Albion Financial Group UT Trims Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Albion Financial Group UT reduced its stake in Alphabet Inc. (NASDAQ:GOOG) by 2.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 11,784 shares of the information services provider’s stock after selling 243 shares during the quarter. Albion Financial Group UT’s holdings in Alphabet were worth $1,794,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of GOOG. Valeo Financial Advisors LLC increased its stake in shares of Alphabet by 2.1% during the first quarter. Valeo Financial Advisors LLC now owns 172,364 shares of the information services provider’s stock worth $26,244,000 after acquiring an additional 3,508 shares during the period. Iyo Bank Ltd. boosted its stake in shares of Alphabet by 19.7% in the first quarter. Iyo Bank Ltd. now owns 87,390 shares of the information services provider’s stock valued at $13,306,000 after buying an additional 14,370 shares in the last quarter. Tradewinds Capital Management LLC raised its position in Alphabet by 11.8% in the first quarter. Tradewinds Capital Management LLC now owns 4,395 shares of the information services provider’s stock worth $669,000 after acquiring an additional 464 shares in the last quarter. Sivia Capital Partners LLC lifted its holdings in Alphabet by 12.1% in the first quarter. Sivia Capital Partners LLC now owns 20,700 shares of the information services provider’s stock valued at $3,152,000 after acquiring an additional 2,231 shares during the period. Finally, Monument Capital Management boosted its position in shares of Alphabet by 5.6% during the 1st quarter. Monument Capital Management now owns 3,517 shares of the information services provider’s stock worth $535,000 after purchasing an additional 188 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Stock Performance

Alphabet stock opened at $187.39 on Thursday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15. Alphabet Inc. has a fifty-two week low of $115.83 and a fifty-two week high of $187.62. The stock has a fifty day moving average of $175.47 and a two-hundred day moving average of $156.57. The company has a market capitalization of $2.32 trillion, a price-to-earnings ratio of 28.74, a PEG ratio of 1.40 and a beta of 1.05.

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. The firm had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $78.75 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The firm’s revenue for the quarter was up 15.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.17 EPS. On average, analysts anticipate that Alphabet Inc. will post 7.6 EPS for the current fiscal year.

Alphabet Dividend Announcement

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

Wall Street Analyst Weigh In

Several brokerages recently commented on GOOG. Oppenheimer raised their price objective on shares of Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research note on Monday, April 8th. Rosenblatt Securities downgraded shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target for the company. in a research report on Friday, June 28th. Stifel Nicolaus upped their price target on Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $165.00 price objective on shares of Alphabet in a report on Thursday, April 11th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $167.86.

Insider Activity

In related news, SVP Prabhakar Raghavan sold 3,262 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $183.99, for a total value of $600,175.38. Following the transaction, the senior vice president now owns 9 shares in the company, valued at $1,655.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $166.67, for a total value of $113,668.94. Following the transaction, the chief accounting officer now owns 29,284 shares in the company, valued at approximately $4,880,764.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Prabhakar Raghavan sold 3,262 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $183.99, for a total value of $600,175.38. Following the sale, the senior vice president now owns 9 shares of the company’s stock, valued at approximately $1,655.91. The disclosure for this sale can be found here. Insiders have sold 146,288 shares of company stock valued at $25,345,053 in the last three months. Corporate insiders own 12.99% of the company’s stock.

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.