D Orazio & Associates Inc. Cuts Stock Position in Alphabet Inc. $GOOG

D Orazio & Associates Inc. cut its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.8% during the 2nd quarter, Holdings Channel.com reports. The firm owned 12,616 shares of the information services provider’s stock after selling 230 shares during the period. D Orazio & Associates Inc.’s holdings in Alphabet were worth $2,238,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Alphabet by 2.4% in the 1st 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 grew its holdings in shares of Alphabet by 580,897.4% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider’s stock valued at $23,963,208,000 after purchasing an additional 135,064,454 shares during the last quarter. Geode Capital Management LLC raised its position in Alphabet by 0.4% in the 2nd quarter. Geode Capital Management LLC now owns 107,760,033 shares of the information services provider’s stock worth $19,022,926,000 after purchasing an additional 441,177 shares during the period. JPMorgan Chase & Co. lifted its stake in Alphabet by 9.9% in 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 purchasing an additional 9,243,959 shares during the last quarter. Finally, Deutsche Bank AG lifted its stake in Alphabet by 5.4% in 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 purchasing an additional 1,098,996 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Insiders Place Their Bets

In other news, insider John Kent Walker sold 17,816 shares of the firm’s stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $247.42, for a total value of $4,408,034.72. Following the completion of the sale, the insider directly owned 42,985 shares of the company’s stock, valued at approximately $10,635,348.70. This trade represents a 29.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $250.15, for a total transaction of $8,129,875.00. Following the transaction, the chief executive officer owned 2,369,619 shares in the company, valued at $592,760,192.85. This represents a 1.35% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 221,796 shares of company stock worth $53,983,001. 12.99% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. UBS Group reaffirmed a “neutral” rating on shares of Alphabet in a research note on Thursday, October 30th. Canaccord Genuity Group restated a “buy” rating and set a $330.00 price target on shares of Alphabet in a research report on Thursday, October 30th. JPMorgan Chase & Co. lifted their price target on Alphabet from $260.00 to $300.00 and gave the stock an “overweight” rating in a research note on Monday, October 27th. Scotiabank set a $336.00 price objective on Alphabet and gave the company a “sector outperform” rating in a research report on Thursday, October 30th. Finally, Raymond James Financial set a $275.00 target price on shares of Alphabet and gave the stock an “outperform” rating in a report on Friday, October 24th. Six equities research analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, four have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $324.81.

Alphabet Trading Down 2.9%

GOOG opened at $279.12 on Friday. Alphabet Inc. has a one year low of $142.66 and a one year high of $292.36. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The business has a 50 day simple moving average of $257.00 and a two-hundred day simple moving average of $208.69. The firm has a market capitalization of $3.37 trillion, a price-to-earnings ratio of 27.53, a PEG ratio of 1.86 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Thursday, October 30th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.29 by $0.58. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The firm had revenue of $102.35 billion for the quarter, compared to analysts’ expectations of $99.90 billion. During the same period in the previous year, the firm earned $2.12 earnings per share. The business’s revenue was up 15.9% compared to the same quarter last year. Analysts predict that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Announces Dividend

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

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.