Alphabet Inc. $GOOG Shares Sold by Coerente Capital Management

Coerente Capital Management decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,520 shares of the information services provider’s stock after selling 60 shares during the period. Alphabet makes up 0.1% of Coerente Capital Management’s portfolio, making the stock its 29th biggest holding. Coerente Capital Management’s holdings in Alphabet were worth $802,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of GOOG. Kingstone Capital Partners Texas LLC boosted its position in Alphabet by 580,897.4% during the 2nd 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 acquiring an additional 135,064,454 shares during the period. Nuveen LLC acquired a new position in shares of Alphabet during the 1st quarter worth $2,622,943,000. Vanguard Group Inc. increased its position in Alphabet by 2.4% during the first quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider’s stock worth $64,299,725,000 after buying an additional 9,687,855 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Alphabet by 9.9% in 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 purchasing an additional 9,243,959 shares during the last quarter. Finally, Strs Ohio acquired a new stake in shares of Alphabet in the first quarter worth $369,713,000. 27.26% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Alphabet news, Director Frances Arnold sold 103 shares of the company’s stock in a transaction on Tuesday, September 30th. The shares were sold at an average price of $243.13, for a total transaction of $25,042.39. Following the transaction, the director owned 17,284 shares in the company, valued at approximately $4,202,258.92. This represents a 0.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 600 shares of the firm’s stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $249.44, for a total value of $149,664.00. Following the completion of the transaction, the director owned 5,716 shares in the company, valued at $1,425,799.04. This represents a 9.50% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 276,338 shares of company stock valued at $59,062,683 over the last three months. Insiders own 12.99% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ GOOG opened at $237.49 on Monday. Alphabet Inc. has a 1-year low of $142.66 and a 1-year 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. The firm has a market cap 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. The business’s 50 day moving average is $226.97 and its 200-day moving average is $189.99.

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

Alphabet Announces Dividend

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

Analyst Ratings Changes

Several research firms recently commented on GOOG. Citizens Jmp upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Thursday, June 26th. Morgan Stanley increased their price objective on Alphabet from $210.00 to $270.00 and gave the stock an “overweight” rating in a research note on Thursday, October 2nd. Raymond James Financial reaffirmed an “outperform” rating and set a $210.00 price target (up from $185.00) on shares of Alphabet in a report on Thursday, July 24th. BNP Paribas lowered shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, June 26th. Finally, Wells Fargo & Company reissued an “equal weight” rating on shares of Alphabet in a report on Wednesday, July 9th. Six investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $241.00.

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.