Alphabet Inc. $GOOG Shares Sold by Cortland Associates Inc. MO

Cortland Associates Inc. MO trimmed its holdings in Alphabet Inc. (NASDAQ:GOOG) by 0.6% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 185,511 shares of the information services provider’s stock after selling 1,172 shares during the period. Alphabet accounts for about 3.8% of Cortland Associates Inc. MO’s holdings, making the stock its 13th biggest holding. Cortland Associates Inc. MO’s holdings in Alphabet were worth $32,908,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. RDA Financial Network raised its position in shares of Alphabet by 5.3% in the second quarter. RDA Financial Network now owns 11,094 shares of the information services provider’s stock valued at $1,968,000 after buying an additional 554 shares during the last quarter. Tower View Wealth Management LLC increased its position in Alphabet by 6.9% during the second quarter. Tower View Wealth Management LLC now owns 27,644 shares of the information services provider’s stock worth $4,904,000 after purchasing an additional 1,776 shares during the last quarter. Oldfather Financial Services LLC acquired a new stake in Alphabet during the second quarter worth about $213,000. Truist Financial Corp increased its position in Alphabet by 0.4% during the second quarter. Truist Financial Corp now owns 3,626,927 shares of the information services provider’s stock worth $643,381,000 after purchasing an additional 15,065 shares during the last quarter. Finally, GC Wealth Management RIA LLC increased its position in Alphabet by 115.7% during the second quarter. GC Wealth Management RIA LLC now owns 214,392 shares of the information services provider’s stock worth $38,031,000 after purchasing an additional 115,003 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $184.38, for a total value of $5,992,350.00. Following the completion of the transaction, the chief executive officer owned 2,527,392 shares in the company, valued at $466,000,536.96. The trade was a 1.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kavitark Ram Shriram sold 18,566 shares of Alphabet stock in a transaction that occurred on Friday, July 18th. The stock was 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 of the company’s stock, valued at $45,213,984. This represents a 7.09% decrease in their position. The disclosure for this sale can be found here. Insiders sold 276,738 shares of company stock worth $59,135,475 over the last 90 days. 12.99% of the stock is owned by insiders.

Alphabet Trading Down 1.9%

NASDAQ GOOG opened at $237.49 on Friday. The firm has a 50 day simple moving average of $226.97 and a 200-day simple moving average of $189.66. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. Alphabet Inc. has a one year low of $142.66 and a one year high of $256.70. The firm has a market cap of $2.87 trillion, a price-to-earnings ratio of 25.29, a PEG ratio of 1.63 and a beta of 1.00.

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

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors 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 dividend on an annualized basis and a yield of 0.4%. Alphabet’s payout ratio is currently 8.95%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on GOOG shares. UBS Group set a $255.00 price objective on shares of Alphabet and gave the stock a “neutral” rating in a research report on Thursday. Lake Street Capital restated a “buy” rating on shares of Alphabet in a research report on Wednesday, July 9th. Wells Fargo & Company restated an “equal weight” rating on shares of Alphabet in a research report on Wednesday, July 9th. Roth Capital restated a “buy” rating on shares of Alphabet in a research report on Wednesday, July 9th. Finally, Cowen reaffirmed a “buy” rating on shares of Alphabet in a research note on Wednesday. Six research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $241.00.

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.