Fort Washington Investment Advisors Inc. OH Lowers Stake in Alphabet Inc. (NASDAQ:GOOG)

Fort Washington Investment Advisors Inc. OH cut its position in Alphabet Inc. (NASDAQ:GOOG) by 1.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,522,317 shares of the information services provider’s stock after selling 24,215 shares during the quarter. Alphabet comprises about 3.0% of Fort Washington Investment Advisors Inc. OH’s holdings, making the stock its 5th largest position. Fort Washington Investment Advisors Inc. OH’s holdings in Alphabet were worth $462,643,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Park Avenue Securities LLC grew its stake in Alphabet by 11.9% during the first quarter. Park Avenue Securities LLC now owns 109,878 shares of the information services provider’s stock valued at $16,730,000 after acquiring an additional 11,646 shares in the last quarter. Colonial River Wealth Management LLC grew its position in shares of Alphabet by 5.3% during the 2nd quarter. Colonial River Wealth Management LLC now owns 2,126 shares of the information services provider’s stock valued at $390,000 after purchasing an additional 107 shares in the last quarter. Apexium Financial LP increased its holdings in shares of Alphabet by 335.9% in the fourth quarter. Apexium Financial LP now owns 53,823 shares of the information services provider’s stock worth $7,586,000 after purchasing an additional 41,476 shares during the period. Oak Ridge Investments LLC raised its position in shares of Alphabet by 4.6% in the first quarter. Oak Ridge Investments LLC now owns 187,229 shares of the information services provider’s stock worth $28,508,000 after buying an additional 8,201 shares in the last quarter. Finally, V Square Quantitative Management LLC boosted its stake in Alphabet by 0.7% during the first quarter. V Square Quantitative Management LLC now owns 62,917 shares of the information services provider’s stock valued at $9,580,000 after buying an additional 426 shares during the period. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Trading Up 1.0 %

Shares of GOOG stock opened at $165.11 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. The stock has a fifty day simple moving average of $175.40 and a two-hundred day simple moving average of $165.01. The firm has a market capitalization of $2.04 trillion, a PE ratio of 25.32, a PEG ratio of 1.28 and a beta of 1.05. Alphabet Inc. has a 52-week low of $121.46 and a 52-week high of $193.31.

Alphabet (NASDAQ:GOOG) last released its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, topping the consensus estimate of $1.85 by $0.04. The firm had revenue of $84.74 billion for the quarter, compared to the consensus estimate of $84.22 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The company’s quarterly revenue was up 13.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.44 earnings per share. On average, analysts predict that Alphabet Inc. will post 7.62 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently disclosed 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 is Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.48%. Alphabet’s payout ratio is currently 12.27%.

Insider Buying and Selling at Alphabet

In related news, SVP Prabhakar Raghavan sold 3,262 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $183.99, for a total transaction of $600,175.38. Following the transaction, the senior vice president now directly owns 9 shares in the company, valued at approximately $1,655.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director John L. Hennessy sold 1,500 shares of the firm’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $177.92, for a total value of $266,880.00. Following the completion of the transaction, the director now owns 3,727 shares in the company, valued at approximately $663,107.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Prabhakar Raghavan sold 3,262 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $183.99, for a total value of $600,175.38. Following the completion of the transaction, the senior vice president now owns 9 shares of the company’s stock, valued at $1,655.91. The disclosure for this sale can be found here. Insiders have sold 179,065 shares of company stock worth $31,025,543 over the last quarter. Insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on GOOG. Wolfe Research upgraded Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. TD Cowen raised their price objective on Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Rosenblatt Securities lowered Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price for the company. in a research note on Friday, June 28th. Finally, Oppenheimer boosted their price objective on shares of Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $182.86.

About Alphabet

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.