Alphabet Inc. $GOOG Shares Sold by Lbp Am Sa

Lbp Am Sa cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 3.0% during the second quarter, HoldingsChannel.com reports. The fund owned 388,710 shares of the information services provider’s stock after selling 12,032 shares during the period. Alphabet accounts for about 1.0% of Lbp Am Sa’s holdings, making the stock its 20th largest holding. Lbp Am Sa’s holdings in Alphabet were worth $68,953,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in Alphabet by 2.4% during the first quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider’s stock worth $64,299,725,000 after acquiring an additional 9,687,855 shares during the last quarter. Kingstone Capital Partners Texas LLC boosted its position in Alphabet by 580,897.4% during the second quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider’s stock worth $23,963,208,000 after acquiring an additional 135,064,454 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Alphabet by 9.9% during the first quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider’s stock worth $15,971,861,000 after acquiring an additional 9,243,959 shares during the last quarter. Deutsche Bank AG boosted its position in Alphabet by 5.4% during the first quarter. Deutsche Bank AG now owns 21,345,784 shares of the information services provider’s stock worth $3,334,852,000 after acquiring an additional 1,098,996 shares during the last quarter. Finally, Invesco Ltd. raised its stake in Alphabet by 2.2% during the first quarter. Invesco Ltd. now owns 20,380,073 shares of the information services provider’s stock worth $3,183,979,000 after purchasing an additional 440,526 shares during the period. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Price Performance

Shares of GOOG opened at $246.43 on Friday. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $256.70. The firm’s 50 day moving average price is $220.84 and its 200 day moving average price is $186.43. The company has a market cap of $2.98 trillion, a P/E ratio of 26.24, a PEG ratio of 1.66 and a beta of 1.00. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.19. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The firm had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.67 billion. During the same period in the prior year, the firm earned $1.89 EPS. The firm’s revenue for the quarter was up 13.8% on a year-over-year basis. On average, research analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Monday, September 8th. Alphabet’s dividend payout ratio is presently 8.95%.

Wall Street Analysts Forecast Growth

GOOG has been the topic of a number of analyst reports. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Alphabet in a research note on Wednesday, July 9th. Jefferies Financial Group lifted their target price on shares of Alphabet from $230.00 to $285.00 and gave the stock a “buy” rating in a research note on Thursday. Lake Street Capital reaffirmed a “buy” rating on shares of Alphabet in a research note on Wednesday, July 9th. Morgan Stanley lifted their target price on shares of Alphabet from $210.00 to $270.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, Mizuho raised shares of Alphabet to a “strong-buy” rating in a research note on Monday. Five equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, five have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $235.33.

Insider Activity

In related news, Director John L. Hennessy sold 600 shares of the company’s stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $249.44, for a total transaction of $149,664.00. Following the sale, the director directly owned 5,716 shares of the company’s stock, valued at $1,425,799.04. This represents a 9.50% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 953 shares of the stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $241.20, for a total transaction of $229,863.60. Following the completion of the sale, the chief accounting officer directly owned 17,294 shares in the company, valued at approximately $4,171,312.80. This represents a 5.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 276,738 shares of company stock worth $59,135,475 over the last 90 days. Company insiders own 12.99% of the company’s stock.

Alphabet Company Profile

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.