Yacktman Asset Management LP Has $227.25 Million Stock Position in Alphabet Inc. $GOOG

Yacktman Asset Management LP cut its holdings in Alphabet Inc. (NASDAQ:GOOG) by 8.8% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,281,057 shares of the information services provider’s stock after selling 123,395 shares during the period. Alphabet makes up approximately 3.1% of Yacktman Asset Management LP’s investment portfolio, making the stock its 11th largest position. Yacktman Asset Management LP’s holdings in Alphabet were worth $227,247,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of GOOG. REDW Wealth LLC increased its holdings in shares of Alphabet by 2.3% during the second quarter. REDW Wealth LLC now owns 2,410 shares of the information services provider’s stock worth $428,000 after purchasing an additional 54 shares during the period. ACT Advisors LLC. increased its stake in Alphabet by 3.5% during the 2nd quarter. ACT Advisors LLC. now owns 1,625 shares of the information services provider’s stock worth $288,000 after acquiring an additional 55 shares during the period. Moser Wealth Advisors LLC increased its stake in Alphabet by 2.2% during the 2nd quarter. Moser Wealth Advisors LLC now owns 2,545 shares of the information services provider’s stock worth $451,000 after acquiring an additional 55 shares during the period. LongView Wealth Management raised its holdings in Alphabet by 1.1% in the 2nd quarter. LongView Wealth Management now owns 5,126 shares of the information services provider’s stock valued at $909,000 after acquiring an additional 56 shares in the last quarter. Finally, Kooman & Associates lifted its position in shares of Alphabet by 1.4% during the 2nd quarter. Kooman & Associates now owns 4,127 shares of the information services provider’s stock valued at $732,000 after acquiring an additional 56 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insider Buying and Selling at Alphabet

In other news, Director John L. Hennessy sold 600 shares of the business’s stock in a transaction dated Monday, October 13th. The stock was sold at an average price of $242.92, for a total transaction of $145,752.00. Following the sale, the director directly owned 5,116 shares in the company, valued at approximately $1,242,778.72. The trade was a 10.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider John Kent Walker sold 17,816 shares of the firm’s stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the completion of the transaction, the insider owned 42,985 shares of the company’s stock, valued at approximately $10,635,348.70. This trade represents a 29.30% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 222,396 shares of company stock worth $54,105,275 over the last three months. 12.99% of the stock is owned by corporate insiders.

Alphabet Trading Down 2.0%

Shares of Alphabet stock opened at $279.70 on Friday. The firm’s 50 day moving average is $251.81 and its 200 day moving average is $205.14. The firm has a market capitalization of $3.38 trillion, a PE ratio of 27.58, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $291.93. 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 (NASDAQ:GOOG) last issued its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, beating the consensus estimate of $2.29 by $0.58. The business had revenue of $102.35 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.12 EPS. Equities research analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, December 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is 8.28%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on GOOG shares. BMO Capital Markets restated an “outperform” rating and issued a $340.00 price target on shares of Alphabet in a research report on Thursday, October 30th. Jefferies Financial Group raised their target price on shares of Alphabet from $285.00 to $320.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Mizuho set a $325.00 price target on shares of Alphabet in a report on Thursday, October 30th. JPMorgan Chase & Co. increased their price target on shares of Alphabet from $260.00 to $300.00 and gave the stock an “overweight” rating in a research report on Monday, October 27th. Finally, UBS Group restated a “neutral” rating on shares of Alphabet in a research report on Thursday, October 30th. Five equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $324.81.

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.