Alphabet Inc. $GOOG Stake Lessened by EFG Asset Management Americas Corp.

EFG Asset Management Americas Corp. lessened its stake in Alphabet Inc. (NASDAQ:GOOG) by 5.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 47,484 shares of the information services provider’s stock after selling 2,938 shares during the quarter. Alphabet makes up approximately 1.6% of EFG Asset Management Americas Corp.’s holdings, making the stock its 15th biggest holding. EFG Asset Management Americas Corp.’s holdings in Alphabet were worth $8,423,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of GOOG. REDW Wealth LLC boosted its holdings in Alphabet by 2.3% in the second quarter. REDW Wealth LLC now owns 2,410 shares of the information services provider’s stock worth $428,000 after purchasing an additional 54 shares during the period. GDS Wealth Management raised its holdings in shares of Alphabet by 2.4% during the second quarter. GDS Wealth Management now owns 2,325 shares of the information services provider’s stock worth $412,000 after purchasing an additional 54 shares during the period. ACT Advisors LLC. raised its holdings in shares of Alphabet by 3.5% during the second quarter. ACT Advisors LLC. now owns 1,625 shares of the information services provider’s stock worth $288,000 after purchasing an additional 55 shares during the period. Moser Wealth Advisors LLC lifted its position in shares of Alphabet by 2.2% in the 2nd quarter. Moser Wealth Advisors LLC now owns 2,545 shares of the information services provider’s stock worth $451,000 after buying an additional 55 shares during the last quarter. Finally, LongView Wealth Management boosted its holdings in shares of Alphabet by 1.1% in the 2nd quarter. LongView Wealth Management now owns 5,126 shares of the information services provider’s stock valued at $909,000 after buying an additional 56 shares during the period. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Stock Up 2.8%

Shares of GOOG stock opened at $292.99 on Thursday. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $304.25. The stock has a market cap of $3.54 trillion, a PE ratio of 28.89, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05. The business’s fifty day moving average is $260.83 and its 200-day moving average is $212.43. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Thursday, October 30th. The information services provider reported $2.87 earnings per share for the quarter, beating the consensus estimate of $2.29 by $0.58. The business had revenue of $102.35 billion during the quarter, compared to analyst estimates of $99.90 billion. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The company’s revenue was up 15.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.12 earnings per share. Equities analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 8th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Monday, December 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. Alphabet’s payout ratio is currently 8.28%.

Insider Buying and Selling at Alphabet

In other news, Director John L. Hennessy sold 600 shares of the stock in a transaction on Thursday, November 13th. The stock was sold at an average price of $280.06, for a total transaction of $168,036.00. Following the completion of the sale, the director owned 4,516 shares in the company, valued at approximately $1,264,750.96. This represents a 11.73% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Frances Arnold sold 112 shares of Alphabet stock in a transaction on Thursday, October 30th. The stock was sold at an average price of $291.80, for a total value of $32,681.60. Following the completion of the transaction, the director owned 18,004 shares in the company, valued at $5,253,567.20. The trade was a 0.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 195,452 shares of company stock valued at $49,255,209 over the last quarter. Company insiders own 12.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on GOOG shares. Barclays increased their price objective on shares of Alphabet from $250.00 to $315.00 and gave the stock an “overweight” rating in a research note on Thursday, October 30th. JPMorgan Chase & Co. increased their price target on Alphabet from $260.00 to $300.00 and gave the stock an “overweight” rating in a research report on Monday, October 27th. Loop Capital upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday. UBS Group reaffirmed a “neutral” rating on shares of Alphabet in a research report on Thursday, October 30th. Finally, HSBC reissued a “buy” rating and set a $335.00 price target on shares of Alphabet in a report on Thursday, October 30th. Seven research analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $324.81.

Alphabet 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.