posted $1.44 EPS. The company's quarterly revenue was up 13.6% on a year-over-year basis. On average, analysts forecast that Alphabet Inc. will post 7.63 EPS for the current year.
Alphabet Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were given a $0.20 dividend. The ex-dividend date of this dividend was Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.48%. Alphabet's dividend payout ratio (DPR) is 12.27%.
Wall Street Analysts Forecast Growth
Several analysts recently weighed in on GOOG shares. Rosenblatt Securities cut shares of Alphabet from a "buy" rating to a "neutral" rating and set a $181.00 target price on the stock. in a report on Friday, June 28th. DA Davidson raised shares of Alphabet to a "hold" rating in a report on Tuesday, September 10th. Oppenheimer cut their price objective on shares of Alphabet from $210.00 to $185.00 and set an "outperform" rating on the stock in a report on Wednesday, September 25th. TD Cowen raised their price objective on shares of Alphabet from $200.00 to $220.00 and gave the stock a "buy" rating in a report on Wednesday, July 10th. Finally, Cantor Fitzgerald raised shares of Alphabet to a "hold" rating in a report on Thursday, September 5th. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $179.29.
Check Out Our Latest Stock Report on GOOG
About Alphabet
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Free Report)
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.
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