Curbstone Financial Management Corp Has $1.36 Million Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Curbstone Financial Management Corp lessened its position in Alphabet Inc. (NASDAQ:GOOGL) by 3.2% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 7,480 shares of the information services provider’s stock after selling 250 shares during the period. Curbstone Financial Management Corp’s holdings in Alphabet were worth $1,362,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of GOOGL. Tributary Capital Management LLC bought a new stake in shares of Alphabet in the first quarter valued at $30,000. Vermillion & White Wealth Management Group LLC bought a new stake in shares of Alphabet in the fourth quarter valued at $30,000. DiNuzzo Private Wealth Inc. bought a new stake in shares of Alphabet in the fourth quarter valued at $38,000. CarsonAllaria Wealth Management Ltd. raised its stake in shares of Alphabet by 59.2% in the first quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock valued at $44,000 after buying an additional 109 shares during the period. Finally, Richardson Capital Management LLC raised its stake in shares of Alphabet by 87.5% during the 1st quarter. Richardson Capital Management LLC now owns 300 shares of the information services provider’s stock valued at $45,000 after purchasing an additional 140 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Stock Performance

Alphabet stock opened at $161.17 on Wednesday. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $1.98 trillion, a P/E ratio of 24.28, a PEG ratio of 1.28 and a beta of 1.05. The stock’s 50 day moving average is $177.75 and its 200 day moving average is $161.77. Alphabet Inc. has a twelve month low of $120.21 and a twelve month high of $191.75.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The company had revenue of $84.74 billion for the quarter, compared to the consensus estimate of $70.60 billion. During the same quarter in the prior year, the business posted $1.44 EPS. On average, equities research analysts predict that Alphabet Inc. will post 7.62 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, September 9th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, September 9th. This represents a $0.80 annualized dividend and a yield of 0.50%. Alphabet’s dividend payout ratio is 12.27%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on GOOGL. Jefferies Financial Group boosted their price objective on Alphabet from $215.00 to $220.00 in a research note on Tuesday, July 9th. Morgan Stanley boosted their target price on Alphabet from $195.00 to $210.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 23rd. Roth Mkm upped their price objective on Alphabet from $202.00 to $206.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Bank of America upped their price objective on Alphabet from $200.00 to $206.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Finally, Citigroup upped their price objective on Alphabet from $190.00 to $212.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Six equities research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $203.74.

Insider Buying and Selling at Alphabet

In other news, Director John L. Hennessy sold 1,500 shares of the firm’s stock in a transaction 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 transaction, the director now directly owns 4,391 shares in the company, valued at approximately $738,039.28. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total value of $114,576.00. Following the transaction, the chief accounting officer now directly owns 31,334 shares of the company’s stock, valued at approximately $5,264,112. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director John L. Hennessy sold 1,500 shares of the firm’s stock in a transaction 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 transaction, the director now directly owns 4,391 shares in the company, valued at $738,039.28. The disclosure for this sale can be found here. In the last three months, insiders have sold 99,808 shares of company stock worth $17,732,125. Insiders own 11.55% of the company’s stock.

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.