Capital Advisory Group Advisory Services LLC reduced its stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 38.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 3,291 shares of the information services provider's stock after selling 2,087 shares during the quarter. Capital Advisory Group Advisory Services LLC's holdings in Alphabet were worth $514,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in the stock. Cassaday & Co Wealth Management LLC increased its holdings in Alphabet by 9.3% during the 4th quarter. Cassaday & Co Wealth Management LLC now owns 28,044 shares of the information services provider's stock worth $5,341,000 after purchasing an additional 2,390 shares during the period. LaFleur & Godfrey LLC grew its position in shares of Alphabet by 1.2% during 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 in the last quarter. Brighton Jones LLC increased its stake in shares of Alphabet by 5.6% during 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 period. Union Bancaire Privee UBP SA acquired a new stake in Alphabet in the fourth quarter valued at approximately $204,262,000. Finally, Ascent Wealth Partners LLC lifted its stake in 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 acquiring 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 Alphabet stock traded down $1.82 during trading on Thursday, reaching $176.97. The company's stock had a trading volume of 17,305,386 shares, compared to its average volume of 20,459,389. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $208.70. The company has a 50-day moving average price of $163.42 and a two-hundred day moving average price of $176.21. The firm has a market cap of $2.15 trillion, a PE ratio of 21.98, 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 data on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, beating 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 firm had revenue of $90.23 billion during the quarter, compared to the consensus estimate of $89.30 billion. During the same period in the prior year, the business earned $1.89 EPS. The firm's revenue was up 12.0% compared to the same quarter last year. On average, analysts forecast 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. Investors of record on Monday, June 9th will be issued a dividend of $0.21 per share. 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 annualized dividend and a dividend yield of 0.47%. Alphabet's dividend payout ratio (DPR) is currently 9.36%.
Insider Activity at Alphabet
In other Alphabet news, insider John Kent Walker sold 11,764 shares of Alphabet 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 of the company's stock, valued at approximately $8,181,333.08. The trade was a 19.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 200 shares of the firm's stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $161.90, for a total value of $32,380.00. Following the completion of the sale, the director now directly owns 7,613 shares of the company's stock, valued at $1,232,544.70. This represents a 2.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 195,570 shares of company stock worth $32,003,532 in the last three months. Insiders own 12.99% of the company's stock.
Wall Street Analyst Weigh In
A number of brokerages have commented on GOOG. KeyCorp dropped their price objective on shares of Alphabet from $202.00 to $185.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 9th. Rosenblatt Securities upgraded shares of Alphabet from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 25th. 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. Citigroup reiterated a "sell" rating on shares of Alphabet in a research note on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. raised their target price on Alphabet from $180.00 to $195.00 and gave the stock an "overweight" rating in a research report on Friday, April 25th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, fourteen have given a buy rating and five have given a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $204.88.
Check Out Our Latest Stock Report on GOOG
About Alphabet
(
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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