Alphabet Inc. $GOOG Stock Holdings Lowered by Timucuan Asset Management Inc. FL

Timucuan Asset Management Inc. FL reduced its holdings in Alphabet Inc. (NASDAQ:GOOG) by 0.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 792,054 shares of the information services provider’s stock after selling 6,787 shares during the quarter. Alphabet accounts for 3.8% of Timucuan Asset Management Inc. FL’s holdings, making the stock its 12th biggest position. Timucuan Asset Management Inc. FL’s holdings in Alphabet were worth $123,743,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. JDM Financial Group LLC increased its position in shares of Alphabet by 10.6% in the fourth quarter. JDM Financial Group LLC now owns 593 shares of the information services provider’s stock worth $113,000 after acquiring an additional 57 shares in the last quarter. NCM Capital Management LLC increased its position in shares of Alphabet by 2.2% in the first quarter. NCM Capital Management LLC now owns 2,802 shares of the information services provider’s stock worth $438,000 after acquiring an additional 60 shares in the last quarter. Objectivity Squared LLC increased its position in shares of Alphabet by 0.4% in the first quarter. Objectivity Squared LLC now owns 16,342 shares of the information services provider’s stock worth $2,605,000 after acquiring an additional 62 shares in the last quarter. Tranquility Partners LLC increased its position in shares of Alphabet by 0.4% in the first quarter. Tranquility Partners LLC now owns 14,488 shares of the information services provider’s stock worth $2,263,000 after acquiring an additional 63 shares in the last quarter. Finally, Stonebridge Financial Group LLC increased its position in shares of Alphabet by 0.6% in the first quarter. Stonebridge Financial Group LLC now owns 10,648 shares of the information services provider’s stock worth $1,664,000 after acquiring an additional 64 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors.

Insider Activity at Alphabet

In related news, Director Kavitark Ram Shriram sold 18,566 shares of the company’s stock in a transaction on Friday, July 18th. The shares were sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the completion of the transaction, the director directly owned 243,400 shares in the company, valued at $45,213,984. This represents a 7.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $178.52, for a total transaction of $5,801,900.00. Following the completion of the transaction, the chief executive officer owned 2,559,892 shares of the company’s stock, valued at approximately $456,991,919.84. This represents a 1.25% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 254,719 shares of company stock valued at $47,223,172 in the last 90 days. 12.99% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Susquehanna reaffirmed a “positive” rating on shares of Alphabet in a research report on Friday, May 2nd. Scotiabank boosted their price objective on shares of Alphabet from $200.00 to $240.00 and gave the company a “sector outperform” rating in a research report on Tuesday, July 22nd. Barclays reaffirmed a “buy” rating on shares of Alphabet in a research report on Wednesday, July 9th. Lake Street Capital reaffirmed a “buy” rating on shares of Alphabet in a research report on Wednesday, July 9th. Finally, Roth Capital reissued a “buy” rating on shares of Alphabet in a research report on Wednesday, July 9th. Five investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $215.19.

Alphabet Price Performance

Shares of Alphabet stock opened at $208.21 on Thursday. The firm has a fifty day simple moving average of $189.63 and a 200-day simple moving average of $175.22. 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 Inc. has a 1-year low of $142.66 and a 1-year high of $211.09. The stock has a market capitalization of $2.52 trillion, a price-to-earnings ratio of 22.17, a PEG ratio of 1.40 and a beta of 1.02.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping 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 business had revenue of $96.43 billion during the quarter, compared to analysts’ expectations of $93.67 billion. During the same period in the previous year, the company earned $1.89 earnings per share. Alphabet’s revenue for the quarter was up 13.8% on a year-over-year basis. On average, sell-side analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors 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 is Monday, September 8th. Alphabet’s dividend payout ratio is presently 8.95%.

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.