Trifecta Capital Advisors LLC lowered its position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 3.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 116,546 shares of the information services provider's stock after selling 4,455 shares during the period. Alphabet makes up about 3.8% of Trifecta Capital Advisors LLC's investment portfolio, making the stock its 8th largest position. Trifecta Capital Advisors LLC's holdings in Alphabet were worth $18,208,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in GOOG. Cassaday & Co Wealth Management LLC increased its stake in shares of Alphabet by 9.3% in the fourth quarter. Cassaday & Co Wealth Management LLC now owns 28,044 shares of the information services provider's stock worth $5,341,000 after buying an additional 2,390 shares during the last quarter. LaFleur & Godfrey LLC increased its stake in shares of Alphabet by 1.2% in the fourth quarter. LaFleur & Godfrey LLC now owns 31,967 shares of the information services provider's stock worth $6,088,000 after buying an additional 380 shares during the last quarter. Brighton Jones LLC increased its stake in shares of Alphabet by 5.6% in the fourth quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider's stock worth $22,901,000 after buying an additional 6,410 shares during the last quarter. Union Bancaire Privee UBP SA bought a new stake in shares of Alphabet in the fourth quarter worth $204,262,000. Finally, Ascent Wealth Partners LLC increased its stake in shares of Alphabet by 246.2% in the fourth quarter. Ascent Wealth Partners LLC now owns 5,698 shares of the information services provider's stock worth $1,085,000 after buying an additional 4,052 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company's stock.
Alphabet Stock Performance
Shares of GOOG opened at $173.98 on Friday. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $208.70. The company has a market cap of $2.11 trillion, a price-to-earnings ratio of 19.40, a price-to-earnings-growth ratio of 1.23 and a beta of 1.01. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.77 and a current ratio of 1.77. The firm has a fifty day moving average of $166.15 and a 200-day moving average of $176.43.
Alphabet (NASDAQ:GOOG - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.79. The business had revenue of $90.23 billion during the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The company's quarterly revenue was up 12.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.89 earnings per share. As a group, equities analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current year.
Alphabet Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 9th were issued a $0.21 dividend. The ex-dividend date of this dividend was Monday, June 9th. This represents a $0.84 annualized dividend and a yield of 0.48%. This is an increase from Alphabet's previous quarterly dividend of $0.20. Alphabet's dividend payout ratio is presently 9.36%.
Insider Buying and Selling
In other Alphabet news, CAO Amie Thuener O'toole sold 673 shares of the business's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $155.33, for a total value of $104,537.09. Following the sale, the chief accounting officer now directly owns 15,303 shares in the company, valued at approximately $2,377,014.99. The trade was a 4.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total transaction of $5,153,200.00. Following the completion of the sale, the chief executive officer now owns 2,717,696 shares in the company, valued at approximately $430,917,877.76. This trade represents a 1.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 195,570 shares of company stock valued at $32,003,532 over the last 90 days. 12.99% of the stock is currently owned by company insiders.
Analysts Set New Price Targets
A number of brokerages recently issued reports on GOOG. Cantor Fitzgerald restated a "neutral" rating and issued a $171.00 price target on shares of Alphabet in a research note on Friday, April 25th. Oppenheimer lifted their price objective on shares of Alphabet from $185.00 to $200.00 and gave the stock an "outperform" rating in a report on Friday, April 25th. Rosenblatt Securities raised shares of Alphabet from a "hold" rating to a "strong-buy" rating in a report on Friday, April 25th. JPMorgan Chase & Co. lifted their price objective on shares of Alphabet from $180.00 to $195.00 and gave the stock an "overweight" rating in a report on Friday, April 25th. Finally, Needham & Company LLC downgraded shares of Alphabet from a "buy" rating to a "cautious" rating in a report on Friday, May 2nd. Three investment analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have assigned a buy rating and five have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $204.88.
Check Out Our Latest Research Report on GOOG
Alphabet Company Profile
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Free Report)
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.
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