Hudson Value Partners LLC Cuts Stock Holdings in Alphabet Inc. $GOOG

Hudson Value Partners LLC cut its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 32,311 shares of the information services provider’s stock after selling 342 shares during the period. Alphabet accounts for 2.0% of Hudson Value Partners LLC’s holdings, making the stock its 13th biggest position. Hudson Value Partners LLC’s holdings in Alphabet were worth $5,732,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GOOG. Vanguard Group Inc. increased its position in shares of Alphabet by 2.4% in the first quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider’s stock valued at $64,299,725,000 after buying an additional 9,687,855 shares in the last quarter. Kingstone Capital Partners Texas LLC grew its stake in Alphabet by 580,897.4% in 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 acquiring an additional 135,064,454 shares during the period. JPMorgan Chase & Co. increased its holdings in Alphabet by 9.9% in the 1st 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 in the last quarter. Deutsche Bank AG raised 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 period. Finally, Invesco Ltd. lifted its holdings in Alphabet by 2.2% during the first quarter. Invesco Ltd. now owns 20,380,073 shares of the information services provider’s stock valued at $3,183,979,000 after purchasing an additional 440,526 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Price Performance

Alphabet stock opened at $246.45 on Friday. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The company has a 50-day moving average price of $221.89 and a 200 day moving average price of $187.01. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $256.70. The stock has a market cap of $2.98 trillion, a P/E ratio of 26.25, a PEG ratio of 1.66 and a beta of 1.00.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.19. The company had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.67 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. Alphabet’s revenue was up 13.8% on a year-over-year basis. During the same period in the previous year, the business posted $1.89 EPS. Sell-side analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Dividend Announcement

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

Insider Buying and Selling

In other news, CAO Amie Thuener O’toole sold 953 shares of the company’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $241.20, for a total value of $229,863.60. Following the transaction, the chief accounting officer owned 17,294 shares of the company’s stock, valued at $4,171,312.80. This represents a 5.22% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $243.41, for a total value of $7,910,825.00. Following the sale, the chief executive officer directly owned 2,402,119 shares of the company’s stock, valued at $584,699,785.79. The trade was a 1.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 276,738 shares of company stock valued at $59,135,475. 12.99% of the stock is currently owned by company insiders.

Analyst Ratings Changes

GOOG has been the subject of a number of research reports. Weiss Ratings reissued a “buy (b)” rating on shares of Alphabet in a research note on Saturday, September 27th. Mizuho upgraded Alphabet to a “strong-buy” rating in a research note on Monday, September 29th. Raymond James Financial restated an “outperform” rating and issued a $210.00 target price (up previously from $185.00) on shares of Alphabet in a research report on Thursday, July 24th. Cowen reaffirmed a “buy” rating on shares of Alphabet in a research note on Wednesday, July 9th. Finally, BNP Paribas downgraded Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, June 26th. Five analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $235.33.

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.