Alphabet Inc. $GOOG Stock Position Lowered by Hager Investment Management Services LLC

Hager Investment Management Services LLC lessened its position in Alphabet Inc. (NASDAQ:GOOG) by 1.8% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,051 shares of the information services provider’s stock after selling 55 shares during the quarter. Hager Investment Management Services LLC’s holdings in Alphabet were worth $541,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. RDA Financial Network increased its stake in Alphabet by 5.3% in the 2nd quarter. RDA Financial Network now owns 11,094 shares of the information services provider’s stock valued at $1,968,000 after buying an additional 554 shares during the period. Tower View Wealth Management LLC increased its stake in shares of Alphabet by 6.9% during the 2nd quarter. Tower View Wealth Management LLC now owns 27,644 shares of the information services provider’s stock worth $4,904,000 after purchasing an additional 1,776 shares during the last quarter. Oldfather Financial Services LLC acquired a new position in shares of Alphabet during the 2nd quarter worth $213,000. Truist Financial Corp increased its stake in shares of Alphabet by 0.4% during the 2nd quarter. Truist Financial Corp now owns 3,626,927 shares of the information services provider’s stock worth $643,381,000 after purchasing an additional 15,065 shares during the last quarter. Finally, GC Wealth Management RIA LLC increased its stake in shares of Alphabet by 115.7% during the 2nd quarter. GC Wealth Management RIA LLC now owns 214,392 shares of the information services provider’s stock worth $38,031,000 after purchasing an additional 115,003 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Analyst Upgrades and Downgrades

GOOG has been the topic of several analyst reports. Pivotal Research increased their price target on shares of Alphabet from $245.00 to $300.00 and gave the stock a “buy” rating in a research note on Wednesday, September 3rd. Phillip Securities lowered shares of Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research note on Monday, September 8th. JPMorgan Chase & Co. increased their price target on shares of Alphabet from $232.00 to $260.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 3rd. BNP Paribas lowered shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, June 26th. Finally, Wells Fargo & Company reiterated an “equal weight” rating on shares of Alphabet in a research note on Wednesday, July 9th. Six equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have given a Hold rating and three have issued a Sell 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 $241.00.

Insider Transactions at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $243.41, for a total value of $7,910,825.00. Following the completion of the sale, the chief executive officer directly owned 2,402,119 shares of the company’s stock, valued at $584,699,785.79. This represents a 1.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider John Kent Walker sold 17,816 shares of the firm’s stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the transaction, the insider directly owned 42,985 shares of the company’s stock, valued at $10,635,348.70. The trade was a 29.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 276,738 shares of company stock worth $59,135,475. 12.99% of the stock is currently owned by insiders.

Alphabet Price Performance

Shares of Alphabet stock opened at $237.49 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $256.70. The firm has a fifty day moving average price of $226.97 and a two-hundred day moving average price of $189.81. The company has a market cap of $2.87 trillion, a PE ratio of 25.29, a price-to-earnings-growth ratio of 1.60 and a beta of 1.00.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $93.67 billion. During the same period in the prior year, the firm earned $1.89 EPS. The business’s revenue was up 13.8% on a year-over-year basis. Analysts expect that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were issued a $0.21 dividend. The ex-dividend date of this dividend was Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.4%. Alphabet’s dividend payout ratio is 8.95%.

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.