Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Mountain Pacific Investment Advisers Inc. ID

Mountain Pacific Investment Advisers Inc. ID trimmed its stake in Alphabet Inc. (NASDAQ:GOOG) by 5.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,089 shares of the information services provider’s stock after selling 116 shares during the quarter. Mountain Pacific Investment Advisers Inc. ID’s holdings in Alphabet were worth $318,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the stock. JPMorgan Chase & Co. grew its position in shares of Alphabet by 11.3% in the third quarter. JPMorgan Chase & Co. now owns 95,941,129 shares of the information services provider’s stock valued at $12,649,838,000 after purchasing an additional 9,703,425 shares during the period. Capital International Investors grew its position in shares of Alphabet by 1.1% in the fourth quarter. Capital International Investors now owns 80,246,520 shares of the information services provider’s stock valued at $11,309,370,000 after purchasing an additional 862,550 shares during the period. Norges Bank purchased a new stake in shares of Alphabet in the fourth quarter valued at $4,101,040,000. Charles Schwab Investment Management Inc. grew its position in shares of Alphabet by 1.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 28,800,413 shares of the information services provider’s stock valued at $4,058,842,000 after purchasing an additional 481,376 shares during the period. Finally, Sanders Capital LLC grew its position in shares of Alphabet by 2.9% in the fourth quarter. Sanders Capital LLC now owns 28,558,000 shares of the information services provider’s stock valued at $4,024,679,000 after purchasing an additional 813,428 shares during the period. 27.26% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director John L. Hennessy sold 1,500 shares of the business’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $177.92, for a total value of $266,880.00. Following the transaction, the director now owns 3,727 shares in the company, valued at $663,107.84. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Director John L. Hennessy sold 1,500 shares of the business’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $177.92, for a total value of $266,880.00. Following the transaction, the director now owns 3,727 shares in the company, valued at $663,107.84. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider John Kent Walker sold 12,084 shares of the business’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $151.19, for a total value of $1,826,979.96. Following the completion of the transaction, the insider now owns 48,717 shares in the company, valued at approximately $7,365,523.23. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 135,958 shares of company stock worth $22,383,553. 12.99% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Stifel Nicolaus lifted their price objective on Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Morgan Stanley reaffirmed an “overweight” rating and issued a $165.00 price objective on shares of Alphabet in a research report on Thursday, April 11th. Finally, Oppenheimer boosted their price target on Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research report on Monday, April 8th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Alphabet presently has an average rating of “Buy” and an average price target of $165.67.

Alphabet Price Performance

Shares of NASDAQ GOOG opened at $180.26 on Monday. Alphabet Inc. has a 1-year low of $115.83 and a 1-year high of $182.51. The business has a 50-day moving average of $171.61 and a 200-day moving average of $154.11. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.15. The company has a market capitalization of $2.23 trillion, a price-to-earnings ratio of 27.65, a PEG ratio of 1.33 and a beta of 1.01.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.51 by $0.38. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The company had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $78.75 billion. During the same quarter in the prior year, the business earned $1.17 earnings per share. The company’s revenue was up 15.4% compared to the same quarter last year. On average, equities analysts anticipate that Alphabet Inc. will post 7.6 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently declared a — dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 10th were paid a $0.20 dividend. The ex-dividend date of this dividend was Monday, June 10th. Alphabet’s dividend payout ratio (DPR) is 12.27%.

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.