Capital Counsel LLC NY Has $231.70 Million Holdings in Alphabet Inc. $GOOG

Capital Counsel LLC NY cut its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.9% during the 2nd quarter, Holdings Channel.com reports. The fund owned 1,306,181 shares of the information services provider’s stock after selling 12,212 shares during the period. Alphabet accounts for about 9.4% of Capital Counsel LLC NY’s portfolio, making the stock its 5th biggest position. Capital Counsel LLC NY’s holdings in Alphabet were worth $231,703,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of GOOG. Brighton Jones LLC increased its stake in Alphabet by 5.6% in the 4th quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider’s stock valued at $22,901,000 after buying an additional 6,410 shares during the last quarter. R Squared Ltd bought a new position in shares of Alphabet in the first quarter valued at approximately $337,000. Beta Wealth Group Inc. increased its position in shares of Alphabet by 2.3% during the first quarter. Beta Wealth Group Inc. now owns 18,577 shares of the information services provider’s stock valued at $2,902,000 after acquiring an additional 426 shares during the last quarter. Liberty Wealth Management LLC lifted its holdings in Alphabet by 2,100.2% during the first quarter. Liberty Wealth Management LLC now owns 346,793 shares of the information services provider’s stock worth $54,179,000 after acquiring an additional 331,031 shares during the period. Finally, Cheviot Value Management LLC boosted its position in Alphabet by 221.9% in the first quarter. Cheviot Value Management LLC now owns 4,298 shares of the information services provider’s stock worth $714,000 after purchasing an additional 2,963 shares during the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Alphabet Price Performance

GOOG opened at $319.95 on Monday. The firm has a 50-day moving average price of $269.82 and a 200-day moving average price of $220.34. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $328.67. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $3.86 trillion, a price-to-earnings ratio of 31.55, a PEG ratio of 1.86 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Thursday, October 30th. The information services provider reported $2.87 EPS for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. The company had revenue of $102.35 billion for the quarter, compared to analysts’ expectations of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. Alphabet’s revenue was up 15.9% compared to the same quarter last year. During the same period in the prior year, the company posted $2.12 EPS. Equities analysts expect that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 8th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Monday, December 8th. Alphabet’s dividend payout ratio (DPR) is presently 8.28%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. BMO Capital Markets reaffirmed an “outperform” rating and set a $340.00 target price on shares of Alphabet in a research report on Thursday, October 30th. BNP Paribas initiated coverage on shares of Alphabet in a research report on Monday, November 24th. They set an “outperform” rating for the company. Phillip Securities raised shares of Alphabet from a “moderate buy” rating to a “strong-buy” rating in a research report on Friday, November 7th. Raymond James Financial set a $275.00 target price on shares of Alphabet and gave the company an “outperform” rating in a research note on Friday, October 24th. Finally, Pivotal Research raised their price target on shares of Alphabet from $300.00 to $350.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Seven investment analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Alphabet currently has an average rating of “Buy” and an average target price of $304.62.

Insider Activity

In related news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $250.15, for a total transaction of $8,129,875.00. Following the sale, the chief executive officer directly owned 2,369,619 shares in the company, valued at approximately $592,760,192.85. The trade was a 1.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider John Kent Walker sold 17,816 shares of the firm’s stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $247.42, for a total value of $4,408,034.72. Following the completion of the transaction, the insider owned 42,985 shares of the company’s stock, valued at approximately $10,635,348.70. This represents a 29.30% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 227,850 shares of company stock worth $58,874,814. 12.99% of the stock is owned by corporate 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.