Raab & Moskowitz Asset Management LLC Sells 2,361 Shares of Alphabet Inc. $GOOGL

Raab & Moskowitz Asset Management LLC lessened its stake in Alphabet Inc. (NASDAQ:GOOGLFree Report) by 6.9% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 31,914 shares of the information services provider’s stock after selling 2,361 shares during the quarter. Alphabet makes up about 2.0% of Raab & Moskowitz Asset Management LLC’s investment portfolio, making the stock its 14th largest position. Raab & Moskowitz Asset Management LLC’s holdings in Alphabet were worth $9,177,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Lifetime Wealth Management P.C. purchased a new stake in Alphabet in the 4th quarter worth $32,000. EMC Capital Management purchased a new position in shares of Alphabet during the fourth quarter valued at about $33,000. IFC & Insurance Marketing Inc. purchased a new position in shares of Alphabet during the fourth quarter valued at about $38,000. Bard Associates Inc. bought a new stake in shares of Alphabet in the fourth quarter worth about $52,000. Finally, Kentucky Trust Co increased its holdings in shares of Alphabet by 142.9% in the fourth quarter. Kentucky Trust Co now owns 170 shares of the information services provider’s stock worth $53,000 after purchasing an additional 100 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Alphabet Trading Down 1.0%

Shares of NASDAQ GOOGL opened at $354.30 on Friday. The business’s 50 day moving average is $355.68 and its two-hundred day moving average is $340.41. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.72 and a quick ratio of 2.64. Alphabet Inc. has a 1-year low of $196.60 and a 1-year high of $408.61. The stock has a market capitalization of $4.33 trillion, a P/E ratio of 17.80, a PEG ratio of 1.00 and a beta of 1.24.

Alphabet (NASDAQ:GOOGLGet Free Report) last posted its quarterly earnings data on Wednesday, July 22nd. The information services provider reported $9.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.89 by $6.22. The business had revenue of $119.80 billion during the quarter, compared to analyst estimates of $117.07 billion. Alphabet had a return on equity of 51.32% and a net margin of 54.77%. As a group, research analysts expect that Alphabet Inc. will post 20.51 EPS for the current year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 14th. Investors of record on Monday, September 7th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 0.2%. The ex-dividend date is Friday, September 4th. Alphabet’s dividend payout ratio is presently 4.42%.

Insider Buying and Selling

In other Alphabet news, major shareholder 2019 Gp L.L.C. Gv sold 118,138 shares of Alphabet stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $18.90, for a total transaction of $2,232,808.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Frances Arnold sold 82 shares of the business’s stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $333.39, for a total transaction of $27,337.98. Following the transaction, the director owned 18,914 shares in the company, valued at $6,305,738.46. This trade represents a 0.43% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 600,547 shares of company stock valued at $16,255,540 in the last three months. Corporate insiders own 11.61% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on GOOGL. Arete Research boosted their target price on Alphabet from $405.00 to $425.00 and gave the stock a “buy” rating in a research report on Monday, May 18th. BNP Paribas Exane raised their price target on Alphabet from $390.00 to $420.00 and gave the company an “outperform” rating in a report on Thursday, April 30th. Citigroup reaffirmed an “outperform” rating on shares of Alphabet in a research note on Monday, May 4th. Zacks Research raised Alphabet from a “hold” rating to a “strong-buy” rating in a report on Monday, July 13th. Finally, Dbs Bank increased their target price on Alphabet from $400.00 to $460.00 in a research report on Thursday, May 7th. Six analysts have rated the stock with a Strong Buy rating, forty-four have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $419.86.

Get Our Latest Report on Alphabet

Key Alphabet News

Here are the key news stories impacting Alphabet this week:

  • Positive Sentiment: Google Cloud revenue reportedly increased 82% in the second quarter, with backlog reaching $514 billion, while the Gemini app reached approximately 950 million monthly active users. The results reinforce the commercial demand supporting Alphabet’s AI and cloud investments. Google’s AI business is booming, so why are DeepMind’s biggest names quitting?
  • Positive Sentiment: Analysts and investors continue to highlight Alphabet’s strong cash generation, balance sheet and valuation relative to its growth prospects. Some market models see the shares reaching $400 as Cloud momentum and AI monetization continue. Price Prediction: Google Will Hit $400 on This Date
  • Positive Sentiment: Alphabet’s expanded Google Cloud partnership with AI lab Mirendil, reportedly worth more than $100 million over multiple years, provides another example of demand for its computing infrastructure. Mirendil Google Cloud deal

Alphabet Company Profile

(Free Report)

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.

See Also

Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGLFree Report).

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.