Coerente Capital Management Sells 1,280 Shares of Alphabet Inc. (NASDAQ:GOOG)

Coerente Capital Management cut its stake in Alphabet Inc. (NASDAQ:GOOG) by 20.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,050 shares of the information services provider’s stock after selling 1,280 shares during the period. Alphabet accounts for 0.2% of Coerente Capital Management’s investment portfolio, making the stock its 27th largest holding. Coerente Capital Management’s holdings in Alphabet were worth $926,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also bought and sold shares of the company. International Assets Investment Management LLC purchased a new position in Alphabet during the fourth quarter worth about $8,232,000. GUNN & Co INVESTMENT MANAGEMENT INC. grew its holdings in Alphabet by 964.3% in the 4th quarter. GUNN & Co INVESTMENT MANAGEMENT INC. now owns 482,698 shares of the information services provider’s stock worth $68,027,000 after acquiring an additional 437,345 shares during the last quarter. Gilbert & Cook Inc. increased its stake in shares of Alphabet by 15.5% during the fourth 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. Citizens Business Bank increased its position in shares of Alphabet by 32.1% during the fourth quarter. Citizens Business Bank now owns 7,528 shares of the information services provider’s stock valued at $1,061,000 after buying an additional 1,828 shares during the period. Finally, Bridgewater Advisors Inc. boosted its holdings in shares of Alphabet by 9.6% during the 4th quarter. Bridgewater Advisors Inc. now owns 29,986 shares of the information services provider’s stock valued at $4,226,000 after buying an additional 2,621 shares in the last quarter. Institutional investors own 27.26% of the company’s stock.

Alphabet Trading Up 0.5 %

Alphabet stock traded up $0.79 during trading on Friday, reaching $164.19. 7,558,381 shares of the company were exchanged, compared to its average volume of 20,096,148. 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 stock’s 50 day simple moving average is $175.69 and its two-hundred day simple moving average is $165.02. Alphabet Inc. has a 52-week low of $121.46 and a 52-week high of $193.31. The company has a market capitalization of $2.03 trillion, a P/E ratio of 25.18, a PEG ratio of 1.28 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last released its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping 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 firm had revenue of $84.74 billion for the quarter, compared to analyst estimates of $84.22 billion. During the same period in the prior year, the firm earned $1.44 earnings per share. The business’s quarterly revenue was up 13.6% compared to the same quarter last year. On average, equities research analysts expect that Alphabet Inc. will post 7.62 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 9th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.49%. The ex-dividend date is Monday, September 9th. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

Insider Buying and Selling at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $173.86, for a total value of $118,572.52. Following the completion of the sale, the chief accounting officer now directly owns 29,966 shares in the company, valued at $5,209,888.76. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $173.86, for a total transaction of $118,572.52. Following the completion of the sale, the chief accounting officer now owns 29,966 shares in the company, valued at $5,209,888.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Prabhakar Raghavan sold 3,262 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $183.99, for a total transaction of $600,175.38. Following the completion of the sale, the senior vice president now owns 9 shares in the company, valued at approximately $1,655.91. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 179,065 shares of company stock valued at $31,025,543. 12.99% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Wolfe Research raised Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. TD Cowen boosted 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. Oppenheimer lifted their price objective on Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Finally, Rosenblatt Securities lowered Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target for the company. in a research note on Friday, June 28th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $182.86.

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.