Alphabet Inc. (NASDAQ:GOOG) is HF Advisory Group LLC's 7th Largest Position

HF Advisory Group LLC decreased its position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 6.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 26,469 shares of the information services provider's stock after selling 1,959 shares during the period. Alphabet comprises 1.8% of HF Advisory Group LLC's holdings, making the stock its 7th largest holding. HF Advisory Group LLC's holdings in Alphabet were worth $4,135,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in GOOG. LSV Asset Management acquired a new position in Alphabet during the fourth quarter worth about $27,000. WealthTrak Capital Management LLC bought a new stake in shares of Alphabet during the 4th quarter valued at approximately $38,000. Mountain Hill Investment Partners Corp. bought a new stake in shares of Alphabet during the 4th quarter valued at approximately $39,000. Noble Wealth Management PBC acquired a new position in Alphabet during the 4th quarter worth approximately $43,000. Finally, FPC Investment Advisory Inc. lifted its stake in Alphabet by 287.9% in the 4th quarter. FPC Investment Advisory Inc. now owns 225 shares of the information services provider's stock valued at $46,000 after purchasing an additional 167 shares during the last quarter. 27.26% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on GOOG. Needham & Company LLC cut shares of Alphabet from a "buy" rating to a "cautious" rating in a research note on Friday, May 2nd. Citigroup restated a "sell" rating on shares of Alphabet in a research report on Wednesday, April 23rd. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $220.00 target price on shares of Alphabet in a report on Monday. Rosenblatt Securities raised Alphabet from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 25th. Finally, Oppenheimer boosted their price target on Alphabet from $185.00 to $200.00 and gave the stock an "outperform" rating in a report on Friday, April 25th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating, fourteen have assigned a buy rating and five have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $204.88.

Insider Activity at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of the stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $1,837,500.00. Following the completion of the transaction, the director now directly owns 261,966 shares of the company's stock, valued at approximately $45,844,050. This represents a 3.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $158.56, for a total transaction of $5,153,200.00. Following the sale, the chief executive officer now directly 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. In the last three months, insiders sold 195,770 shares of company stock valued at $32,036,638. 12.99% of the stock is owned by insiders.

Alphabet Stock Up 3.0%

Shares of NASDAQ GOOG traded up $5.11 during midday trading on Friday, hitting $174.92. 22,239,619 shares of the stock traded hands, compared to its average volume of 20,341,992. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. Alphabet Inc. has a one year low of $142.66 and a one year high of $208.70. The business has a 50 day moving average price of $161.56 and a two-hundred day moving average price of $176.09. The company has a market cap of $2.12 trillion, a PE ratio of 21.73, a P/E/G ratio of 1.34 and a beta of 1.01.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.79. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. The business had revenue of $90.23 billion during the quarter, compared to the consensus estimate of $89.30 billion. During the same quarter last year, the firm posted $1.89 EPS. Alphabet's revenue was up 12.0% compared to the same quarter last year. On average, equities analysts predict that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be paid a $0.21 dividend. The ex-dividend date is Monday, June 9th. This is an increase from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 0.48%. Alphabet's dividend payout ratio is 9.36%.

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.