Taurus Asset Management LLC Has $39.06 Million Stake in Alphabet Inc. (NASDAQ:GOOG)

Taurus Asset Management LLC cut its stake in Alphabet Inc. (NASDAQ:GOOG) by 2.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 256,547 shares of the information services provider’s stock after selling 5,245 shares during the quarter. Alphabet comprises approximately 4.0% of Taurus Asset Management LLC’s holdings, making the stock its 5th largest holding. Taurus Asset Management LLC’s holdings in Alphabet were worth $39,062,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Capital International Investors boosted its holdings in shares of Alphabet by 1.1% in the fourth quarter. Capital International Investors now owns 80,246,520 shares of the information services provider’s stock valued at $11,309,370,000 after purchasing an additional 862,550 shares during the period. Norges Bank purchased a new position in shares of Alphabet in the 4th quarter valued at $4,101,040,000. Charles Schwab Investment Management Inc. raised its holdings in Alphabet by 1.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 28,800,413 shares of the information services provider’s stock worth $4,058,842,000 after purchasing an additional 481,376 shares in the last quarter. Sanders Capital LLC raised its stake in shares of Alphabet by 2.9% during the 4th quarter. Sanders Capital LLC now owns 28,558,000 shares of the information services provider’s stock worth $4,024,679,000 after acquiring an additional 813,428 shares in the last quarter. Finally, Franklin Resources Inc. lifted its holdings in shares of Alphabet by 0.8% during the 4th quarter. Franklin Resources Inc. now owns 12,638,895 shares of the information services provider’s stock valued at $1,781,200,000 after purchasing an additional 97,603 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $166.67, for a total transaction of $113,668.94. Following the transaction, the chief accounting officer now owns 29,284 shares of the company’s stock, valued at approximately $4,880,764.28. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $166.67, for a total value of $113,668.94. Following the transaction, the chief accounting officer now owns 29,284 shares in the company, valued at $4,880,764.28. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director John L. Hennessy sold 1,500 shares of the business’s stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $185.85, for a total value of $278,775.00. Following the sale, the director now owns 30,824 shares in the company, valued at approximately $5,728,640.40. The disclosure for this sale can be found here. Insiders sold 124,488 shares of company stock valued at $21,954,455 in the last three months. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Stock Down 0.3 %

GOOG stock traded down $0.58 during trading on Thursday, reaching $182.04. The stock had a trading volume of 1,570,263 shares, compared to its average volume of 20,424,357. Alphabet Inc. has a 1-year low of $118.68 and a 1-year high of $193.31. The company has a market capitalization of $2.25 trillion, a P/E ratio of 28.01, a PEG ratio of 1.39 and a beta of 1.05. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05. The firm has a fifty day moving average price of $180.04 and a 200 day moving average price of $160.11.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.51 by $0.38. The company had revenue of $80.54 billion during the quarter, compared to analyst estimates of $78.75 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The business’s revenue was up 15.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.17 earnings per share. On average, equities analysts anticipate that Alphabet Inc. will post 7.61 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently disclosed a — dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 10th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, June 10th. Alphabet’s dividend payout ratio is presently 12.27%.

Analysts Set New Price Targets

GOOG has been the subject of a number of recent analyst reports. Morgan Stanley reaffirmed an “overweight” rating and issued a $165.00 price objective on shares of Alphabet in a report on Thursday, April 11th. Oppenheimer upped their price target on Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research note on Monday, April 8th. Wolfe Research raised shares of Alphabet to a “strong-buy” rating in a report on Tuesday. TD Cowen increased their target price on shares of Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Finally, Stifel Nicolaus boosted their price objective on Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Alphabet currently has an average rating of “Buy” and an average price target of $174.38.

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.