Alphabet Inc. $GOOG Holdings Trimmed by Hoertkorn Richard Charles

Hoertkorn Richard Charles trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 8.9% during the 2nd quarter, HoldingsChannel reports. The firm owned 3,425 shares of the information services provider’s stock after selling 334 shares during the quarter. Hoertkorn Richard Charles’ holdings in Alphabet were worth $608,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. JDM Financial Group LLC grew its position in Alphabet by 10.6% during the 4th quarter. JDM Financial Group LLC now owns 593 shares of the information services provider’s stock worth $113,000 after purchasing an additional 57 shares in the last quarter. NCM Capital Management LLC grew its position in Alphabet by 2.2% during the 1st quarter. NCM Capital Management LLC now owns 2,802 shares of the information services provider’s stock worth $438,000 after purchasing an additional 60 shares in the last quarter. Faithward Advisors LLC grew its position in Alphabet by 2.5% during the 1st quarter. Faithward Advisors LLC now owns 2,505 shares of the information services provider’s stock worth $391,000 after purchasing an additional 61 shares in the last quarter. Objectivity Squared LLC grew its position in Alphabet by 0.4% during the 1st quarter. Objectivity Squared LLC now owns 16,342 shares of the information services provider’s stock worth $2,605,000 after purchasing an additional 62 shares in the last quarter. Finally, Tranquility Partners LLC grew its position in Alphabet by 0.4% during the 1st quarter. Tranquility Partners LLC now owns 14,488 shares of the information services provider’s stock worth $2,263,000 after purchasing an additional 63 shares in the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GOOG has been the topic of several research analyst reports. Citizens Jmp upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a report on Thursday, June 26th. Piper Sandler restated a “neutral” rating on shares of Alphabet in a report on Wednesday, July 9th. Oppenheimer restated an “outperform” rating and set a $270.00 price target (up from $235.00) on shares of Alphabet in a report on Wednesday, September 3rd. Lake Street Capital restated a “buy” rating on shares of Alphabet in a report on Wednesday, July 9th. Finally, Raymond James Financial restated an “outperform” rating and set a $210.00 price target (up from $185.00) on shares of Alphabet in a report on Thursday, July 24th. Four equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $227.56.

Alphabet Trading Up 0.2%

Shares of NASDAQ:GOOG opened at $241.38 on Monday. The stock has a market capitalization of $2.92 trillion, a PE ratio of 25.71, a P/E/G ratio of 1.62 and a beta of 1.01. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $242.57. The firm has a fifty day moving average price of $202.67 and a 200 day moving average price of $178.92. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.12 by $0.19. The firm had revenue of $96.43 billion during the quarter, compared to analysts’ expectations of $93.67 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. Alphabet’s revenue for the quarter was up 13.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.89 earnings per share. Analysts expect that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be issued a $0.21 dividend. The ex-dividend date is Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. Alphabet’s dividend payout ratio is currently 8.95%.

Insider Buying and Selling at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $229.73, for a total transaction of $7,466,225.00. Following the completion of the transaction, the chief executive officer owned 2,429,892 shares of the company’s stock, valued at $558,219,089.16. The trade was a 1.32% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kavitark Ram Shriram sold 15,000 shares of the business’s stock in a transaction on Friday, July 18th. The stock was sold at an average price of $185.76, for a total transaction of $2,786,400.00. Following the transaction, the director directly owned 240,400 shares of the company’s stock, valued at approximately $44,656,704. This represents a 5.87% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 254,710 shares of company stock valued at $49,208,380. Company insiders own 12.99% of the company’s stock.

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.