Alphabet Inc. (NASDAQ:GOOG) Holdings Cut by Franklin Street Advisors Inc. NC

11 Oct 2024, 10:02 by Teresa Graham · The Cerbat Gem

Franklin Street Advisors Inc. NC decreased its holdings in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 0.8% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 350,363 shares of the information services provider’s stock after selling 2,869 shares during the period. Alphabet comprises approximately 4.0% of Franklin Street Advisors Inc. NC’s investment portfolio, making the stock its 4th biggest holding. Franklin Street Advisors Inc. NC’s holdings in Alphabet were worth $58,577,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of GOOG. Twelve Points Wealth Management LLC grew its holdings in Alphabet by 0.7% in the second quarter. Twelve Points Wealth Management LLC now owns 7,985 shares of the information services provider’s stock valued at $1,465,000 after purchasing an additional 55 shares during the period. PCG Wealth Advisors LLC boosted its holdings in shares of Alphabet by 3.1% in the 2nd quarter. PCG Wealth Advisors LLC now owns 1,880 shares of the information services provider’s stock valued at $345,000 after purchasing an additional 57 shares during the last quarter. Investment Advisory Services Inc. TX ADV boosted its holdings in shares of Alphabet by 1.6% in the 2nd quarter. Investment Advisory Services Inc. TX ADV now owns 3,636 shares of the information services provider’s stock valued at $667,000 after purchasing an additional 57 shares during the last quarter. Advisors Management Group Inc. ADV grew its stake in shares of Alphabet by 2.0% during the 2nd quarter. Advisors Management Group Inc. ADV now owns 2,944 shares of the information services provider’s stock valued at $540,000 after buying an additional 58 shares during the period. Finally, Mark Sheptoff Financial Planning LLC increased its holdings in shares of Alphabet by 11.1% during the 1st quarter. Mark Sheptoff Financial Planning LLC now owns 600 shares of the information services provider’s stock worth $91,000 after buying an additional 60 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Analyst Ratings Changes

GOOG has been the subject of a number of research reports. Pivotal Research initiated coverage on Alphabet in a research report on Tuesday, October 1st. They set a “buy” rating and a $215.00 price target for the company. Scotiabank assumed coverage on shares of Alphabet in a research report on Friday. They set a “sector outperform” rating and a $212.00 target price for the company. Wolfe Research upgraded shares of Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. Rosenblatt Securities downgraded shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price on the stock. in a research note on Friday, June 28th. Finally, UBS Group lowered their price target on Alphabet from $204.00 to $187.00 and set a “neutral” rating for the company in a report on Monday. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $186.90.

Check Out Our Latest Report on GOOG

Alphabet Stock Performance

Alphabet stock opened at $163.14 on Friday. Alphabet Inc. has a 52 week low of $121.46 and a 52 week high of $193.31. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. The stock has a market cap of $2.01 trillion, a P/E ratio of 23.41, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04. The stock has a 50 day moving average of $162.89 and a 200-day moving average of $169.03.

Alphabet (NASDAQ:GOOG – Get Free Report) last posted its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. The firm had revenue of $84.74 billion for the quarter, compared to the consensus estimate of $84.22 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The firm’s revenue was up 13.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.44 EPS. On average, analysts expect that Alphabet Inc. will post 7.64 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.49%. The ex-dividend date of this dividend was Monday, September 9th. Alphabet’s dividend payout ratio is currently 11.48%.

Insider Buying and Selling at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total transaction of $114,576.00. Following the transaction, the chief accounting officer now directly owns 31,334 shares in the company, valued at $5,264,112. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $182.84, for a total value of $4,113,900.00. Following the sale, the chief executive officer now owns 2,204,885 shares of the company’s stock, valued at approximately $403,141,173.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total value of $114,576.00. Following the transaction, the chief accounting officer now owns 31,334 shares of the company’s stock, valued at approximately $5,264,112. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 216,092 shares of company stock worth $35,644,136 over the last quarter. 12.99% of the stock is owned by corporate insiders.

Alphabet Company Profile

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