Alphabet Inc. (NASDAQ:GOOG) is Nelson Capital Management LLC’s 8th Largest Position

Nelson Capital Management LLC reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 89,083 shares of the information services provider’s stock after selling 1,593 shares during the quarter. Alphabet makes up 2.9% of Nelson Capital Management LLC’s holdings, making the stock its 8th largest position. Nelson Capital Management LLC’s holdings in Alphabet were worth $16,340,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in GOOG. Capital International Investors raised its stake in Alphabet by 9.3% in the first quarter. Capital International Investors now owns 87,716,562 shares of the information services provider’s stock valued at $13,355,724,000 after buying an additional 7,470,042 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Alphabet by 19.7% in the first quarter. JPMorgan Chase & Co. now owns 84,171,721 shares of the information services provider’s stock valued at $12,815,986,000 after buying an additional 13,876,534 shares during the last quarter. Capital World Investors raised its stake in Alphabet by 2.2% in the first quarter. Capital World Investors now owns 45,731,826 shares of the information services provider’s stock valued at $6,963,128,000 after buying an additional 979,083 shares during the last quarter. Capital Research Global Investors raised its stake in Alphabet by 2.0% in the first quarter. Capital Research Global Investors now owns 35,558,778 shares of the information services provider’s stock valued at $5,414,179,000 after buying an additional 684,968 shares during the last quarter. Finally, Norges Bank purchased a new stake in Alphabet in the fourth quarter valued at about $4,101,040,000. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. TD Cowen increased their price objective on Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Oppenheimer increased their price objective on Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Rosenblatt Securities lowered Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective on the stock. in a report on Friday, June 28th. Cantor Fitzgerald raised Alphabet to a “hold” rating in a report on Thursday, September 5th. Finally, DA Davidson raised Alphabet to a “hold” rating in a report on Tuesday. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and an average price target of $182.86.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $183.47, for a total value of $125,126.54. Following the sale, the chief accounting officer now directly owns 30,650 shares of the company’s stock, valued at $5,623,355.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $158.68, for a total value of $3,570,300.00. Following the transaction, the chief executive officer now owns 2,137,385 shares in the company, valued at $339,160,251.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the firm’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 transaction, the chief accounting officer now owns 30,650 shares in the company, valued at approximately $5,623,355.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 201,867 shares of company stock valued at $34,218,581. Company insiders own 12.99% of the company’s stock.

Alphabet Stock Up 1.8 %

Alphabet stock opened at $158.37 on Friday. The firm has a market cap of $1.95 trillion, a price-to-earnings ratio of 24.29, a price-to-earnings-growth ratio of 1.13 and a beta of 1.04. Alphabet Inc. has a 52 week low of $121.46 and a 52 week high of $193.31. The business’s 50-day moving average price is $169.06 and its 200 day moving average price is $165.96. 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 posted its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, topping the consensus estimate of $1.85 by $0.04. The firm had revenue of $84.74 billion for the quarter, compared to analyst estimates of $84.22 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. Alphabet’s revenue for the quarter was up 13.6% compared to the same quarter last year. During the same period last year, the company earned $1.44 earnings per share. As a group, sell-side analysts anticipate that Alphabet Inc. will post 7.63 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, September 9th will be issued 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 payout ratio is currently 12.27%.

Alphabet 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.