Roundview Capital LLC Cuts Stock Holdings in Alphabet Inc. $GOOG

Roundview Capital LLC lessened its holdings in Alphabet Inc. (NASDAQ:GOOG) by 0.9% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 249,125 shares of the information services provider’s stock after selling 2,362 shares during the quarter. Alphabet makes up 3.0% of Roundview Capital LLC’s holdings, making the stock its 6th largest holding. Roundview Capital LLC’s holdings in Alphabet were worth $44,192,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of GOOG. Kingstone Capital Partners Texas LLC grew its position in Alphabet by 580,897.4% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider’s stock valued at $23,963,208,000 after acquiring an additional 135,064,454 shares during the last quarter. Nuveen LLC bought a new position in Alphabet in the 1st quarter valued at $2,622,943,000. Vanguard Group Inc. grew its position in Alphabet by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider’s stock valued at $64,299,725,000 after acquiring an additional 9,687,855 shares during the last quarter. JPMorgan Chase & Co. grew its position in Alphabet by 9.9% in the 1st quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider’s stock valued at $15,971,861,000 after acquiring an additional 9,243,959 shares during the last quarter. Finally, Strs Ohio purchased a new stake in shares of Alphabet in the 1st quarter worth $369,713,000. Institutional investors own 27.26% of the company’s stock.

Alphabet Trading Down 1.3%

Shares of NASDAQ GOOG opened at $242.21 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The stock has a market capitalization of $2.93 trillion, a P/E ratio of 25.79, a price-to-earnings-growth ratio of 1.66 and a beta of 1.00. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $256.70. The business has a fifty day moving average price of $226.01 and a 200 day moving average price of $189.21.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates of $2.12 by $0.19. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The firm had revenue of $96.43 billion during the quarter, compared to analysts’ expectations of $93.67 billion. During the same period in the prior year, the business posted $1.89 EPS. The firm’s quarterly revenue was up 13.8% on a year-over-year basis. Equities research analysts expect that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were paid a $0.21 dividend. The ex-dividend date was Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is 8.95%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Citizens Jmp upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a report on Thursday, June 26th. Morgan Stanley upped their target price on Alphabet from $210.00 to $270.00 and gave the stock an “overweight” rating in a report on Thursday, October 2nd. Jefferies Financial Group upped their target price on Alphabet from $230.00 to $285.00 and gave the stock a “buy” rating in a report on Thursday, October 2nd. Piper Sandler reiterated a “neutral” rating on shares of Alphabet in a report on Wednesday, July 9th. Finally, Wells Fargo & Company reiterated an “equal weight” rating on shares of Alphabet in a report on Wednesday, July 9th. Six analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and an average target price of $241.00.

Insider Buying and Selling

In other Alphabet news, Director Frances Arnold sold 103 shares of the stock in a transaction dated Tuesday, September 30th. The stock was sold at an average price of $243.13, for a total value of $25,042.39. Following the completion of the sale, the director directly owned 17,284 shares in the company, valued at approximately $4,202,258.92. This trade represents a 0.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $243.41, for a total value of $7,910,825.00. Following the completion of the sale, the chief executive officer owned 2,402,119 shares of the company’s stock, valued at approximately $584,699,785.79. This trade represents a 1.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 276,738 shares of company stock valued at $59,135,475 in the last 90 days. 12.99% of the stock is owned by insiders.

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.