Alphabet Inc. $GOOG Shares Sold by Cim LLC

Cim LLC lowered its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.9% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 7,302 shares of the information services provider’s stock after selling 143 shares during the quarter. Cim LLC’s holdings in Alphabet were worth $1,141,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in 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 buying an additional 9,687,855 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Alphabet by 9.9% during the first quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider’s stock valued at $15,971,861,000 after buying an additional 9,243,959 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Alphabet by 2.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 34,103,417 shares of the information services provider’s stock valued at $6,494,655,000 after buying an additional 769,335 shares in the last quarter. Deutsche Bank AG raised its stake in Alphabet by 5.4% during the first quarter. Deutsche Bank AG now owns 21,345,784 shares of the information services provider’s stock valued at $3,334,852,000 after buying an additional 1,098,996 shares in the last quarter. Finally, Invesco Ltd. raised its stake in Alphabet by 2.2% during the first quarter. Invesco Ltd. now owns 20,380,073 shares of the information services provider’s stock valued at $3,183,979,000 after buying an additional 440,526 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Stock Performance

Shares of GOOG stock opened at $240.78 on Friday. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $242.57. The firm has a market capitalization of $2.91 trillion, a price-to-earnings ratio of 25.64, a price-to-earnings-growth ratio of 1.61 and a beta of 1.01. The business has a 50 day simple moving average of $201.45 and a 200 day simple moving average of $178.39. 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 (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. 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 period in the prior year, the company posted $1.89 EPS. The business’s revenue for the quarter was up 13.8% compared to the same quarter last year. On average, equities research analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current 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. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet’s dividend payout ratio is 8.95%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on GOOG shares. BNP Paribas lowered Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, June 26th. Lake Street Capital reaffirmed a “buy” rating on shares of Alphabet in a report on Wednesday, July 9th. Raymond James Financial reaffirmed an “outperform” rating and set a $210.00 target price (up from $185.00) on shares of Alphabet in a report on Thursday, July 24th. KeyCorp set a $265.00 target price on Alphabet in a report on Wednesday, September 3rd. Finally, UBS Group upped their target price on Alphabet from $186.00 to $192.00 and gave the company a “neutral” rating in a report on Wednesday, July 16th. Four equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, five have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and an average price target of $227.56.

Insiders Place Their Bets

In related news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $199.92, for a total value of $6,497,400.00. Following the completion of the transaction, the chief executive officer directly owned 2,462,392 shares of the company’s stock, valued at $492,281,408.64. This represents a 1.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director John L. Hennessy sold 1,000 shares of the stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $200.00, for a total value of $200,000.00. Following the completion of the transaction, the director directly owned 6,916 shares of the company’s stock, valued at $1,383,200. This trade represents a 12.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 254,710 shares of company stock valued at $49,208,380. 12.99% of the stock is owned by corporate 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.