Alphabet Inc. (NASDAQ:GOOG) Position Reduced by Guyasuta Investment Advisors Inc.

Guyasuta Investment Advisors Inc. lowered its position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 0.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 388,682 shares of the information services provider's stock after selling 2,953 shares during the quarter. Alphabet accounts for about 4.0% of Guyasuta Investment Advisors Inc.'s holdings, making the stock its 5th largest position. Guyasuta Investment Advisors Inc.'s holdings in Alphabet were worth $60,724,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GOOG. Principia Wealth Advisory LLC grew its position in Alphabet by 111.8% during the first quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock valued at $26,000 after purchasing an additional 85 shares in the last quarter. LSV Asset Management bought a new stake in Alphabet in the fourth quarter worth approximately $27,000. WealthTrak Capital Management LLC bought a new stake in Alphabet in the fourth quarter worth approximately $38,000. Mountain Hill Investment Partners Corp. bought a new stake in Alphabet in the fourth quarter worth approximately $39,000. Finally, Noble Wealth Management PBC bought a new stake in shares of Alphabet during the 4th quarter worth $43,000. 27.26% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Down 1.0%

Shares of GOOG stock traded down $1.72 on Monday, hitting $166.01. The stock had a trading volume of 36,202,053 shares, compared to its average volume of 20,645,192. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.03. The business has a 50 day moving average price of $166.31 and a 200 day moving average price of $176.41. The company has a market cap of $2.01 trillion, a PE ratio of 18.51, a P/E/G ratio of 1.18 and a beta of 1.01. Alphabet Inc. has a one year low of $142.66 and a one year high of $208.70.

Alphabet (NASDAQ:GOOG - Get Free Report) last announced its earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping analysts' consensus estimates 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 firm's revenue was up 12.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.89 earnings per share. Research analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were issued a $0.21 dividend. The ex-dividend date was Monday, June 9th. This is an increase from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a yield of 0.51%. Alphabet's payout ratio is currently 9.36%.

Insider Activity

In related news, insider John Kent Walker sold 11,764 shares of the company's stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $166.84, for a total value of $1,962,705.76. Following the sale, the insider now owns 49,037 shares in the company, valued at $8,181,333.08. This represents a 19.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Amie Thuener O'toole sold 673 shares of the company's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $155.33, for a total value of $104,537.09. Following the completion of the sale, the chief accounting officer now owns 15,303 shares in the company, valued at approximately $2,377,014.99. This represents a 4.21% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 228,070 shares of company stock worth $37,745,632 over the last 90 days. 12.99% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on GOOG shares. Westpark Capital reaffirmed a "buy" rating and set a $210.00 price objective on shares of Alphabet in a report on Friday, April 25th. Scotiabank decreased their price objective on shares of Alphabet from $232.00 to $200.00 and set a "sector outperform" rating for the company in a report on Monday, April 21st. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $171.00 price objective on shares of Alphabet in a report on Friday, April 25th. Needham & Company LLC downgraded shares of Alphabet from a "buy" rating to a "cautious" rating in a report on Friday, May 2nd. Finally, The Goldman Sachs Group reiterated a "buy" rating and set a $220.00 target price on shares of Alphabet in a research note on Monday, June 2nd. Three research 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 stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $204.88.

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.