Vanderbilt University reduced its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 30.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,326 shares of the information services provider's stock after selling 11,356 shares during the quarter. Alphabet accounts for 1.0% of Vanderbilt University's portfolio, making the stock its 15th largest position. Vanderbilt University's holdings in Alphabet were worth $4,795,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in the business. Tributary Capital Management LLC purchased a new stake in Alphabet during the 1st quarter worth $30,000. Vermillion & White Wealth Management Group LLC acquired a new position in shares of Alphabet in the 4th quarter worth approximately $30,000. DiNuzzo Private Wealth Inc. bought a new position in Alphabet in the fourth quarter worth about $38,000. CarsonAllaria Wealth Management Ltd. boosted its position in Alphabet by 59.2% during the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider's stock valued at $44,000 after purchasing an additional 109 shares during the period. Finally, Richardson Capital Management LLC increased its position in Alphabet by 87.5% in the first quarter. Richardson Capital Management LLC now owns 300 shares of the information services provider's stock worth $45,000 after buying an additional 140 shares during the period. Institutional investors and hedge funds own 40.03% of the company's stock.
Alphabet Price Performance
Shares of NASDAQ:GOOGL traded down $1.33 during midday trading on Wednesday, reaching $165.85. 22,881,674 shares of the company's stock were exchanged, compared to its average volume of 28,084,686. The company's 50 day simple moving average is $175.18 and its two-hundred day simple moving average is $162.89. 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 Inc. has a 12 month low of $120.21 and a 12 month high of $191.75. The firm has a market capitalization of $2.05 trillion, a PE ratio of 25.44, a price-to-earnings-growth ratio of 1.28 and a beta of 1.05.
Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings data 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 business had revenue of $84.74 billion during the quarter, compared to analysts' expectations of $70.60 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same quarter in the prior year, the company earned $1.44 EPS. Equities research analysts expect that Alphabet Inc. will post 7.62 earnings per share for the current fiscal year.
Alphabet Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 9th will be given a $0.20 dividend. The ex-dividend date is Monday, September 9th. This represents a $0.80 annualized dividend and a yield of 0.48%. Alphabet's dividend payout ratio is currently 12.27%.
Wall Street Analysts Forecast Growth
Several research firms have recently issued reports on GOOGL. UBS Group increased their price target on Alphabet from $200.00 to $204.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 24th. Wedbush reiterated an "outperform" rating and set a $205.00 price target on shares of Alphabet in a research report on Monday, July 22nd. Tigress Financial boosted their price objective on Alphabet from $176.00 to $210.00 and gave the stock a "strong-buy" rating in a research note on Friday, May 24th. JPMorgan Chase & Co. raised their target price on Alphabet from $200.00 to $208.00 and gave the company an "overweight" rating in a research note on Wednesday, July 24th. Finally, Rosenblatt Securities reiterated a "neutral" rating and issued a $181.00 price target on shares of Alphabet in a research report on Wednesday, July 24th. Six research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $203.74.
Check Out Our Latest Research Report on GOOGL
Insiders Place Their Bets
In related news, Director John L. Hennessy sold 1,500 shares of the firm's stock in a transaction on Friday, July 12th. The shares were sold at an average price of $185.85, for a total value of $278,775.00. Following the completion of the transaction, the director now owns 30,824 shares of the company's stock, valued at $5,728,640.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $167.66, for a total value of $3,772,350.00. Following the completion of the sale, the chief executive officer now owns 2,159,885 shares of the company's stock, valued at approximately $362,126,319.10. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John L. Hennessy sold 1,500 shares of the firm's stock in a transaction on Friday, July 12th. The shares were sold at an average price of $185.85, for a total transaction of $278,775.00. Following the completion of the transaction, the director now directly owns 30,824 shares of the company's stock, valued at $5,728,640.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 156,565 shares of company stock worth $26,823,893. Corporate insiders own 11.55% of the company's stock.
Alphabet Profile
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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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