Hardman Johnston Global Advisors LLC Has $7.15 Million Position in Alphabet Inc. (NASDAQ:GOOG)

Hardman Johnston Global Advisors LLC cut its stake in Alphabet Inc. (NASDAQ:GOOG) by 19.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 42,760 shares of the information services provider’s stock after selling 10,150 shares during the quarter. Hardman Johnston Global Advisors LLC’s holdings in Alphabet were worth $7,149,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. China Universal Asset Management Co. Ltd. boosted its holdings in Alphabet by 360.1% in the first quarter. China Universal Asset Management Co. Ltd. now owns 20,249 shares of the information services provider’s stock worth $3,083,000 after purchasing an additional 15,848 shares in the last quarter. Quent Capital LLC boosted its stake in shares of Alphabet by 5.8% during the 1st quarter. Quent Capital LLC now owns 32,706 shares of the information services provider’s stock worth $4,980,000 after acquiring an additional 1,798 shares in the last quarter. Integrity Financial Corp WA increased its holdings in shares of Alphabet by 25.7% during the 1st quarter. Integrity Financial Corp WA now owns 8,798 shares of the information services provider’s stock valued at $1,340,000 after acquiring an additional 1,801 shares during the last quarter. Whittier Trust Co. raised its stake in shares of Alphabet by 1.1% in the 1st quarter. Whittier Trust Co. now owns 1,328,314 shares of the information services provider’s stock valued at $202,249,000 after acquiring an additional 14,519 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. lifted its holdings in Alphabet by 3.0% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 595,799 shares of the information services provider’s stock worth $90,716,000 after purchasing an additional 17,619 shares during the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Stock Up 4.0 %

GOOG opened at $178.33 on Thursday. Alphabet Inc. has a fifty-two week low of $129.40 and a fifty-two week high of $193.31. The company has a market capitalization of $2.20 trillion, a P/E ratio of 23.65, a P/E/G ratio of 1.20 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The firm’s fifty day moving average price is $164.24 and its two-hundred day moving average price is $170.89.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The company had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $86.39 billion. During the same period in the previous year, the business earned $1.55 earnings per share. The company’s quarterly revenue was up 15.1% on a year-over-year basis. On average, analysts anticipate that Alphabet Inc. will post 7.97 EPS for the current year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is 10.61%.

Insiders Place Their Bets

In other 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 value of $5,570,188.20. Following the sale, the senior vice president now owns 312,210 shares in the company, valued at approximately $50,765,346. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director John L. Hennessy sold 800 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $163.03, for a total transaction of $130,424.00. Following the completion of the sale, the director now directly owns 30,024 shares of the company’s stock, valued at $4,894,812.72. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Prabhakar Raghavan sold 34,257 shares of Alphabet stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $162.60, for a total value of $5,570,188.20. Following the completion of the transaction, the senior vice president now owns 312,210 shares of the company’s stock, valued at approximately $50,765,346. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 232,052 shares of company stock worth $38,424,448 over the last three months. 12.99% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on GOOG shares. UBS Group increased their price target on Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Wolfe Research upgraded shares of Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. Citigroup lifted their target price on shares of Alphabet from $212.00 to $216.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Canaccord Genuity Group upped their price target on shares of Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, Cantor Fitzgerald raised Alphabet to a “hold” rating in a research report on Thursday, September 5th. Five investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and a consensus target price of $200.56.

Alphabet Company Profile

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.