Alphabet Inc. (NASDAQ:GOOG) is Walter Public Investments Inc.’s 2nd Largest Position

Walter Public Investments Inc. lowered its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.1% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 160,834 shares of the information services provider’s stock after selling 238 shares during the quarter. Alphabet accounts for about 5.4% of Walter Public Investments Inc.’s holdings, making the stock its 2nd biggest holding. Walter Public Investments Inc.’s holdings in Alphabet were worth $29,500,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in GOOG. Gilbert & Cook Inc. boosted its position in Alphabet by 15.5% during the 4th quarter. Gilbert & Cook Inc. now owns 29,159 shares of the information services provider’s stock valued at $4,109,000 after buying an additional 3,924 shares during the period. Concentrum Wealth Management boosted its position in Alphabet by 25.0% during the 4th quarter. Concentrum Wealth Management now owns 16,440 shares of the information services provider’s stock valued at $2,317,000 after buying an additional 3,283 shares during the period. Aveo Capital Partners LLC boosted its position in Alphabet by 2.4% during the 4th quarter. Aveo Capital Partners LLC now owns 6,647 shares of the information services provider’s stock valued at $937,000 after buying an additional 154 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in Alphabet during the 4th quarter valued at $620,000. Finally, Paragon Private Wealth Management LLC raised its holdings in Alphabet by 9.4% in the 4th quarter. Paragon Private Wealth Management LLC now owns 1,716 shares of the information services provider’s stock worth $242,000 after purchasing an additional 148 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Stock Up 0.4 %

Shares of Alphabet stock opened at $158.99 on Tuesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. The company has a 50-day moving average of $168.43 and a 200 day moving average of $166.48. The firm has a market cap of $1.96 trillion, a price-to-earnings ratio of 24.38, a PEG ratio of 1.13 and a beta of 1.04. Alphabet Inc. has a 1 year low of $121.46 and a 1 year high of $193.31.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.04. The company had revenue of $84.74 billion during the quarter, compared to analyst estimates of $84.22 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. Alphabet’s quarterly revenue was up 13.6% compared to the same quarter last year. During the same period last year, the business earned $1.44 EPS. As a group, sell-side analysts anticipate that Alphabet Inc. will post 7.63 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were paid a $0.20 dividend. The ex-dividend date was Monday, September 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.50%. Alphabet’s payout ratio is 12.27%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on GOOG shares. Oppenheimer upped their price objective on shares of Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. DA Davidson upgraded shares of Alphabet to a “hold” rating in a report on Tuesday, September 10th. TD Cowen upped their price objective on shares of Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Rosenblatt Securities lowered shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective for the company. in a report on Friday, June 28th. Finally, Wolfe Research upgraded shares of Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $182.86.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $177.40, for a total transaction of $3,991,500.00. Following the sale, the chief executive officer now directly owns 2,213,011 shares of the company’s stock, valued at approximately $392,588,151.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total transaction of $125,126.54. Following the sale, the chief accounting officer now directly owns 30,650 shares of the company’s stock, valued at approximately $5,623,355.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $177.40, for a total transaction of $3,991,500.00. Following the sale, the chief executive officer now directly owns 2,213,011 shares in the company, valued at $392,588,151.40. The disclosure for this sale can be found here. Insiders sold a total of 202,667 shares of company stock worth $34,341,581 in the last three months. 12.99% of the stock is owned by corporate insiders.

About Alphabet

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.