Alphabet Inc. (NASDAQ:GOOG) Stock Holdings Reduced by Thrive Wealth Management LLC

Thrive Wealth Management LLC reduced its stake in Alphabet Inc. (NASDAQ:GOOG) by 0.7% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 25,144 shares of the information services provider’s stock after selling 172 shares during the quarter. Alphabet makes up 0.9% of Thrive Wealth Management LLC’s investment portfolio, making the stock its 13th largest holding. Thrive Wealth Management LLC’s holdings in Alphabet were worth $4,612,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Capital International Investors increased its holdings in Alphabet by 9.3% in the first quarter. Capital International Investors now owns 87,716,562 shares of the information services provider’s stock valued at $13,355,724,000 after purchasing an additional 7,470,042 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Alphabet by 19.7% during the first quarter. JPMorgan Chase & Co. now owns 84,171,721 shares of the information services provider’s stock worth $12,815,986,000 after buying an additional 13,876,534 shares during the period. Capital World Investors raised its stake in shares of Alphabet by 2.2% during the 1st quarter. Capital World Investors now owns 45,731,826 shares of the information services provider’s stock worth $6,963,128,000 after purchasing an additional 979,083 shares in the last quarter. Capital Research Global Investors grew its position in shares of Alphabet by 2.0% in the 1st quarter. Capital Research Global Investors now owns 35,558,778 shares of the information services provider’s stock valued at $5,414,179,000 after acquiring an additional 684,968 shares during the period. Finally, Norges Bank acquired a new position in Alphabet during the fourth quarter worth approximately $4,101,040,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Price Performance

Shares of GOOG stock traded up $1.55 during trading hours on Friday, hitting $165.39. 13,549,230 shares of the company’s stock were exchanged, compared to its average volume of 20,609,316. The firm has a market cap of $2.04 trillion, a P/E ratio of 25.37, a P/E/G ratio of 1.28 and a beta of 1.05. The firm has a 50 day moving average of $178.60 and a two-hundred day moving average of $163.42. 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 Inc. has a fifty-two week low of $121.46 and a fifty-two week high of $193.31.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share 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 firm had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $84.22 billion. During the same quarter in the previous year, the company posted $1.44 EPS. The company’s revenue was up 13.6% compared to the same quarter last year. Sell-side analysts forecast that Alphabet Inc. will post 7.62 EPS for the current year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, September 9th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Monday, September 9th. This represents a $0.80 annualized dividend and a yield of 0.48%. Alphabet’s dividend payout ratio is currently 12.27%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on GOOG. Wolfe Research upgraded Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. Oppenheimer upped their price objective on Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. TD Cowen lifted their price objective on shares of Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Stifel Nicolaus boosted their price objective on shares of Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Finally, Rosenblatt Securities downgraded shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective for the company. in a report on Friday, June 28th. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $182.86.

Insider Buying and Selling at Alphabet

In other news, Director John L. Hennessy sold 1,500 shares of the stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $168.08, for a total value of $252,120.00. Following the completion of the sale, the director now directly owns 4,391 shares of the company’s stock, valued at $738,039.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director John L. Hennessy sold 1,500 shares of Alphabet stock in a transaction on Monday, May 13th. The shares were sold at an average price of $168.08, for a total value of $252,120.00. Following the transaction, the director now directly owns 4,391 shares in the company, valued at approximately $738,039.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the completion of the transaction, the chief executive officer now owns 2,182,385 shares in the company, valued at $354,310,204.75. The disclosure for this sale can be found here. Insiders have sold 144,808 shares of company stock worth $25,586,650 over the last three months. Insiders own 12.99% of the company’s stock.

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.