Silvant Capital Management LLC Lowers Holdings in Alphabet Inc. $GOOG

Silvant Capital Management LLC cut its position in Alphabet Inc. (NASDAQ:GOOG) by 39.8% during the 1st quarter, HoldingsChannel.com reports. The firm owned 64,503 shares of the information services provider’s stock after selling 42,724 shares during the quarter. Silvant Capital Management LLC’s holdings in Alphabet were worth $10,077,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. ARQ Wealth Advisors LLC lifted its stake in Alphabet by 39.3% in the 4th quarter. ARQ Wealth Advisors LLC now owns 4,964 shares of the information services provider’s stock worth $945,000 after purchasing an additional 1,400 shares in the last quarter. Independence Bank of Kentucky raised its position in shares of Alphabet by 10.2% during the 1st quarter. Independence Bank of Kentucky now owns 14,907 shares of the information services provider’s stock valued at $2,329,000 after buying an additional 1,376 shares in the last quarter. Fermata Advisors LLC raised its position in shares of Alphabet by 2.7% during the 1st quarter. Fermata Advisors LLC now owns 9,771 shares of the information services provider’s stock valued at $1,527,000 after buying an additional 259 shares in the last quarter. jvl associates llc raised its position in shares of Alphabet by 3.5% during the 1st quarter. jvl associates llc now owns 10,055 shares of the information services provider’s stock valued at $1,571,000 after buying an additional 343 shares in the last quarter. Finally, Members Trust Co raised its position in shares of Alphabet by 84.7% during the 1st quarter. Members Trust Co now owns 4,999 shares of the information services provider’s stock valued at $781,000 after buying an additional 2,292 shares in the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on GOOG shares. Wells Fargo & Company restated an “equal weight” rating on shares of Alphabet in a research report on Wednesday, July 9th. Oppenheimer restated an “outperform” rating and set a $235.00 price objective (up previously from $220.00) on shares of Alphabet in a research report on Thursday, July 24th. Lake Street Capital restated a “buy” rating on shares of Alphabet in a research report on Wednesday, July 9th. Piper Sandler restated a “neutral” rating on shares of Alphabet in a research report on Wednesday, July 9th. Finally, UBS Group raised their price objective on shares of Alphabet from $186.00 to $192.00 and gave the company a “neutral” rating in a research report on Wednesday, July 16th. Five research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $215.19.

Alphabet Price Performance

Shares of NASDAQ:GOOG opened at $207.95 on Wednesday. The stock has a market cap of $2.51 trillion, a PE ratio of 22.15, a PEG ratio of 1.41 and a beta of 1.02. The company’s fifty day moving average is $188.95 and its 200 day moving average is $174.99. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $211.09. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.12 by $0.19. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The firm had revenue of $96.43 billion for the quarter, compared to analysts’ expectations of $93.67 billion. During the same quarter in the previous year, the company earned $1.89 earnings per share. The company’s revenue for the quarter was up 13.8% compared to the same quarter last year. Research analysts anticipate 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, September 15th. Shareholders of record on Monday, September 8th will be given a $0.21 dividend. The ex-dividend date is Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.4%. Alphabet’s payout ratio is presently 8.95%.

Insider Activity

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $178.52, for a total value of $5,801,900.00. Following the transaction, the chief executive officer owned 2,559,892 shares in the company, valued at approximately $456,991,919.84. The trade was a 1.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kavitark Ram Shriram sold 18,566 shares of the business’s stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the completion of the transaction, the director owned 243,400 shares in the company, valued at $45,213,984. The trade was a 7.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 254,719 shares of company stock worth $47,223,172 over the last ninety days. 12.99% of the stock is owned by insiders.

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.