Federated Hermes Inc. Has $24.01 Million Stake in Alphabet Inc. $GOOG

Federated Hermes Inc. reduced its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 6.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 135,332 shares of the information services provider’s stock after selling 9,337 shares during the quarter. Federated Hermes Inc.’s holdings in Alphabet were worth $24,007,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Brighton Jones LLC boosted its position in Alphabet by 5.6% during the 4th quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider’s stock worth $22,901,000 after acquiring an additional 6,410 shares during the period. Nicholas Hoffman & Company LLC. lifted its position in shares of Alphabet by 4.0% in the first quarter. Nicholas Hoffman & Company LLC. now owns 25,146 shares of the information services provider’s stock worth $3,929,000 after purchasing an additional 976 shares in the last quarter. AGF Management Ltd. lifted its position in shares of Alphabet by 0.6% in the first quarter. AGF Management Ltd. now owns 185,612 shares of the information services provider’s stock worth $28,998,000 after purchasing an additional 1,150 shares in the last quarter. Taylor Hoffman Capital Management LLC boosted its holdings in shares of Alphabet by 2.4% during the first quarter. Taylor Hoffman Capital Management LLC now owns 7,091 shares of the information services provider’s stock worth $1,127,000 after purchasing an additional 167 shares during the period. Finally, Trajan Wealth LLC grew its position in Alphabet by 9.0% during the first quarter. Trajan Wealth LLC now owns 89,831 shares of the information services provider’s stock valued at $14,034,000 after purchasing an additional 7,431 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insider Activity at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 954 shares of the firm’s stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $317.00, for a total value of $302,418.00. Following the sale, the chief accounting officer directly owned 11,740 shares in the company, valued at $3,721,580. This trade represents a 7.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Frances Arnold sold 102 shares of the company’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $317.66, for a total transaction of $32,401.32. Following the transaction, the director directly owned 18,104 shares of the company’s stock, valued at $5,750,916.64. This represents a 0.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 228,906 shares of company stock worth $62,127,158. Insiders own 12.99% of the company’s stock.

Alphabet Trading Up 1.0%

Shares of NASDAQ:GOOG opened at $317.75 on Wednesday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.75 and a current ratio of 1.75. The stock’s 50-day moving average is $279.62 and its 200-day moving average is $227.71. The company has a market cap of $3.83 trillion, a P/E ratio of 31.34, a P/E/G ratio of 1.82 and a beta of 1.07. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $328.67.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Thursday, October 30th. The information services provider reported $2.87 earnings per share for the quarter, beating the consensus estimate of $2.29 by $0.58. The firm had revenue of $102.35 billion during the quarter, compared to the consensus estimate of $99.90 billion. Alphabet had a return on equity of 35.00% and a net margin of 32.23%.The firm’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.12 EPS. Equities research analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 8th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Monday, December 8th. Alphabet’s dividend payout ratio is currently 8.28%.

Wall Street Analysts Forecast Growth

GOOG has been the subject of a number of research analyst reports. Sanford C. Bernstein increased their target price on shares of Alphabet from $260.00 to $305.00 and gave the stock an “outperform” rating in a research report on Thursday, October 30th. Scotiabank set a $336.00 price target on shares of Alphabet and gave the stock a “sector outperform” rating in a research note on Thursday, October 30th. Loop Capital raised Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 18th. KeyCorp restated an “overweight” rating and issued a $330.00 target price on shares of Alphabet in a research note on Thursday, October 30th. Finally, Barclays raised their price target on Alphabet from $250.00 to $315.00 and gave the stock an “overweight” rating in a research note on Thursday, October 30th. Seven analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $310.54.

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.