Alphabet Inc. (NASDAQ:GOOG) Position Cut by M. Kraus & Co

M. Kraus & Co decreased its position in Alphabet Inc. (NASDAQ:GOOG) by 1.2% during the third quarter, Holdings Channel reports. The firm owned 105,242 shares of the information services provider’s stock after selling 1,277 shares during the quarter. Alphabet comprises 5.2% of M. Kraus & Co’s portfolio, making the stock its 4th largest holding. M. Kraus & Co’s holdings in Alphabet were worth $17,595,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GOOG. Capital International Investors increased its position in shares of Alphabet by 9.3% during the first quarter. Capital International Investors now owns 87,716,562 shares of the information services provider’s stock worth $13,355,724,000 after acquiring an additional 7,470,042 shares during the period. JPMorgan Chase & Co. increased its holdings 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 boosted its stake in shares of Alphabet by 2.2% during the first quarter. Capital World Investors now owns 45,731,826 shares of the information services provider’s stock worth $6,963,128,000 after buying an additional 979,083 shares during the period. Capital Research Global Investors boosted its stake in shares of Alphabet by 2.0% during the first quarter. Capital Research Global Investors now owns 35,558,778 shares of the information services provider’s stock worth $5,414,179,000 after buying an additional 684,968 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in Alphabet by 4.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 14,657,421 shares of the information services provider’s stock valued at $2,688,743,000 after acquiring an additional 636,008 shares during the period. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Price Performance

Shares of Alphabet stock traded up $1.88 on Monday, hitting $166.40. The company’s stock had a trading volume of 4,853,729 shares, compared to its average volume of 19,717,080. The firm has a fifty day moving average price of $162.81 and a 200-day moving average price of $169.37. Alphabet Inc. has a 52-week low of $121.46 and a 52-week high of $193.31. The company has a market capitalization of $2.06 trillion, a P/E ratio of 25.59, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04. 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 announced its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The firm had revenue of $84.74 billion during the quarter, compared to the consensus estimate of $84.22 billion. During the same quarter in the previous year, the company posted $1.44 EPS. The firm’s revenue for the quarter was up 13.6% on a year-over-year basis. On average, equities research analysts expect that Alphabet Inc. will post 7.64 earnings per share for the current fiscal year.

Alphabet Announces Dividend

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

Insider Activity

In other news, SVP Prabhakar Raghavan sold 34,257 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $162.60, for a total transaction 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 $50,765,346. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, CAO Amie Thuener O’toole sold 1,367 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $168.84, for a total transaction of $230,804.28. Following the completion of the sale, the chief accounting officer now owns 29,183 shares in the company, valued at approximately $4,927,257.72. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Prabhakar Raghavan sold 34,257 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was 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 of the company’s stock, valued at $50,765,346. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 216,092 shares of company stock valued at $35,644,136 in the last 90 days. 12.99% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. TD Cowen lifted their price objective on shares of Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Scotiabank assumed coverage on shares of Alphabet in a research report on Friday. They issued a “sector outperform” rating and a $212.00 price objective on the stock. DA Davidson upgraded shares of Alphabet to a “hold” rating in a research report on Tuesday, September 10th. Rosenblatt Securities lowered shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective on the stock. in a research report on Friday, June 28th. Finally, Oppenheimer decreased their target price on shares of Alphabet from $210.00 to $185.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 25th. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $186.90.

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.