Alphabet Inc. (NASDAQ:GOOG) is Conscious Wealth Investments LLC’s 10th Largest Position

Conscious Wealth Investments LLC cut its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 7.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 19,284 shares of the information services provider’s stock after selling 1,548 shares during the period. Alphabet comprises approximately 2.5% of Conscious Wealth Investments LLC’s holdings, making the stock its 10th largest position. Conscious Wealth Investments LLC’s holdings in Alphabet were worth $3,541,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in GOOG. JPMorgan Chase & Co. increased its stake in shares of Alphabet by 19.7% in the 1st quarter. JPMorgan Chase & Co. now owns 84,171,721 shares of the information services provider’s stock worth $12,815,986,000 after purchasing an additional 13,876,534 shares in the last quarter. Swedbank AB purchased a new stake in shares of Alphabet in the 1st quarter worth $1,378,708,000. Capital International Investors increased its stake in shares of Alphabet by 9.3% in the 1st quarter. Capital International Investors now owns 87,716,562 shares of the information services provider’s stock worth $13,355,724,000 after purchasing an additional 7,470,042 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Alphabet by 51.8% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 6,416,150 shares of the information services provider’s stock worth $976,923,000 after purchasing an additional 2,190,795 shares in the last quarter. Finally, Vima LLC increased its stake in shares of Alphabet by 178,253.1% in the 1st quarter. Vima LLC now owns 2,001,122 shares of the information services provider’s stock worth $304,691,000 after purchasing an additional 2,000,000 shares in the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Stock Up 0.8 %

GOOG opened at $160.28 on Wednesday. The firm has a 50-day simple moving average of $167.82 and a two-hundred day simple moving average of $166.64. 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 $1.98 trillion, a PE ratio of 24.58, a price-to-earnings-growth ratio of 1.13 and a beta of 1.04. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The business had revenue of $84.74 billion during the quarter, compared to the consensus estimate of $84.22 billion. During the same quarter in the prior year, the firm earned $1.44 EPS. The business’s revenue was up 13.6% on a year-over-year basis. Analysts forecast that Alphabet Inc. will post 7.63 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date of this dividend was Monday, September 9th. Alphabet’s payout ratio is 12.27%.

Insider Activity at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $177.40, for a total value of $3,991,500.00. Following the completion of the transaction, the chief executive officer now owns 2,213,011 shares of the company’s stock, valued at approximately $392,588,151.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Director John L. Hennessy sold 800 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $153.75, for a total value of $123,000.00. Following the completion of the transaction, the director now owns 28,524 shares of the company’s stock, valued at approximately $4,385,565. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $177.40, for a total transaction of $3,991,500.00. Following the completion of the transaction, the chief executive officer now directly owns 2,213,011 shares of the company’s stock, valued at approximately $392,588,151.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 202,667 shares of company stock valued at $34,341,581. Insiders own 12.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on GOOG shares. TD Cowen increased their price target on Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Wolfe Research upgraded Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. Cantor Fitzgerald upgraded Alphabet to a “hold” rating in a research note on Thursday, September 5th. DA Davidson upgraded Alphabet to a “hold” rating in a research note on Tuesday, September 10th. Finally, Oppenheimer increased their price target on Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target 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.