True North Advisors LLC Has $6.03 Million Stake in Alphabet Inc. (NASDAQ:GOOG)

True North Advisors LLC decreased its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 29.2% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 39,584 shares of the information services provider’s stock after selling 16,354 shares during the quarter. Alphabet comprises about 1.7% of True North Advisors LLC’s portfolio, making the stock its 5th largest holding. True North Advisors LLC’s holdings in Alphabet were worth $6,027,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Partnership Wealth Management LLC bought a new position in shares of Alphabet during the fourth quarter worth $26,000. Bruce G. Allen Investments LLC bought a new position in Alphabet during the fourth quarter valued at $26,000. Equitec Proprietary Markets LLC bought a new position in Alphabet during the fourth quarter valued at $28,000. DiNuzzo Private Wealth Inc. bought a new position in Alphabet during the fourth quarter valued at $32,000. Finally, Richardson Financial Services Inc. bought a new position in Alphabet during the fourth quarter valued at $34,000. Institutional investors own 27.26% of the company’s stock.

Alphabet Trading Up 0.3 %

Shares of GOOG opened at $180.79 on Tuesday. Alphabet Inc. has a twelve month low of $115.83 and a twelve month high of $182.51. The company has a market cap of $2.23 trillion, a P/E ratio of 27.73, a P/E/G ratio of 1.35 and a beta of 1.01. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05. The company’s fifty day simple moving average is $172.10 and its 200-day simple moving average is $154.41.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.51 by $0.38. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The business had revenue of $80.54 billion for the quarter, compared to the consensus estimate of $78.75 billion. During the same quarter in the prior year, the firm posted $1.17 earnings per share. The business’s revenue for the quarter was up 15.4% on a year-over-year basis. As a group, analysts expect that Alphabet Inc. will post 7.6 EPS for the current year.

Alphabet Announces Dividend

The company also recently announced a — dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 10th were paid a $0.20 dividend. The ex-dividend date was Monday, June 10th. Alphabet’s dividend payout ratio is currently 12.27%.

Analyst Ratings Changes

Several equities analysts have commented on GOOG shares. Morgan Stanley reiterated an “overweight” rating and set a $165.00 price objective on shares of Alphabet in a research report on Thursday, April 11th. Oppenheimer increased their price objective on shares of Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research report on Monday, April 8th. Finally, Stifel Nicolaus increased their price objective on shares of Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $165.67.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $177.40, for a total value of $3,991,500.00. Following the transaction, the chief executive officer now owns 2,213,011 shares of the company’s stock, valued at approximately $392,588,151.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, insider John Kent Walker sold 12,084 shares of the firm’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $151.19, for a total value of $1,826,979.96. Following the transaction, the insider now owns 48,717 shares of the company’s stock, valued at approximately $7,365,523.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $177.40, for a total transaction of $3,991,500.00. Following the transaction, the chief executive officer now directly owns 2,213,011 shares in the company, valued at approximately $392,588,151.40. The disclosure for this sale can be found here. Insiders have sold 158,458 shares of company stock valued at $26,375,053 in the last 90 days. Company insiders own 12.99% of the company’s stock.

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.