STF Management LP Has $6.39 Million Holdings in Alphabet Inc. (NASDAQ:GOOG)

STF Management LP cut its stake in Alphabet Inc. (NASDAQ:GOOG) by 4.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,823 shares of the information services provider’s stock after selling 1,747 shares during the quarter. Alphabet makes up approximately 2.7% of STF Management LP’s investment portfolio, making the stock its 8th largest holding. STF Management LP’s holdings in Alphabet were worth $6,387,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Richardson Financial Services Inc. bought a new stake in shares of Alphabet during the fourth quarter worth approximately $34,000. 1620 Investment Advisors Inc. acquired a new position in Alphabet in the 2nd quarter valued at $37,000. Slocum Gordon & Co LLP acquired a new stake in shares of Alphabet during the second quarter worth $44,000. Hoese & Co LLP lifted its holdings in shares of Alphabet by 62.5% during the second quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock worth $45,000 after buying an additional 100 shares in the last quarter. Finally, Iron Horse Wealth Management LLC bought a new stake in shares of Alphabet in the second quarter valued at about $48,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Wall Street Analyst Weigh In

GOOG has been the subject of several analyst reports. Rosenblatt Securities cut shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective for the company. in a research note on Friday, June 28th. Cantor Fitzgerald upgraded shares of Alphabet to a “hold” rating in a research report on Thursday, September 5th. Oppenheimer increased their price target on Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Wolfe Research raised Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. Finally, DA Davidson upgraded Alphabet to a “hold” rating in a research report on Tuesday, September 10th. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and an average target price of $182.86.

Insiders Place Their Bets

In related news, Director John L. Hennessy sold 800 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $153.75, for a total transaction of $123,000.00. Following the sale, the director now owns 28,524 shares of the company’s stock, valued at approximately $4,385,565. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, SVP Prabhakar Raghavan sold 34,257 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total value of $5,570,188.20. Following the completion of the transaction, the senior vice president now owns 312,210 shares of the company’s stock, valued at $50,765,346. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John L. Hennessy sold 800 shares of Alphabet stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $153.75, for a total transaction of $123,000.00. Following the sale, the director now owns 28,524 shares in the company, valued at $4,385,565. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 202,667 shares of company stock valued at $34,341,581. 12.99% of the stock is currently owned by insiders.

Alphabet Price Performance

Alphabet stock opened at $160.28 on Wednesday. The stock has a fifty day moving average of $167.82 and a 200-day moving average of $166.64. The stock has a market capitalization of $1.98 trillion, a P/E ratio of 24.58, a price-to-earnings-growth ratio of 1.13 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. Alphabet Inc. has a 52 week low of $121.46 and a 52 week high of $193.31.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. The firm had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $84.22 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The business’s revenue for the quarter was up 13.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.44 earnings per share. On average, sell-side analysts expect that Alphabet Inc. will post 7.63 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 9th were given a $0.20 dividend. The ex-dividend date of this dividend was Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.50%. Alphabet’s dividend payout ratio is currently 12.27%.

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.