Thoroughbred Financial Services LLC Has $14.94 Million Holdings in Alphabet Inc. $GOOG

Thoroughbred Financial Services LLC trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 18.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 84,228 shares of the information services provider’s stock after selling 18,758 shares during the quarter. Alphabet makes up about 1.0% of Thoroughbred Financial Services LLC’s investment portfolio, making the stock its 19th largest holding. Thoroughbred Financial Services LLC’s holdings in Alphabet were worth $14,941,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. IFS Advisors LLC raised its holdings in shares of Alphabet by 400.0% during the 2nd quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock valued at $27,000 after purchasing an additional 120 shares in the last quarter. Robbins Farley boosted its holdings in Alphabet by 60.0% in the second quarter. Robbins Farley now owns 160 shares of the information services provider’s stock worth $28,000 after purchasing an additional 60 shares in the last quarter. WestEnd Advisors LLC increased its position in Alphabet by 58.7% during the second quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock worth $29,000 after buying an additional 61 shares during the last quarter. Fairman Group LLC raised its holdings in Alphabet by 121.3% during the second quarter. Fairman Group LLC now owns 177 shares of the information services provider’s stock valued at $31,000 after buying an additional 97 shares in the last quarter. Finally, Horrell Capital Management Inc. raised its holdings in Alphabet by 100.0% during the second quarter. Horrell Capital Management Inc. now owns 200 shares of the information services provider’s stock valued at $35,000 after buying an additional 100 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Trading Down 0.8%

Shares of GOOG stock opened at $276.98 on Friday. The firm has a market capitalization of $3.34 trillion, a P/E ratio of 27.32, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $292.36. The firm’s fifty day simple moving average is $257.84 and its 200 day simple moving average is $209.82. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Thursday, October 30th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The company had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. During the same period last year, the business posted $2.12 EPS. The business’s quarterly revenue was up 15.9% on a year-over-year basis. As a group, sell-side analysts predict that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Announces Dividend

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

Insider Buying and Selling

In other news, Director Frances Arnold sold 112 shares of Alphabet stock in a transaction that occurred on Thursday, October 30th. The stock was sold at an average price of $291.80, for a total transaction of $32,681.60. Following the sale, the director owned 18,004 shares of the company’s stock, valued at approximately $5,253,567.20. This trade represents a 0.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John Kent Walker sold 17,816 shares of the company’s stock in a transaction on Monday, September 29th. The shares were sold at an average price of $247.42, for a total value of $4,408,034.72. Following the completion of the transaction, the insider owned 42,985 shares of the company’s stock, valued at $10,635,348.70. The trade was a 29.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 221,796 shares of company stock worth $53,983,001. 12.99% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on GOOG shares. Mizuho set a $325.00 price objective on Alphabet in a report on Thursday, October 30th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Alphabet in a research report on Wednesday, October 8th. Barclays increased their price target on Alphabet from $250.00 to $315.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $330.00 price objective on shares of Alphabet in a report on Thursday, October 30th. Finally, Oppenheimer raised their target price on shares of Alphabet from $300.00 to $345.00 and gave the company an “outperform” rating in a research note on Thursday, October 30th. Six equities research analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, Alphabet has an average rating of “Moderate Buy” and a consensus target price of $324.81.

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.