Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Successful Portfolios LLC

Successful Portfolios LLC lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 5.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,692 shares of the information services provider’s stock after selling 619 shares during the quarter. Alphabet comprises about 1.1% of Successful Portfolios LLC’s holdings, making the stock its 22nd largest position. Successful Portfolios LLC’s holdings in Alphabet were worth $1,628,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of GOOG. Bruce G. Allen Investments LLC purchased a new stake in Alphabet during the fourth quarter valued at about $26,000. Partnership Wealth Management LLC purchased a new stake in shares of Alphabet during the 4th quarter worth about $26,000. Equitec Proprietary Markets LLC acquired a new stake in Alphabet during the 4th quarter worth approximately $28,000. DiNuzzo Private Wealth Inc. purchased a new position in Alphabet in the fourth quarter valued at approximately $32,000. Finally, Pacific Capital Wealth Advisors Inc. acquired a new position in Alphabet during the fourth quarter valued at approximately $34,000. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Stock Performance

NASDAQ:GOOG opened at $183.42 on Monday. The firm has a 50-day moving average of $174.40 and a two-hundred day moving average of $155.84. 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 stock has a market cap of $2.27 trillion, a P/E ratio of 28.13, a PEG ratio of 1.38 and a beta of 1.05. Alphabet Inc. has a 1-year low of $115.83 and a 1-year high of $187.50.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.51 by $0.38. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The firm 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 posted $1.17 earnings per share. Alphabet’s revenue for the quarter was up 15.4% on a year-over-year basis. On average, research analysts expect that Alphabet Inc. will post 7.6 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business 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 was Monday, June 10th. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

Insider Activity at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 2,325,513 shares of the company’s stock, valued at approximately $362,012,608.71. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $154.79, for a total value of $105,566.78. Following the completion of the transaction, the chief accounting officer now owns 29,284 shares of the company’s stock, valued at $4,532,870.36. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction 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 owns 2,325,513 shares of the company’s stock, valued at approximately $362,012,608.71. The disclosure for this sale can be found here. Insiders have sold 143,026 shares of company stock valued at $24,026,243 over the last ninety days. Corporate insiders own 12.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on GOOG. Rosenblatt Securities lowered shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective for the company. in a research report on Friday. Morgan Stanley reissued an “overweight” rating and issued a $165.00 price objective on shares of Alphabet in a research report on Thursday, April 11th. Oppenheimer upped their target price on 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 raised their target price on Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and an average target price of $167.86.

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.