Alphabet Inc. $GOOG Shares Sold by Alliance Wealth Advisors LLC UT

Key Points

• Alliance Wealth Advisors LLC UT decreased its stake in Alphabet Inc. by 28.9%, holding 23,724 shares valued at approximately $3.7 million after selling nearly 10,000 shares in the first quarter.
• Other institutional investors, such as Nuveen LLC and GAMMA Investing LLC, significantly increased their holdings, with GAMMA growing its stake by 18,562.3%, now owning over 14 million shares.
• Alphabet announced a quarterly dividend of $0.21 per share, representing an annual yield of 0.4%, which is set to be paid on September 15th to investors of record on September 8th.

Alliance Wealth Advisors LLC UT lessened its stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 28.9% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 23,724 shares of the information services provider's stock after selling 9,644 shares during the quarter. Alliance Wealth Advisors LLC UT's holdings in Alphabet were worth $3,706,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Principia Wealth Advisory LLC lifted its stake in Alphabet by 111.8% during the first quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock worth $26,000 after purchasing an additional 85 shares during the last quarter. MorganRosel Wealth Management LLC purchased a new stake in Alphabet during the first quarter worth approximately $26,000. Greykasell Wealth Strategies Inc. purchased a new stake in Alphabet during the first quarter worth approximately $32,000. Goodman Advisory Group LLC purchased a new position in shares of Alphabet in the 1st quarter valued at $32,000. Finally, Ball & Co Wealth Management Inc. acquired a new stake in Alphabet during the 4th quarter worth $53,000. Hedge funds and other institutional investors own 27.26% of the company's stock.

Alphabet Price Performance

GOOG stock traded up $1.09 on Friday, reaching $204.91. 21,099,072 shares of the company's stock were exchanged, compared to its average volume of 24,041,420. The stock has a fifty day moving average of $185.21 and a 200-day moving average of $174.52. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $208.70. The firm has a market cap of $2.48 trillion, a PE ratio of 21.82, a P/E/G ratio of 1.38 and a beta of 1.02. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.19. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. The company had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.67 billion. During the same quarter in the prior year, the company earned $1.89 earnings per share. Alphabet's revenue was up 13.8% compared to the same quarter last year. As a group, equities analysts predict that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be given a $0.21 dividend. The ex-dividend date is Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.4%. Alphabet's dividend payout ratio (DPR) is currently 8.95%.

Analyst Upgrades and Downgrades

GOOG has been the topic of several research reports. JPMorgan Chase & Co. raised their price objective on Alphabet from $200.00 to $232.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Citigroup reissued a "sell" rating on shares of Alphabet in a research report on Wednesday, April 23rd. Rosenblatt Securities raised Alphabet from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 25th. Citizens Jmp raised Alphabet from a "hold" rating to a "strong-buy" rating in a report on Thursday, June 26th. Finally, UBS Group increased their price objective on Alphabet from $186.00 to $192.00 and gave the company a "neutral" rating in a report on Wednesday, July 16th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have issued a buy rating and five have issued a strong buy rating to the stock. According to data from MarketBeat.com, Alphabet presently has a consensus rating of "Moderate Buy" and an average target price of $215.19.

Insider Activity

In other news, Director Kavitark Ram Shriram sold 18,566 shares of the firm's stock in a transaction on Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $3,448,820.16. Following the completion of the transaction, the director owned 243,400 shares in the company, valued at $45,213,984. This trade represents a 7.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $178.52, for a total value of $5,801,900.00. Following the completion of the transaction, the chief executive officer owned 2,559,892 shares of the company's stock, valued at approximately $456,991,919.84. This represents a 1.25% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 274,819 shares of company stock worth $49,796,547 over the last 90 days. 12.99% of the stock is currently owned by corporate insiders.

About Alphabet

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.