Weaver Capital Management LLC Cuts Stock Holdings in Alphabet Inc. $GOOG

Weaver Capital Management LLC decreased its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 17,630 shares of the information services provider’s stock after selling 372 shares during the period. Weaver Capital Management LLC’s holdings in Alphabet were worth $3,127,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of GOOG. MorganRosel Wealth Management LLC purchased a new position in shares of Alphabet during the first quarter valued at approximately $26,000. IFS Advisors LLC boosted its position in shares of Alphabet by 400.0% during the second quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock valued at $27,000 after buying an additional 120 shares during the last quarter. Robbins Farley boosted its position in shares of Alphabet by 60.0% during the second quarter. Robbins Farley now owns 160 shares of the information services provider’s stock valued at $28,000 after buying an additional 60 shares during the last quarter. WestEnd Advisors LLC boosted its position in shares of Alphabet by 58.7% during the second quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock valued at $29,000 after buying an additional 61 shares during the last quarter. Finally, Goodman Advisory Group LLC purchased a new position in shares of Alphabet during the first quarter valued at approximately $32,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on GOOG shares. Cowen reaffirmed a “buy” rating on shares of Alphabet in a research report on Wednesday. TD Cowen lifted their price target on Alphabet from $270.00 to $280.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. Jefferies Financial Group lifted their price target on Alphabet from $230.00 to $285.00 and gave the stock a “buy” rating in a report on Thursday, October 2nd. Roth Capital reiterated a “buy” rating on shares of Alphabet in a report on Wednesday, July 9th. Finally, Citizens Jmp upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a report on Thursday, June 26th. Six investment analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and a consensus target price of $241.00.

Alphabet Stock Performance

Shares of Alphabet stock opened at $237.49 on Monday. The business’s fifty day simple moving average is $226.97 and its 200 day simple moving average is $189.99. The firm has a market capitalization of $2.87 trillion, a P/E ratio of 25.29, a price-to-earnings-growth ratio of 1.60 and a beta of 1.00. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $256.70. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07.

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

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were paid a $0.21 dividend. The ex-dividend date was Monday, September 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.4%. Alphabet’s payout ratio is presently 8.95%.

Insider Transactions at Alphabet

In other Alphabet news, Director John L. Hennessy sold 600 shares of the business’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $249.44, for a total value of $149,664.00. Following the sale, the director directly owned 5,716 shares in the company, valued at $1,425,799.04. The trade was a 9.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Frances Arnold sold 103 shares of the business’s stock in a transaction on Tuesday, September 30th. The shares were sold at an average price of $243.13, for a total value of $25,042.39. Following the completion of the sale, the director owned 17,284 shares in the company, valued at approximately $4,202,258.92. The trade was a 0.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 276,338 shares of company stock valued at $59,062,683. 12.99% of the stock is currently owned by insiders.

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.