S&CO Inc. Sells 1,390 Shares of Alphabet Inc. $GOOG

S&CO Inc. reduced its stake in Alphabet Inc. (NASDAQ:GOOG) by 1.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 119,412 shares of the information services provider’s stock after selling 1,390 shares during the period. Alphabet comprises approximately 1.4% of S&CO Inc.’s investment portfolio, making the stock its 18th largest position. S&CO Inc.’s holdings in Alphabet were worth $21,182,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in GOOG. Kingstone Capital Partners Texas LLC grew its stake in shares of Alphabet by 580,897.4% during the second quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider’s stock worth $23,963,208,000 after buying an additional 135,064,454 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Alphabet during the 1st quarter valued at $2,622,943,000. Vanguard Group Inc. boosted its holdings in shares of Alphabet by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider’s stock valued at $64,299,725,000 after acquiring an additional 9,687,855 shares in the last quarter. JPMorgan Chase & Co. grew its position in Alphabet by 9.9% during 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 during the last quarter. Finally, Strs Ohio acquired a new position in Alphabet in the 1st quarter worth about $369,713,000. 27.26% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

GOOG has been the topic of a number of recent research reports. UBS Group reissued a “neutral” rating on shares of Alphabet in a research note on Thursday, October 30th. Pivotal Research raised their price objective on shares of Alphabet from $300.00 to $350.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Oppenheimer boosted their target price on shares of Alphabet from $300.00 to $345.00 and gave the stock an “outperform” rating in a report on Thursday, October 30th. Weiss Ratings restated a “buy (b)” rating on shares of Alphabet in a research report on Wednesday, October 8th. Finally, TD Cowen raised their price target on shares of Alphabet from $270.00 to $280.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. 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 stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $324.81.

Insider Activity

In other news, CAO Amie Thuener O’toole sold 954 shares of Alphabet stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $282.33, for a total value of $269,342.82. Following the completion of the transaction, the chief accounting officer directly owned 14,517 shares of the company’s stock, valued at approximately $4,098,584.61. This trade represents a 6.17% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Frances Arnold sold 112 shares of the company’s stock in a transaction dated Thursday, October 30th. The shares were sold at an average price of $291.80, for a total value of $32,681.60. Following the sale, the director owned 18,004 shares in the company, valued at approximately $5,253,567.20. The trade was a 0.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 221,796 shares of company stock worth $53,983,001. 12.99% of the stock is owned by insiders.

Alphabet Stock Up 0.4%

Alphabet stock opened at $291.74 on Wednesday. The firm has a market cap of $3.53 trillion, a price-to-earnings ratio of 28.77, a PEG ratio of 1.86 and a beta of 1.05. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $292.34. 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 firm has a 50 day moving average price of $254.94 and a two-hundred day moving average price of $207.64.

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

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 8th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Monday, December 8th. Alphabet’s dividend payout ratio (DPR) is presently 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.