SlateStone Wealth LLC trimmed its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 10.8% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 129,767 shares of the information services provider's stock after selling 15,762 shares during the quarter. Alphabet accounts for about 2.6% of SlateStone Wealth LLC's holdings, making the stock its 6th biggest holding. SlateStone Wealth LLC's holdings in Alphabet were worth $23,637,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in GOOGL. Norges Bank bought a new position in Alphabet in the 4th quarter worth $15,441,917,000. Capital Research Global Investors grew its position in Alphabet by 14.4% during the 1st quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider's stock valued at $8,724,251,000 after purchasing an additional 7,275,757 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Alphabet by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 493,810,251 shares of the information services provider's stock valued at $68,980,354,000 after acquiring an additional 6,374,756 shares during the last quarter. Public Employees Retirement Association of Colorado boosted its holdings in shares of Alphabet by 39,754.9% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 6,025,667 shares of the information services provider's stock valued at $841,725,000 after acquiring an additional 6,010,548 shares during the last quarter. Finally, PineStone Asset Management Inc. boosted its holdings in shares of Alphabet by 143.7% during the 2nd quarter. PineStone Asset Management Inc. now owns 7,072,197 shares of the information services provider's stock valued at $1,288,201,000 after acquiring an additional 4,170,229 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors.
Insiders Place Their Bets
In other Alphabet news, CAO Amie Thuener O'toole sold 682 shares of the business's stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $183.47, for a total transaction of $125,126.54. Following the sale, the chief accounting officer now owns 30,650 shares in the company, valued at approximately $5,623,355.50. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, CEO Sundar Pichai sold 22,500 shares of the business's stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $162.35, for a total value of $3,652,875.00. Following the completion of the sale, the chief executive officer now owns 2,182,385 shares of the company's stock, valued at approximately $354,310,204.75. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Amie Thuener O'toole sold 682 shares of the business's stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total value of $125,126.54. Following the completion of the sale, the chief accounting officer now directly owns 30,650 shares of the company's stock, valued at approximately $5,623,355.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 134,065 shares of company stock worth $22,841,690. 11.55% of the stock is owned by corporate insiders.
Alphabet Stock Performance
Shares of GOOGL traded down $0.91 during midday trading on Wednesday, hitting $156.45. 19,320,370 shares of the stock traded hands, compared to its average volume of 27,650,459. Alphabet Inc. has a 1-year low of $120.21 and a 1-year high of $191.75. The firm has a market capitalization of $1.93 trillion, a PE ratio of 24.00, a price-to-earnings-growth ratio of 1.22 and a beta of 1.05. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. The business's 50 day moving average price is $172.04 and its two-hundred day moving average price is $164.11.
Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.04. The business had revenue of $84.74 billion during the quarter, compared to the consensus estimate 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 posted $1.44 earnings per share. Equities research analysts predict that Alphabet Inc. will post 7.63 EPS for the current fiscal year.
Alphabet Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, September 9th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.51%. The ex-dividend date of this dividend is Monday, September 9th. Alphabet's dividend payout ratio (DPR) is presently 12.27%.
Wall Street Analyst Weigh In
GOOGL has been the topic of several recent research reports. Royal Bank of Canada increased their price objective on shares of Alphabet from $200.00 to $204.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 24th. Jefferies Financial Group lifted their price objective on shares of Alphabet from $215.00 to $220.00 in a research report on Tuesday, July 9th. JPMorgan Chase & Co. lifted their price objective on shares of Alphabet from $200.00 to $208.00 and gave the company an "overweight" rating in a research report on Wednesday, July 24th. Argus raised their target price on shares of Alphabet from $200.00 to $215.00 and gave the company a "buy" rating in a report on Tuesday, July 16th. Finally, Roth Mkm reissued a "buy" rating and issued a $206.00 target price on shares of Alphabet in a report on Thursday, August 29th. Six research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $203.17.
Check Out Our Latest Research Report on GOOGL
Alphabet Profile
(
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.
Featured Articles
Before you consider Alphabet, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Alphabet wasn't on the list.
While Alphabet currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
