HT Partners LLC Reduces Position in Alphabet Inc. $GOOG

HT Partners LLC cut its position in Alphabet Inc. (NASDAQ:GOOG) by 1.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,924 shares of the information services provider’s stock after selling 150 shares during the period. Alphabet accounts for 0.4% of HT Partners LLC’s investment portfolio, making the stock its 24th largest holding. HT Partners LLC’s holdings in Alphabet were worth $1,406,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of GOOG. Brighton Jones LLC increased its position in shares of Alphabet by 5.6% in the 4th quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider’s stock valued at $22,901,000 after purchasing an additional 6,410 shares during the last quarter. Revisor Wealth Management LLC grew its position in shares of Alphabet by 107.9% in the 1st quarter. Revisor Wealth Management LLC now owns 3,659 shares of the information services provider’s stock valued at $572,000 after buying an additional 1,899 shares during the last quarter. Vest Financial LLC grew its position in shares of Alphabet by 73.0% in the 1st quarter. Vest Financial LLC now owns 34,978 shares of the information services provider’s stock valued at $5,465,000 after buying an additional 14,757 shares during the last quarter. Foster Group Inc. grew its position in shares of Alphabet by 4.9% in the 1st quarter. Foster Group Inc. now owns 2,160 shares of the information services provider’s stock valued at $338,000 after buying an additional 100 shares during the last quarter. Finally, Sovereign Financial Group Inc. grew its position in shares of Alphabet by 1.1% in the 1st quarter. Sovereign Financial Group Inc. now owns 58,173 shares of the information services provider’s stock valued at $9,088,000 after buying an additional 639 shares during the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Up 0.0%

Shares of NASDAQ GOOG opened at $246.45 on Friday. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $256.70. The firm has a 50-day moving average price of $221.89 and a 200 day moving average price of $187.15. The stock has a market capitalization of $2.98 trillion, a price-to-earnings ratio of 26.25, a price-to-earnings-growth ratio of 1.66 and a beta of 1.00.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating the consensus estimate of $2.12 by $0.19. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The firm had revenue of $96.43 billion during the quarter, compared to analysts’ expectations of $93.67 billion. During the same quarter last year, the business earned $1.89 earnings per share. The business’s revenue for the quarter was up 13.8% compared to the same quarter last year. Equities research analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were paid a $0.21 dividend. The ex-dividend date was Monday, September 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is 8.95%.

Analysts Set New Price Targets

A number of research firms recently commented on GOOG. Piper Sandler reaffirmed a “neutral” rating on shares of Alphabet in a research report on Wednesday, July 9th. JPMorgan Chase & Co. increased their target price on shares of Alphabet from $232.00 to $260.00 and gave the company an “overweight” rating in a research report on Wednesday, September 3rd. Morgan Stanley increased their target price on shares of Alphabet from $210.00 to $270.00 and gave the company an “overweight” rating in a research report on Thursday. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Alphabet in a research report on Wednesday, July 9th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $270.00 target price (up from $235.00) on shares of Alphabet in a research report on Wednesday, September 3rd. Five equities research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $235.33.

Insider Transactions at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 953 shares of Alphabet stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $241.20, for a total transaction of $229,863.60. Following the completion of the transaction, the chief accounting officer owned 17,294 shares in the company, valued at approximately $4,171,312.80. The trade was a 5.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $243.41, for a total transaction of $7,910,825.00. Following the transaction, the chief executive officer owned 2,402,119 shares of the company’s stock, valued at approximately $584,699,785.79. The trade was a 1.33% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 276,738 shares of company stock valued at $59,135,475. 12.99% of the stock is owned by company insiders.

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.