Painted Porch Advisors LLC Has $279,000 Stock Holdings in Alphabet Inc. $GOOG

Painted Porch Advisors LLC cut its holdings in Alphabet Inc. (NASDAQ:GOOG) by 9.0% in the 2nd quarter, Holdings Channel.com reports. The firm owned 1,575 shares of the information services provider’s stock after selling 156 shares during the quarter. Painted Porch Advisors LLC’s holdings in Alphabet were worth $279,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. boosted its position in Alphabet by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider’s stock worth $64,299,725,000 after acquiring an additional 9,687,855 shares during the last quarter. Kingstone Capital Partners Texas LLC boosted its position in Alphabet by 580,897.4% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider’s stock worth $23,963,208,000 after acquiring an additional 135,064,454 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Alphabet by 9.9% during the 1st quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider’s stock worth $15,971,861,000 after acquiring an additional 9,243,959 shares during the last quarter. Deutsche Bank AG boosted its position in Alphabet by 5.4% during the 1st quarter. Deutsche Bank AG now owns 21,345,784 shares of the information services provider’s stock worth $3,334,852,000 after acquiring an additional 1,098,996 shares during the last quarter. Finally, Invesco Ltd. boosted its position in Alphabet by 2.2% during the 1st quarter. Invesco Ltd. now owns 20,380,073 shares of the information services provider’s stock worth $3,183,979,000 after acquiring an additional 440,526 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on GOOG. Phillip Securities downgraded Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research report on Monday, September 8th. Scotiabank upped their price target on Alphabet from $200.00 to $240.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, July 22nd. Oppenheimer reissued an “outperform” rating and issued a $270.00 price objective (up previously from $235.00) on shares of Alphabet in a report on Wednesday, September 3rd. Piper Sandler reissued a “neutral” rating on shares of Alphabet in a report on Wednesday, July 9th. Finally, Cowen reissued a “buy” rating on shares of Alphabet in a report on Wednesday, July 9th. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus target price of $230.35.

Alphabet Stock Down 0.9%

GOOG stock opened at $252.88 on Tuesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The stock has a market capitalization of $3.06 trillion, a price-to-earnings ratio of 26.93, a PEG ratio of 1.72 and a beta of 1.01. The business’s fifty day moving average price is $211.48 and its two-hundred day moving average price is $182.24. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $256.70.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.19. The firm had revenue of $96.43 billion for the quarter, compared to analysts’ expectations of $93.67 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The company’s quarterly revenue was up 13.8% compared to the same quarter last year. During the same quarter last year, the business earned $1.89 EPS. On average, equities analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were given a $0.21 dividend. The ex-dividend date was Monday, September 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 presently 8.95%.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 2,778 shares of the firm’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $245.00, for a total value of $680,610.00. Following the transaction, the chief accounting officer owned 17,293 shares in the company, valued at approximately $4,236,785. This trade represents a 13.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider John Kent Walker sold 23,820 shares of the firm’s stock in a transaction on Monday, August 4th. The stock was sold at an average price of $194.70, for a total value of $4,637,754.00. Following the completion of the transaction, the insider owned 42,999 shares in the company, valued at $8,371,905.30. The trade was a 35.65% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 258,088 shares of company stock worth $52,405,304 over the last three months. Company insiders own 12.99% of the company’s stock.

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.