Hamilton Point Investment Advisors LLC Has $15.35 Million Holdings in Alphabet Inc. $GOOG

Hamilton Point Investment Advisors LLC reduced its position in Alphabet Inc. (NASDAQ:GOOG) by 3.9% in the second quarter, Holdings Channel.com reports. The fund owned 86,549 shares of the information services provider’s stock after selling 3,524 shares during the quarter. Alphabet makes up about 2.5% of Hamilton Point Investment Advisors LLC’s holdings, making the stock its 8th biggest holding. Hamilton Point Investment Advisors LLC’s holdings in Alphabet were worth $15,353,000 at the end of the most recent quarter.

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

Alphabet Trading Up 0.8%

GOOG stock opened at $253.79 on Friday. The company has a market capitalization of $3.07 trillion, a PE ratio of 27.03, a price-to-earnings-growth ratio of 1.70 and a beta of 1.00. Alphabet Inc. has a one year low of $142.66 and a one year high of $257.58. The company’s 50 day moving average price is $232.18 and its two-hundred day moving average price is $192.73. 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 (NASDAQ:GOOG) last posted its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping the consensus estimate of $2.12 by $0.19. The firm had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.67 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The business’s revenue was up 13.8% compared to the same quarter last year. During the same period last year, the firm posted $1.89 earnings per share. As a group, analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, September 8th. Alphabet’s payout ratio is presently 8.95%.

Insider Activity

In related news, Director John L. Hennessy sold 1,000 shares of Alphabet stock in a transaction on Friday, August 8th. The shares were sold at an average price of $200.00, for a total value of $200,000.00. Following the transaction, the director directly owned 6,916 shares of the company’s stock, valued at $1,383,200. The trade was a 12.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider John Kent Walker sold 23,820 shares of Alphabet stock in a transaction on Monday, August 4th. The stock was sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the completion of the transaction, the insider directly owned 42,999 shares in the company, valued at approximately $8,371,905.30. The trade was a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 243,372 shares of company stock valued at $55,110,740 in the last three months. Corporate insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on GOOG shares. JPMorgan Chase & Co. raised their target price on shares of Alphabet from $232.00 to $260.00 and gave the company an “overweight” rating in a research note on Wednesday, September 3rd. Scotiabank reaffirmed an “outperform” rating and issued a $310.00 target price on shares of Alphabet in a research note on Thursday. KeyCorp set a $265.00 target price on shares of Alphabet in a research note on Wednesday, September 3rd. Roth Capital reaffirmed a “buy” rating on shares of Alphabet in a research note on Wednesday, July 9th. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Alphabet in a research note on Wednesday, July 9th. Six analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, Alphabet has an average rating of “Moderate Buy” and a consensus target price of $244.68.

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.