Alphabet Inc. $GOOG is Schwerin Boyle Capital Management Inc.’s 5th Largest Position

Schwerin Boyle Capital Management Inc. trimmed its position in Alphabet Inc. (NASDAQ:GOOG) by 0.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 259,235 shares of the information services provider’s stock after selling 2,120 shares during the quarter. Alphabet accounts for approximately 4.2% of Schwerin Boyle Capital Management Inc.’s portfolio, making the stock its 5th largest holding. Schwerin Boyle Capital Management Inc.’s holdings in Alphabet were worth $40,500,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of GOOG. Virtus Advisers LLC acquired a new stake in shares of Alphabet during the first quarter valued at about $180,000. NCM Capital Management LLC raised its position in shares of Alphabet by 2.2% in the 1st quarter. NCM Capital Management LLC now owns 2,802 shares of the information services provider’s stock valued at $438,000 after purchasing an additional 60 shares in the last quarter. Full Sail Capital LLC boosted its stake in shares of Alphabet by 4.2% during the 1st quarter. Full Sail Capital LLC now owns 2,698 shares of the information services provider’s stock valued at $422,000 after buying an additional 109 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its stake in shares of Alphabet by 3.2% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 53,125 shares of the information services provider’s stock worth $8,300,000 after buying an additional 1,642 shares during the last quarter. Finally, Anson Funds Management LP bought a new position in Alphabet during the 1st quarter valued at $1,562,000. 27.26% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on GOOG. Lake Street Capital reissued a “buy” rating on shares of Alphabet in a report on Wednesday, July 9th. Citizens Jmp raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a report on Thursday, June 26th. Tigress Financial reiterated a “strong-buy” rating on shares of Alphabet in a research note on Friday, May 2nd. UBS Group lifted their target price on Alphabet from $186.00 to $192.00 and gave the company a “neutral” rating in a research note on Wednesday, July 16th. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $220.00 price target on shares of Alphabet in a report on Monday, June 2nd. Five equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, six have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $215.19.

Alphabet Stock Up 3.0%

GOOG stock opened at $206.72 on Monday. The firm’s 50-day moving average is $187.71 and its two-hundred day moving average is $174.60. The company has a market capitalization of $2.50 trillion, a price-to-earnings ratio of 22.01, a price-to-earnings-growth ratio of 1.39 and a beta of 1.02. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $209.23. 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 announced its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.19. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The business had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.67 billion. During the same quarter in the prior year, the firm posted $1.89 earnings per share. The company’s revenue was up 13.8% on a year-over-year basis. On average, analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet’s payout ratio is 8.95%.

Insiders Place Their Bets

In other Alphabet news, insider John Kent Walker sold 23,820 shares of Alphabet stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $194.70, for a total value of $4,637,754.00. Following the completion of the sale, the insider directly owned 42,999 shares in the company, valued at $8,371,905.30. The trade was a 35.65% 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, Director Kavitark Ram Shriram sold 15,000 shares of the company’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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 254,719 shares of company stock worth $47,223,172 over the last three months. Company insiders own 12.99% of the company’s stock.

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.