Charles Schwab Investment Management Inc. cut its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 0.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 30,807,299 shares of the information services provider's stock after selling 17,008 shares during the quarter. Alphabet makes up approximately 0.9% of Charles Schwab Investment Management Inc.'s portfolio, making the stock its 21st biggest position. Charles Schwab Investment Management Inc. owned 0.25% of Alphabet worth $4,813,024,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also made changes to their positions in GOOG. Principia Wealth Advisory LLC lifted its stake in Alphabet by 111.8% during the first quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock worth $26,000 after purchasing an additional 85 shares during the last quarter. MorganRosel Wealth Management LLC purchased a new stake in Alphabet in the first quarter valued at approximately $26,000. LSV Asset Management purchased a new stake in Alphabet in the fourth quarter valued at approximately $27,000. Goodman Advisory Group LLC purchased a new stake in Alphabet in the first quarter valued at approximately $32,000. Finally, Greykasell Wealth Strategies Inc. purchased a new stake in Alphabet in the first quarter valued at approximately $32,000. 27.26% of the stock is owned by institutional investors and hedge funds.
Alphabet Price Performance
GOOG stock traded up $0.36 on Thursday, reaching $197.28. 14,292,926 shares of the company's stock were exchanged, compared to its average volume of 25,208,792. The stock has a fifty day moving average of $181.28 and a 200-day moving average of $174.68. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $208.70. The firm has a market cap of $2.39 trillion, a PE ratio of 21.01, a P/E/G ratio of 1.31 and a beta of 1.02. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07.
Alphabet (NASDAQ:GOOG - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping analysts' consensus estimates of $2.12 by $0.19. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. The firm had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.67 billion. During the same quarter in the prior year, the company posted $1.89 earnings per share. Alphabet's quarterly revenue was up 13.8% on a year-over-year basis. As a group, equities analysts predict that Alphabet Inc. will post 8.89 EPS for the current fiscal year.
Alphabet Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.4%. Alphabet's dividend payout ratio is 8.95%.
Analyst Upgrades and Downgrades
A number of brokerages have weighed in on GOOG. Wells Fargo & Company reiterated an "equal weight" rating on shares of Alphabet in a research note on Wednesday, July 9th. Lake Street Capital reiterated a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. Piper Sandler reiterated a "neutral" rating on shares of Alphabet in a research note on Wednesday, July 9th. Tigress Financial reissued a "strong-buy" rating on shares of Alphabet in a report on Friday, May 2nd. Finally, Citigroup reissued a "sell" rating on shares of Alphabet in a report on Wednesday, April 23rd. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have issued a buy rating and five have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $215.19.
Get Our Latest Report on Alphabet
Insider Transactions at Alphabet
In other Alphabet news, insider John Kent Walker sold 23,820 shares of the company's stock in a transaction on Monday, August 4th. The stock was sold at an average price of $194.70, for a total value of $4,637,754.00. Following the sale, the insider owned 42,999 shares of the company's stock, valued at approximately $8,371,905.30. This represents a 35.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $196.23, for a total value of $6,377,475.00. Following the completion of the sale, the chief executive officer directly owned 2,494,892 shares in the company, valued at $489,572,657.16. This trade represents a 1.29% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 273,219 shares of company stock worth $49,474,273 over the last ninety days. 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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