DCM Advisors LLC Lowers Position in Alphabet Inc. $GOOG

DCM Advisors LLC lessened its stake in Alphabet Inc. (NASDAQ:GOOG) by 5.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,198 shares of the information services provider’s stock after selling 862 shares during the period. Alphabet comprises approximately 1.2% of DCM Advisors LLC’s investment portfolio, making the stock its 28th largest holding. DCM Advisors LLC’s holdings in Alphabet were worth $2,190,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of GOOG. Nuveen LLC purchased a new position in shares of Alphabet during the 1st quarter valued at approximately $2,622,943,000. GAMMA Investing LLC lifted its position in shares of Alphabet by 18,562.3% during the 1st quarter. GAMMA Investing LLC now owns 14,323,323 shares of the information services provider’s stock valued at $2,237,733,000 after buying an additional 14,246,573 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Alphabet by 2.4% during the 1st 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. lifted its position in shares of Alphabet by 9.9% during 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 buying an additional 9,243,959 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Alphabet during the 4th quarter valued at approximately $786,942,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Stock Down 0.4%

Shares of GOOG opened at $234.16 on Tuesday. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $238.40. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The stock has a fifty day simple moving average of $197.78 and a two-hundred day simple moving average of $177.12. The company has a market capitalization of $2.83 trillion, a PE ratio of 24.94, a price-to-earnings-growth ratio of 1.58 and a beta of 1.01.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping 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 for the quarter, compared to analyst estimates of $93.67 billion. During the same quarter in the previous year, the firm earned $1.89 EPS. The company’s quarterly revenue was up 13.8% compared to the same quarter last year. As a group, equities analysts forecast that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on GOOG shares. Scotiabank increased their target price on Alphabet from $200.00 to $240.00 and gave the company a “sector outperform” rating in a research report on Tuesday, July 22nd. Lake Street Capital reiterated a “buy” rating on shares of Alphabet in a research report on Wednesday, July 9th. BNP Paribas lowered Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, June 26th. JPMorgan Chase & Co. increased their price objective on Alphabet from $232.00 to $260.00 and gave the company an “overweight” rating in a research note on Wednesday, September 3rd. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $220.00 price objective on shares of Alphabet in a report on Monday, June 2nd. Four investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, six have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $227.56.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $199.92, for a total transaction of $6,497,400.00. Following the completion of the sale, the chief executive officer directly owned 2,462,392 shares of the company’s stock, valued at approximately $492,281,408.64. This trade represents a 1.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John L. Hennessy sold 1,000 shares of the business’s stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $200.00, for a total transaction of $200,000.00. Following the completion of the sale, the director owned 6,916 shares in the company, valued at approximately $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. Insiders have sold 254,710 shares of company stock worth $49,208,380 in the last quarter. 12.99% of the stock is currently owned by 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.