Carret Asset Management LLC Sells 567 Shares of Alphabet Inc. (NASDAQ:GOOG)

Carret Asset Management LLC lessened its position in Alphabet Inc. (NASDAQ:GOOG) by 0.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 175,644 shares of the information services provider’s stock after selling 567 shares during the period. Alphabet makes up 3.1% of Carret Asset Management LLC’s portfolio, making the stock its 5th biggest position. Carret Asset Management LLC’s holdings in Alphabet were worth $26,744,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of GOOG. Kennedy Capital Management LLC increased its stake in Alphabet by 13.2% during the 3rd quarter. Kennedy Capital Management LLC now owns 64,711 shares of the information services provider’s stock valued at $8,532,000 after buying an additional 7,556 shares during the period. Royal London Asset Management Ltd. increased its stake in Alphabet by 2.7% during the 3rd quarter. Royal London Asset Management Ltd. now owns 1,925,955 shares of the information services provider’s stock valued at $253,899,000 after buying an additional 51,505 shares during the period. Baker Avenue Asset Management LP increased its stake in Alphabet by 1.4% during the 3rd quarter. Baker Avenue Asset Management LP now owns 24,498 shares of the information services provider’s stock valued at $3,230,000 after buying an additional 341 shares during the period. KB Financial Partners LLC increased its stake in Alphabet by 1.1% during the 3rd quarter. KB Financial Partners LLC now owns 12,795 shares of the information services provider’s stock valued at $1,687,000 after buying an additional 134 shares during the period. Finally, Crestwood Advisors Group LLC increased its stake in Alphabet by 5.4% during the 3rd quarter. Crestwood Advisors Group LLC now owns 359,760 shares of the information services provider’s stock valued at $47,434,000 after buying an additional 18,532 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.

Analyst Ratings Changes

GOOG has been the topic of several research analyst reports. Oppenheimer raised their target price 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. Stifel Nicolaus raised their target price on shares of Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Morgan Stanley restated an “overweight” rating and set a $165.00 price objective on shares of Alphabet in a research report on Thursday, April 11th. Finally, 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, June 28th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $167.86.

Alphabet Stock Performance

Shares of GOOG opened at $187.39 on Thursday. 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 $2.32 trillion, a price-to-earnings ratio of 28.74, a PEG ratio of 1.40 and a beta of 1.05. The company has a 50-day moving average of $175.47 and a two-hundred day moving average of $156.57. Alphabet Inc. has a one year low of $115.83 and a one year high of $187.62.

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, beating the consensus estimate of $1.51 by $0.38. The firm had revenue of $80.54 billion for the quarter, compared to analyst estimates of $78.75 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The company’s revenue for the quarter was up 15.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.17 earnings per share. On average, equities research analysts expect that Alphabet Inc. will post 7.6 earnings per share for the current year.

Alphabet Announces Dividend

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

Insider Activity at Alphabet

In other news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction that occurred 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 of the company’s stock, valued at $4,880,764.28. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction that occurred 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 of the company’s stock, valued at $4,880,764.28. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $157.41, for a total transaction of $3,541,725.00. Following the completion of the transaction, the chief executive officer now directly owns 2,303,011 shares in the company, valued at approximately $362,516,961.51. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 146,288 shares of company stock valued at $25,345,053. 12.99% of the stock is currently owned by corporate insiders.

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.