Rovin Capital UT ADV Decreases Holdings in Alphabet Inc. $GOOG

Rovin Capital UT ADV decreased its holdings in Alphabet Inc. (NASDAQ:GOOG) by 8.8% in the second quarter, Holdings Channel reports. The fund owned 3,330 shares of the information services provider’s stock after selling 322 shares during the quarter. Rovin Capital UT ADV’s holdings in Alphabet were worth $591,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. REDW Wealth LLC boosted its holdings in shares of Alphabet by 2.3% in the 2nd 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. ACT Advisors LLC. lifted its position in Alphabet by 3.5% in the second quarter. ACT Advisors LLC. now owns 1,625 shares of the information services provider’s stock worth $288,000 after buying an additional 55 shares during the last quarter. Moser Wealth Advisors LLC boosted its stake in Alphabet by 2.2% during the second 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 period. LongView Wealth Management boosted its stake in Alphabet by 1.1% during the second quarter. LongView Wealth Management now owns 5,126 shares of the information services provider’s stock worth $909,000 after buying an additional 56 shares during the period. Finally, Kooman & Associates increased its position in Alphabet by 1.4% during the second quarter. Kooman & Associates now owns 4,127 shares of the information services provider’s stock valued at $732,000 after acquiring an additional 56 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Stock Performance

Alphabet stock opened at $279.70 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The company has a market capitalization of $3.38 trillion, a PE ratio of 27.58, a P/E/G ratio of 1.86 and a beta of 1.05. The company has a 50 day moving average price of $251.81 and a 200-day moving average price of $205.49. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $291.93.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, topping the consensus estimate of $2.29 by $0.58. The company had revenue of $102.35 billion for the quarter, compared to the consensus estimate of $99.90 billion. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.Alphabet’s quarterly revenue was up 15.9% on a year-over-year basis. During the same period last year, the business posted $2.12 EPS. As a group, equities analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Announces Dividend

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

Analyst Upgrades and Downgrades

GOOG has been the subject of a number of recent analyst reports. Scotiabank set a $336.00 price target on shares of Alphabet and gave the stock a “sector outperform” rating in a research note on Thursday, October 30th. Cowen reissued a “buy” rating on shares of Alphabet in a research note on Thursday, October 30th. Piper Sandler boosted their target price on Alphabet from $285.00 to $330.00 and gave the company an “overweight” rating in a research report 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 report on Monday, October 27th. Finally, Oppenheimer boosted their price objective on Alphabet from $300.00 to $345.00 and gave the company an “outperform” rating in a report on Thursday, October 30th. Five investment analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus price target of $324.81.

Insider Buying and Selling

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $283.48, for a total transaction of $9,213,100.00. Following the transaction, the chief executive officer directly owned 2,337,119 shares in the company, valued at $662,526,494.12. This represents a 1.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Frances Arnold sold 112 shares of the firm’s stock in a transaction dated Thursday, October 30th. The shares were sold at an average price of $291.80, for a total transaction of $32,681.60. Following the transaction, the director directly owned 18,004 shares in the company, valued at $5,253,567.20. This trade represents a 0.62% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 222,396 shares of company stock valued at $54,105,275 over the last quarter. 12.99% of the stock is owned by company insiders.

About Alphabet

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.