Bamco Inc. NY Has $14.41 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Bamco Inc. NY lowered its stake in Alphabet Inc. (NASDAQ:GOOG) by 68.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 94,637 shares of the information services provider’s stock after selling 203,236 shares during the quarter. Bamco Inc. NY’s holdings in Alphabet were worth $14,409,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the stock. Manhattan West Asset Management LLC grew its position in shares of Alphabet by 19.5% during the 1st quarter. Manhattan West Asset Management LLC now owns 2,405 shares of the information services provider’s stock worth $366,000 after buying an additional 392 shares during the period. BOKF NA grew its holdings in Alphabet by 5.8% during the first quarter. BOKF NA now owns 320,576 shares of the information services provider’s stock valued at $50,170,000 after purchasing an additional 17,627 shares during the period. Kestra Advisory Services LLC grew its holdings in Alphabet by 11.1% during the first quarter. Kestra Advisory Services LLC now owns 459,466 shares of the information services provider’s stock valued at $69,958,000 after purchasing an additional 45,882 shares during the period. LRI Investments LLC bought a new stake in Alphabet in the first quarter valued at approximately $1,350,000. Finally, Linscomb Wealth Inc. raised its holdings in Alphabet by 1.2% in the first quarter. Linscomb Wealth Inc. now owns 59,788 shares of the information services provider’s stock worth $9,103,000 after purchasing an additional 724 shares during the period. 27.26% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GOOG has been the subject of a number of recent analyst reports. Rosenblatt Securities cut shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective for the company. in a research report on Friday, June 28th. Oppenheimer increased their price target on Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a report on Wednesday. TD Cowen lifted their price objective on Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Morgan Stanley reiterated an “overweight” rating and issued a $165.00 price objective on shares of Alphabet in a research report on Thursday, April 11th. Finally, Stifel Nicolaus raised their target price on shares of Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $182.86.

Insider Transactions at Alphabet

In related news, SVP Prabhakar Raghavan sold 3,262 shares of Alphabet stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $183.99, for a total value of $600,175.38. Following the sale, the senior vice president now owns 9 shares of the company’s stock, valued at $1,655.91. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, SVP Prabhakar Raghavan sold 3,262 shares of Alphabet stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $183.99, for a total transaction of $600,175.38. Following the completion of the transaction, the senior vice president now owns 9 shares in the company, valued at $1,655.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $182.84, for a total value of $4,113,900.00. Following the completion of the sale, the chief executive officer now directly owns 2,204,885 shares of the company’s stock, valued at $403,141,173.40. The disclosure for this sale can be found here. Insiders sold a total of 144,888 shares of company stock worth $25,699,259 in the last three months. Insiders own 12.99% of the company’s stock.

Alphabet Stock Down 0.3 %

Alphabet stock traded down $0.48 during midday trading on Friday, reaching $168.68. The stock had a trading volume of 25,150,116 shares, compared to its average volume of 15,468,653. The stock has a market capitalization of $2.08 trillion, a P/E ratio of 25.87, a price-to-earnings-growth ratio of 1.24 and a beta of 1.05. The firm’s fifty day simple moving average is $180.57 and its 200-day simple moving average is $162.04. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.15 and a current ratio of 2.08. Alphabet Inc. has a 1-year low of $121.46 and a 1-year high of $193.31.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The company had revenue of $84.74 billion for the quarter, compared to the consensus estimate of $84.22 billion. During the same period last year, the company earned $1.44 earnings per share. The firm’s revenue was up 13.6% compared to the same quarter last year. As a group, analysts expect that Alphabet Inc. will post 7.62 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, September 9th will be given a dividend of $0.20 per share. The ex-dividend date is Monday, September 9th. This represents a $0.80 annualized dividend and a yield of 0.47%. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

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.