Washington Capital Management Inc. Has $1.43 Million Stake in Alphabet Inc. (NASDAQ:GOOG)

Washington Capital Management Inc. decreased its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,400 shares of the information services provider’s stock after selling 100 shares during the period. Alphabet accounts for 1.2% of Washington Capital Management Inc.’s investment portfolio, making the stock its 14th biggest holding. Washington Capital Management Inc.’s holdings in Alphabet were worth $1,431,000 at the end of the most recent reporting period.

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

Insider Activity

In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $155.67, for a total transaction of $3,502,575.00. Following the sale, the chief executive officer now directly owns 2,325,513 shares of the company’s stock, valued at $362,012,608.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $155.67, for a total value of $3,502,575.00. Following the transaction, the chief executive officer now directly owns 2,325,513 shares in the company, valued at $362,012,608.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider John Kent Walker sold 12,084 shares of the stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $151.19, for a total transaction of $1,826,979.96. Following the completion of the transaction, the insider now owns 48,717 shares in the company, valued at $7,365,523.23. The disclosure for this sale can be found here. Insiders have sold 158,458 shares of company stock valued at $26,375,053 over the last three months. 12.99% of the stock is owned by insiders.

Analysts Set New Price Targets

GOOG has been the subject of several recent research reports. Morgan Stanley reissued an “overweight” rating and issued a $165.00 price target on shares of Alphabet in a research report on Thursday, April 11th. Oppenheimer increased their price target on shares of Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research report on Monday, April 8th. Finally, Stifel Nicolaus increased their price target on shares of Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, Alphabet currently has a consensus rating of “Buy” and an average price target of $165.67.

Alphabet Price Performance

Shares of Alphabet stock opened at $180.79 on Tuesday. 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 stock has a market capitalization of $2.23 trillion, a price-to-earnings ratio of 27.73, a P/E/G ratio of 1.35 and a beta of 1.01. Alphabet Inc. has a 1-year low of $115.83 and a 1-year high of $182.51. The firm’s 50-day moving average price is $172.10 and its two-hundred day moving average price is $154.41.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data 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. The firm had revenue of $80.54 billion for the quarter, compared to analysts’ expectations of $78.75 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The company’s quarterly revenue was up 15.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.17 earnings per share. On average, equities analysts predict that Alphabet Inc. will post 7.6 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

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

Alphabet Company 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.