Alphabet Inc. (NASDAQ:GOOG) Stock Holdings Lessened by Buckingham Capital Management Inc.

Buckingham Capital Management Inc. cut its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.9% in the 2nd quarter, Holdings Channel reports. The fund owned 128,199 shares of the information services provider’s stock after selling 2,523 shares during the quarter. Alphabet accounts for approximately 2.8% of Buckingham Capital Management Inc.’s portfolio, making the stock its 9th biggest position. Buckingham Capital Management Inc.’s holdings in Alphabet were worth $23,514,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Twelve Points Wealth Management LLC boosted its position in Alphabet by 0.7% during the 2nd quarter. Twelve Points Wealth Management LLC now owns 7,985 shares of the information services provider’s stock worth $1,465,000 after acquiring an additional 55 shares during the period. PCG Wealth Advisors LLC lifted its position in shares of Alphabet by 3.1% in the second quarter. PCG Wealth Advisors LLC now owns 1,880 shares of the information services provider’s stock worth $345,000 after purchasing an additional 57 shares in the last quarter. Mark Sheptoff Financial Planning LLC boosted its holdings in shares of Alphabet by 11.1% during the first quarter. Mark Sheptoff Financial Planning LLC now owns 600 shares of the information services provider’s stock worth $91,000 after purchasing an additional 60 shares during the period. Shira Ridge Wealth Management grew its position in Alphabet by 0.4% during the second quarter. Shira Ridge Wealth Management now owns 15,490 shares of the information services provider’s stock valued at $2,841,000 after purchasing an additional 60 shares in the last quarter. Finally, Strait & Sound Wealth Management LLC increased its stake in Alphabet by 2.2% in the 1st quarter. Strait & Sound Wealth Management LLC now owns 2,898 shares of the information services provider’s stock valued at $466,000 after buying an additional 61 shares during the period. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Stock Up 1.3 %

Shares of NASDAQ:GOOG traded up $2.21 on Tuesday, reaching $166.16. The company had a trading volume of 6,169,186 shares, compared to its average volume of 20,463,457. The stock has a market capitalization of $2.05 trillion, a P/E ratio of 25.34, a P/E/G ratio of 1.28 and a beta of 1.05. The stock has a 50-day moving average price of $178.39 and a 200 day moving average price of $163.59. Alphabet Inc. has a twelve month low of $121.46 and a twelve month high of $193.31. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. The business had revenue of $84.74 billion for the quarter, compared to the consensus estimate of $84.22 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The firm’s revenue was up 13.6% compared to the same quarter last year. During the same period last year, the business earned $1.44 EPS. On average, equities analysts expect that Alphabet Inc. will post 7.62 EPS for the current year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 9th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date is Monday, September 9th. Alphabet’s payout ratio is 12.27%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on GOOG. TD Cowen lifted their target price on shares of Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Stifel Nicolaus lifted their price objective on Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Rosenblatt Securities lowered Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price on the stock. in a research report on Friday, June 28th. Wolfe Research raised Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. Finally, Oppenheimer boosted their price target on Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $182.86.

Insider Buying and Selling

In other news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $173.22, for a total value of $3,897,450.00. Following the sale, the chief executive officer now directly owns 2,258,011 shares of the company’s stock, valued at $391,132,665.42. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $173.86, for a total transaction of $118,572.52. Following the completion of the transaction, the chief accounting officer now directly owns 29,966 shares in the company, valued at $5,209,888.76. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $173.22, for a total value of $3,897,450.00. Following the completion of the sale, the chief executive officer now directly owns 2,258,011 shares of the company’s stock, valued at $391,132,665.42. The disclosure for this sale can be found here. In the last three months, insiders sold 144,108 shares of company stock valued at $25,464,954. Company insiders own 12.99% of the company’s stock.

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.