Alphabet Inc. (NASDAQ:GOOGL) Shares holding was cut by Hoylecohen LLC

Hoylecohen LLC reduced its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 7.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 192,455 shares of the information services provider’s stock after selling 15,732 shares during the quarter. Alphabet comprises approximately 2.7% of Hoylecohen LLC’s investment portfolio, making the stock its 4th largest position. Hoylecohen LLC’s holdings in Alphabet were worth $35,056,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Tributary Capital Management LLC bought a new position in Alphabet in the first quarter valued at $30,000. Vermillion & White Wealth Management Group LLC bought a new position in Alphabet in the fourth quarter valued at $30,000. DiNuzzo Private Wealth Inc. bought a new position in Alphabet in the fourth quarter valued at $38,000. CarsonAllaria Wealth Management Ltd. raised its position in Alphabet by 59.2% in the first quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock valued at $44,000 after acquiring an additional 109 shares in the last quarter. Finally, Richardson Capital Management LLC raised its position in Alphabet by 87.5% in the first quarter. Richardson Capital Management LLC now owns 300 shares of the information services provider’s stock valued at $45,000 after acquiring an additional 140 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s shares.

Analyst upgrades and downgrades

A number of research analysts have weighed in on the stock. Wedbush reiterated an “outperform” rating and set a $205.00 price objective on shares of Alphabet in a research report on Monday, July 22nd. Wolfe Research initiated coverage on shares of Alphabet in a research report on Tuesday, July 16th. They set an “outperform” rating and a $240.00 price objective on the stock. Royal Bank of Canada upped their target price on shares of Alphabet from $200.00 to $204.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Barclays boosted their target price on shares of Alphabet from $173.00 to $200.00 and gave the stock an “overweight” rating in a report on Friday, April 26th. Finally, Tigress Financial boosted their target price on shares of Alphabet from $176.00 to $210.00 and gave the stock a “strong-buy” rating in a report on Friday, May 24th. Six equities research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $203.74.

Check out our latest research report on GOOGL

Insider activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $173.86, for a total value of $118,572.52. Following the transaction, the chief accounting officer now owns 29,966 shares in the company, valued at approximately $5,209,888.76. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $173.86, for a total value of $118,572.52. Following the transaction, the chief accounting officer now owns 29,966 shares in the company, valued at approximately $5,209,888.76. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $176.58, for a total transaction of $3,973,050.00. Following the completion of the transaction, the chief executive officer now owns 2,235,511 shares in the company, valued at approximately $394,746,532.38. The disclosure for this sale can be found here. Insiders have sold 156,565 shares of company stock worth $26,823,893 over the last three months. 11.55% of shares are owned by insiders.

Alphabet stock performance

Shares of Alphabet opened at $165.62 on Friday. The firm has a market cap of $2.05 trillion, a P/E ratio of 25.40, a PEG ratio of 1.28 and a beta of 1.05. The company has a quick ratio of 2.08, a current ratio of 2.08, and a debt-to-equity ratio of 0.04. The company has a 50-day moving average price of $174.73 and a 200-day moving average price of $163.04. Alphabet Inc. it has a 52-week low of $120.21 and a 52-week high of $191.75.

Alphabet (NASDAQ:GOOGL – Get Free Report ) last announced its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, topping the consensus estimate of $1.85 by $0.04. The firm had revenue of $84.74 billion during the quarter, compared to analyst estimates of $70.60 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same period last year, the firm posted EPS of $1.44. Sell-side analysts expect Alphabet Inc. to post 7.62 EPS for the current year.

Alphabetical announcement of dividends

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 9th will be given a $0.20 dividend. This represents an annualized dividend of $0.80 and a dividend yield of 0.48%. The ex-dividend date is Monday, September 9. Alphabet’s payout ratio is currently 12.27%.

Profile of the alphabet

(Free report)

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, Asia-Pacific, Canada and Latin America. It works through Google services, Google Cloud and other betting segments. The Google Services segment offers products and services, including advertising, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search and YouTube.

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