Dakota Wealth Management Cuts Stake in Alphabet Inc. (NASDAQ:GOOG)

Dakota Wealth Management decreased its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 4.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 169,630 shares of the information services provider's stock after selling 7,343 shares during the quarter. Dakota Wealth Management's holdings in Alphabet were worth $26,501,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in GOOG. Brighton Jones LLC lifted its stake in Alphabet by 5.6% in the fourth quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider's stock worth $22,901,000 after acquiring an additional 6,410 shares during the last quarter. Bank Pictet & Cie Europe AG lifted its stake in Alphabet by 4.3% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 506,535 shares of the information services provider's stock worth $96,465,000 after acquiring an additional 20,855 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Alphabet during the 4th quarter worth approximately $1,551,533,000. one8zero8 LLC purchased a new stake in shares of Alphabet during the 4th quarter worth approximately $5,744,000. Finally, Tidemark LLC lifted its position in shares of Alphabet by 13.3% during the 4th quarter. Tidemark LLC now owns 2,293 shares of the information services provider's stock worth $437,000 after buying an additional 270 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company's stock.

Alphabet Trading Up 0.2%

NASDAQ GOOG traded up $0.29 during mid-day trading on Tuesday, reaching $183.10. 23,868,767 shares of the stock were exchanged, compared to its average volume of 21,495,318. The stock has a market capitalization of $2.22 trillion, a PE ratio of 20.41, a PEG ratio of 1.28 and a beta of 1.01. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.77 and a current ratio of 1.77. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $208.70. The business's fifty day simple moving average is $172.19 and its 200 day simple moving average is $174.74.

Alphabet (NASDAQ:GOOG - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping analysts' consensus estimates of $2.02 by $0.79. The company had revenue of $90.23 billion for the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. The business's revenue for the quarter was up 12.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.89 EPS. On average, research analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were issued a $0.21 dividend. This is a boost from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date was Monday, June 9th. This represents a $0.84 annualized dividend and a yield of 0.46%. Alphabet's payout ratio is 9.36%.

Insider Activity

In other news, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $178.52, for a total transaction of $5,801,900.00. Following the completion of the sale, the chief executive officer directly owned 2,559,892 shares of the company's stock, valued at $456,991,919.84. The trade was a 1.25% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director John L. Hennessy sold 600 shares of the business's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $105,000.00. Following the sale, the director directly owned 6,813 shares of the company's stock, valued at approximately $1,192,275. This trade represents a 8.09% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 215,443 shares of company stock valued at $36,298,548 in the last 90 days. 12.99% of the stock is currently owned by insiders.

Analysts Set New Price Targets

GOOG has been the subject of several recent analyst reports. Susquehanna restated a "positive" rating on shares of Alphabet in a research report on Friday, May 2nd. The Goldman Sachs Group restated a "buy" rating and set a $220.00 price objective on shares of Alphabet in a research report on Monday, June 2nd. BNP Paribas downgraded shares of Alphabet from a "strong-buy" rating to a "hold" rating in a research report on Thursday, June 26th. Roth Capital restated a "buy" rating on shares of Alphabet in a research report on Wednesday, July 9th. Finally, Citizens Jmp upgraded shares of Alphabet from a "hold" rating to a "strong-buy" rating in a research report on Thursday, June 26th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating, eighteen have issued a buy rating and six have assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $207.13.

Alphabet Company 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.