Silvant Capital Management LLC Has $7.08 Million Stock Holdings in Alphabet Inc. $GOOG

Silvant Capital Management LLC reduced its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 38.2% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 39,882 shares of the information services provider’s stock after selling 24,621 shares during the period. Silvant Capital Management LLC’s holdings in Alphabet were worth $7,075,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in GOOG. IFS Advisors LLC grew its stake in shares of Alphabet by 400.0% in the 2nd quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock valued at $27,000 after purchasing an additional 120 shares during the period. Robbins Farley grew its position in Alphabet by 60.0% in the second quarter. Robbins Farley now owns 160 shares of the information services provider’s stock valued at $28,000 after acquiring an additional 60 shares during the period. WestEnd Advisors LLC lifted its holdings 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 acquiring an additional 61 shares during the period. Fairman Group LLC boosted its stake in shares of Alphabet by 121.3% in the 2nd quarter. Fairman Group LLC now owns 177 shares of the information services provider’s stock valued at $31,000 after purchasing an additional 97 shares in the last quarter. Finally, University of Illinois Foundation acquired a new stake in shares of Alphabet in the 2nd quarter valued at $31,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Trading Down 1.0%

NASDAQ:GOOG opened at $320.28 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. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $328.67. The firm has a market capitalization of $3.86 trillion, a price-to-earnings ratio of 31.59, a PEG ratio of 1.86 and a beta of 1.05. The business’s 50-day moving average price is $268.53 and its two-hundred day moving average price is $218.44.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Thursday, October 30th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.29 by $0.58. The company had revenue of $102.35 billion during the quarter, compared to analyst estimates of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The firm’s revenue was up 15.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.12 EPS. On average, equities analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently announced 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 is 8.28%.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O’toole sold 2,778 shares of Alphabet stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $250.05, for a total value of $694,638.90. Following the sale, the chief accounting officer owned 14,516 shares of the company’s stock, valued at $3,629,725.80. This trade represents a 16.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider John Kent Walker sold 17,816 shares of the company’s stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $247.42, for a total value of $4,408,034.72. Following the transaction, the insider directly owned 42,985 shares of the company’s stock, valued at $10,635,348.70. This represents a 29.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 227,850 shares of company stock worth $58,874,814. Corporate insiders own 12.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on GOOG shares. HSBC reiterated a “buy” rating and set a $335.00 target price on shares of Alphabet in a research report on Thursday, October 30th. Piper Sandler raised their price objective on shares of Alphabet from $285.00 to $330.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. Bank of America increased their price target on shares of Alphabet from $280.00 to $335.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. UBS Group reissued a “neutral” rating on shares of Alphabet in a report on Thursday, October 30th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Alphabet in a research report on Wednesday, October 8th. Seven equities research analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Alphabet has an average rating of “Buy” and an average price target of $304.62.

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.