Epoch Investment Partners Inc. lower shares of Alphabet Inc. (NASDAQ:GOOG)

VaselineSeptember 22, 2024

0 5 minutes read

Epoch Investment Partners Inc. reduced its holdings in Alphabet Inc. (NASDAQ:GOOG – Free Report ) by 4.8% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,159,111 shares of the information services provider’s stock after selling 58,002 shares during the quarter. Alphabet makes up 1.0% of Epoch Investment Partners Inc.’s portfolio, making the stock its 17th biggest position. Holdings of Epoch Investment Partners Inc. holdings in Alphabet were worth $212,604,000 as of its most recent SEC filing.

Several other hedge funds have recently modified their holdings of GOOG. Capital International Investors boosted its stake in Alphabet by 9.3% in the first quarter. Capital International Investors now owns 87,716,562 shares of the information services provider’s stock valued at $13,355,724,000 after buying an additional 7,470,042 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Alphabet by 19.7% in the first quarter. JPMorgan Chase & Co. now owns 84,171,721 shares of the information services provider’s stock valued at $12,815,986,000 after buying an additional 13,876,534 shares during the last quarter. Capital World Investors boosted its holdings in shares of Alphabet by 2.2% in the first quarter. Capital World Investors now owns 45,731,826 shares of the information services provider’s stock worth $6,963,128,000 after buying an additional 979,083 shares in the last quarter. Capital Research Global Investors raised its stake in shares of Alphabet by 2.0% in the first quarter. Capital Research Global Investors now owns 35,558,778 shares of the information services provider’s stock worth $5,414,179,000 after buying an additional 684,968 shares during the period. Finally, Sanders Capital LLC lifted its position in Alphabet by 2.9% during the 4th quarter. Sanders Capital LLC now owns 28,558,000 shares of the information services provider’s stock valued at $4,024,679,000. after acquiring an additional 813,428 shares during the period. Hedge funds and other institutional investors own 27.26% of the company’s shares.

Insider buying and selling

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $160.63, for a total value of $3,614,175.00. Following the transaction, the chief executive officer now directly owns 2,114,885 shares of the company’s stock, valued at approximately $339,713,977.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. In related news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $160.63, for a total value of $3,614,175.00. Following the completion of the sale, the chief executive officer now owns 2,114,885 shares of the company’s stock, valued at $339,713,977.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available on the SEC’s website. Also, SVP Prabhakar Raghavan sold 3,262 shares of Alphabet stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $183.99, for a total transaction of $600,175.38. Following the transaction, the senior vice president now directly owns 9 shares of the company’s stock, valued at $1,655.91. The disclosure for this sale can be found here. Over the last three months, insiders have sold 202,667 shares of company stock worth $33,964,256. 12.99% of shares are owned by insiders.

Alphabet trading up 0.9%

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Shares of Alphabet opened at $164.64 on Friday. Alphabet Inc. has a 12-month low of $121.46 and a 12-month high of $193.31. The company’s 50-day moving average price is $166.26 and its 200-day moving average price is $167.02. The company has a current ratio of 2.08, a quick ratio of 2.08, and a debt-to-equity ratio of 0.04. The firm has a market cap of $2.03 trillion, a PE ratio of 25.25, a P/E/G ratio of 1.13 and a beta of 1.04.

Alphabet (NASDAQ:GOOG – Get Your Free Report ) last released its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The company had revenue of $84.74 billion for the quarter, compared to the consensus estimate of $84.22 billion. In the same quarter last year, the company posted earnings of $1.44 per share. The company’s quarterly revenue was up 13.6% compared to the same quarter last year. On average, sell-side analysts predict that Alphabet Inc. will post 7.63 EPS for the current fiscal year.

Alphabetical announcement of dividends

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were given a $0.20 dividend. This represents a dividend of $0.80 on an annualized basis and a dividend yield of 0.49%. The ex-dividend date of this dividend was Monday, September 9. Alphabet’s dividend payout ratio (DPR) is 12.27%.

Changes in Analyst Ratings

GOOG has been the subject of several recent research reports. DA Davidson raised shares of Alphabet to a “hold” rating in a report on Tuesday, September 10th. Oppenheimer boosted their target price on shares of Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. TD Cowen upped their target price on shares of Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Cantor Fitzgerald upgraded shares of Alphabet to a “hold” rating in a research report on Thursday, September 5th. Finally, Wolfe Research upgraded Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and an average price target of $182.86.

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About Alphabet

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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.