Sterling Capital Management LLC Has $58.47 Million Stock Holdings in Alphabet Inc. $GOOG

Sterling Capital Management LLC lowered its stake in Alphabet Inc. (NASDAQ:GOOG) by 11.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 329,585 shares of the information services provider’s stock after selling 44,442 shares during the quarter. Sterling Capital Management LLC’s holdings in Alphabet were worth $58,465,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. REDW Wealth LLC boosted its holdings in Alphabet by 2.3% during the second quarter. REDW Wealth LLC now owns 2,410 shares of the information services provider’s stock worth $428,000 after buying an additional 54 shares during the last quarter. ACT Advisors LLC. boosted its stake in Alphabet by 3.5% during the 2nd quarter. ACT Advisors LLC. now owns 1,625 shares of the information services provider’s stock worth $288,000 after acquiring an additional 55 shares during the last quarter. Moser Wealth Advisors LLC grew its holdings in Alphabet by 2.2% during the second quarter. Moser Wealth Advisors LLC now owns 2,545 shares of the information services provider’s stock valued at $451,000 after purchasing an additional 55 shares during the period. LongView Wealth Management increased its stake in Alphabet by 1.1% in the second quarter. LongView Wealth Management now owns 5,126 shares of the information services provider’s stock valued at $909,000 after purchasing an additional 56 shares in the last quarter. Finally, Kooman & Associates increased its stake in Alphabet by 1.4% in the second quarter. Kooman & Associates now owns 4,127 shares of the information services provider’s stock valued at $732,000 after purchasing an additional 56 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O’toole sold 954 shares of the business’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $282.33, for a total transaction of $269,342.82. Following the sale, the chief accounting officer directly owned 14,517 shares of the company’s stock, valued at $4,098,584.61. The trade was a 6.17% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Frances Arnold sold 112 shares of the stock in a transaction dated Thursday, October 30th. The stock was sold at an average price of $291.80, for a total transaction of $32,681.60. Following the transaction, the director owned 18,004 shares of the company’s stock, valued at approximately $5,253,567.20. This represents a 0.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 222,396 shares of company stock valued at $54,105,275 over the last 90 days. 12.99% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

GOOG has been the topic of a number of recent analyst reports. Mizuho set a $325.00 price target on shares of Alphabet in a research report on Thursday, October 30th. DA Davidson set a $825.00 target price on Alphabet in a report on Monday, October 27th. Cantor Fitzgerald set a $310.00 target price on Alphabet and gave the company a “neutral” rating in a research note on Thursday, October 30th. Raymond James Financial set a $275.00 price target on Alphabet and gave the stock an “outperform” rating in a report on Friday, October 24th. Finally, Piper Sandler raised their price target on Alphabet from $285.00 to $330.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. Five investment analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, four have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and an average price target of $324.81.

Alphabet Stock Performance

Shares of Alphabet stock opened at $279.70 on Friday. The firm has a market cap of $3.38 trillion, a price-to-earnings ratio of 27.58, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05. The stock’s 50-day moving average is $251.81 and its 200-day moving average is $205.49. Alphabet Inc. has a one year low of $142.66 and a one year high of $291.93. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. The business had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.Alphabet’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same quarter last year, the firm earned $2.12 EPS. Equities analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current fiscal 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 issued a $0.21 dividend. The ex-dividend date is Monday, December 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is 8.28%.

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.