S&CO Inc. Has $21.18 Million Stock Position in Alphabet Inc. $GOOG

S&CO Inc. lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.2% during the second quarter, Holdings Channel.com reports. The firm owned 119,412 shares of the information services provider’s stock after selling 1,390 shares during the period. Alphabet accounts for about 1.4% of S&CO Inc.’s portfolio, making the stock its 18th biggest position. S&CO Inc.’s holdings in Alphabet were worth $21,182,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Alphabet by 2.4% during the first quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider’s stock valued at $64,299,725,000 after acquiring an additional 9,687,855 shares in the last quarter. Kingstone Capital Partners Texas LLC grew its position in Alphabet by 580,897.4% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider’s stock valued at $23,963,208,000 after purchasing an additional 135,064,454 shares during the period. JPMorgan Chase & Co. grew its position in Alphabet by 9.9% in the 1st quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider’s stock valued at $15,971,861,000 after purchasing an additional 9,243,959 shares during the period. Deutsche Bank AG increased its stake in Alphabet by 5.4% during the 1st quarter. Deutsche Bank AG now owns 21,345,784 shares of the information services provider’s stock valued at $3,334,852,000 after purchasing an additional 1,098,996 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in Alphabet by 2.2% during the first quarter. Invesco Ltd. now owns 20,380,073 shares of the information services provider’s stock worth $3,183,979,000 after buying an additional 440,526 shares during the last quarter. 27.26% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Alphabet news, insider John Kent Walker sold 17,816 shares of the business’s stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $247.42, for a total value of $4,408,034.72. Following the transaction, the insider directly owned 42,985 shares in the company, valued at $10,635,348.70. The trade was a 29.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 2,778 shares of the firm’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $245.00, for a total transaction of $680,610.00. Following the sale, the chief accounting officer owned 17,293 shares of the company’s stock, valued at approximately $4,236,785. The trade was a 13.84% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 221,796 shares of company stock valued at $53,983,001. 12.99% of the stock is owned by insiders.

Analyst Ratings Changes

GOOG has been the subject of a number of analyst reports. Piper Sandler lifted their price objective on shares of Alphabet from $285.00 to $330.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. JPMorgan Chase & Co. raised their price target on shares of Alphabet from $260.00 to $300.00 and gave the company an “overweight” rating in a research report on Monday, October 27th. Phillip Securities lowered Alphabet from a “strong-buy” rating to a “moderate buy” rating in a report on Monday, September 8th. Canaccord Genuity Group reissued a “buy” rating and issued a $330.00 price objective on shares of Alphabet in a research note on Thursday, October 30th. Finally, Bank of America lifted their target price on Alphabet from $280.00 to $335.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. Five equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, four have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $324.81.

Alphabet Trading Up 0.4%

NASDAQ:GOOG opened at $291.74 on Wednesday. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $292.34. The firm has a 50-day moving average price of $254.94 and a two-hundred day moving average price of $207.64. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The firm has a market cap of $3.53 trillion, a price-to-earnings ratio of 28.77, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last released its earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.29 by $0.58. The company had revenue of $102.35 billion during the quarter, compared to analyst estimates of $99.90 billion. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.Alphabet’s quarterly revenue was up 15.9% on a year-over-year basis. During the same period in the prior year, the company posted $2.12 earnings per share. On average, equities analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 8th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, December 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is currently 8.28%.

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.