Ulland Investment Advisors LLC trimmed its stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 14.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 45,258 shares of the information services provider's stock after selling 7,625 shares during the period. Alphabet makes up about 5.9% of Ulland Investment Advisors LLC's portfolio, making the stock its 4th biggest position. Ulland Investment Advisors LLC's holdings in Alphabet were worth $7,071,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also modified their holdings of the stock. Magnolia Private Wealth LLC lifted its stake in shares of Alphabet by 32.6% in the 1st quarter. Magnolia Private Wealth LLC now owns 4,349 shares of the information services provider's stock valued at $679,000 after purchasing an additional 1,070 shares during the last quarter. Alpha Omega Wealth Management LLC lifted its stake in shares of Alphabet by 1.3% in the 1st quarter. Alpha Omega Wealth Management LLC now owns 16,595 shares of the information services provider's stock valued at $2,593,000 after purchasing an additional 215 shares during the last quarter. Investment Partners Asset Management Inc. lifted its stake in shares of Alphabet by 1.0% in the 1st quarter. Investment Partners Asset Management Inc. now owns 8,928 shares of the information services provider's stock valued at $1,395,000 after purchasing an additional 85 shares during the last quarter. Trinity Financial Advisors LLC lifted its stake in shares of Alphabet by 5.0% in the 1st quarter. Trinity Financial Advisors LLC now owns 5,717 shares of the information services provider's stock valued at $893,000 after purchasing an additional 271 shares during the last quarter. Finally, Mainsail Financial Group LLC lifted its stake in shares of Alphabet by 2.0% in the 1st quarter. Mainsail Financial Group LLC now owns 9,672 shares of the information services provider's stock valued at $1,511,000 after purchasing an additional 193 shares during the last quarter. 27.26% of the stock is owned by institutional investors.
Alphabet Trading Down 0.6%
GOOG traded down $1.09 during trading on Friday, hitting $175.88. 20,848,122 shares of the stock were exchanged, compared to its average volume of 20,511,658. The firm has a 50 day simple moving average of $164.57 and a 200 day simple moving average of $176.34. The firm has a market cap of $2.13 trillion, a price-to-earnings ratio of 21.85, a P/E/G ratio of 1.34 and a beta of 1.01. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $208.70. 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 (NASDAQ:GOOG - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping the consensus estimate of $2.02 by $0.79. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The company had revenue of $90.23 billion for the quarter, compared to the consensus estimate of $89.30 billion. During the same period last year, the business posted $1.89 EPS. Alphabet's quarterly revenue was up 12.0% on a year-over-year basis. As a group, equities analysts expect that Alphabet Inc. will post 8.89 EPS for the current year.
Alphabet Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be issued a $0.21 dividend. The ex-dividend date of this dividend is 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 dividend yield of 0.48%. Alphabet's dividend payout ratio (DPR) is currently 9.36%.
Wall Street Analysts Forecast Growth
Several research firms have recently issued reports on GOOG. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $171.00 price objective on shares of Alphabet in a research note on Friday, April 25th. Citigroup reaffirmed a "sell" rating on shares of Alphabet in a research note on Wednesday, April 23rd. KeyCorp reduced their price target on Alphabet from $202.00 to $185.00 and set an "overweight" rating on the stock in a report on Wednesday, April 9th. UBS Group reduced their price target on Alphabet from $209.00 to $173.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. Finally, Tigress Financial reiterated a "strong-buy" rating on shares of Alphabet 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 issued a buy rating and five have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $204.88.
Get Our Latest Stock Report on Alphabet
Insider Activity
In other news, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total value of $5,153,200.00. Following the completion of the sale, the chief executive officer now owns 2,717,696 shares of the company's stock, valued at $430,917,877.76. This trade represents a 1.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John Kent Walker sold 11,764 shares of the firm's stock in a transaction 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 completion of the sale, the insider now directly owns 49,037 shares of the company's stock, valued at $8,181,333.08. The trade was a 19.35% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 195,570 shares of company stock worth $32,003,532. 12.99% of the stock is currently owned by company insiders.
Alphabet 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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