Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Heron Bay Capital Management

VaselineSeptember 23, 2024

0 4 minutes read

Heron Bay Capital Management reduced its position in shares of Alphabet Inc. (NASDAQ:GOOG – Free Report) by 9.8% during the second quarter, Holdings Channel.com reports. The institutional investor owned 17,375 shares of the information services provider’s stock after selling 1,892 shares during the period. Heron Bay Capital Management’s holdings in Alphabet were worth $3,187,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. 1620 Investment Advisors Inc. purchased a new position in Alphabet in the second quarter valued at $37,000. Richardson Financial Services Inc. acquired a new stake in shares of Alphabet in the fourth quarter valued at approximately $34,000. Slocum Gordon & Co LLP purchased a new position in shares of Alphabet in the second quarter valued at approximately $44,000. Hoese & Co LLP boosted its position in Alphabet by 62.5% in the second quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock worth $45,000 after acquiring an additional 100 shares in the last quarter. Finally, Iron Horse Wealth Management LLC acquired a new stake in Alphabet during the 2nd quarter valued at about $48,000. Hedge funds and other institutional investors own 27.26% of the company’s shares.

Alphabet trading up 0.9%

Shares of GOOG stock opened at $164.64 on Friday. Alphabet Inc. has a 1 year low of $121.46 and a 1 year high of $193.31. The firm has a market cap of $2.03 trillion, a PE ratio of 25.25, a price-to-earnings-growth ratio of 1.13 and a beta of 1.04. The company has a 50 day moving average of $166.26 and a two hundred day moving average of $167.02. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08, and a quick ratio of 2.08.

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

Alphabetical announcement of dividends

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

Insider activity at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 2,835 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total transaction of $429,587.55. Following the sale, the chief accounting officer now directly owns 29,182 shares in the company, valued at $4,421,948.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC’s website. In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $186.74, for a total value of $4,201,650.00. Following the completion of the transaction, the chief executive officer now directly owns 2,227,385 shares in the company, valued at $415,941,874.90. The transaction was disclosed in a filing with the SEC, which is available on the SEC’s website. Also, CAO Amie Thuener O’toole sold 2,835 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total value of $429,587.55. Following the sale, the chief accounting officer now owns 29,182 shares in the company, valued at approximately $4,421,948.46. The disclosure for this sale can be found here. Insiders have sold 202,667 shares of company stock worth $33,964,256 over the last three months. 12.99% of shares are owned by company insiders.

The Wall Street analyst weighs in

Several research analysts recently weighed in on GOOG shares. Cantor Fitzgerald upgraded Alphabet to a “hold” rating in a report on Thursday, September 5th. DA Davidson upgraded Alphabet to a “hold” rating in a report on Tuesday, September 10th. TD Cowen raised their target price on Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Rosenblatt Securities cut shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective for the company. in a report on Friday, June 28. Finally, Wolfe Research raised shares of Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Alphabet presently has an average rating of “Moderate Buy” and a consensus price target of $182.86, according to MarketBeat.com.

Get the latest stock analysis on Alphabet

Alphabet Company Profile

(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.