Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Delta Investment Management LLC

Delta Investment Management LLC decreased its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 3.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 63,137 shares of the information services provider's stock after selling 2,533 shares during the quarter. Alphabet comprises 2.3% of Delta Investment Management LLC's holdings, making the stock its 10th largest position. Delta Investment Management LLC's holdings in Alphabet were worth $12,024,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in Alphabet in the fourth quarter valued at $5,166,070,000. Raymond James Financial Inc. acquired a new position in shares of Alphabet in the fourth quarter valued at approximately $1,551,533,000. Northern Trust Corp boosted its holdings in Alphabet by 16.1% in the fourth quarter. Northern Trust Corp now owns 57,098,042 shares of the information services provider's stock valued at $10,873,751,000 after purchasing an additional 7,917,625 shares during the period. GQG Partners LLC raised its position in Alphabet by 181,679.1% in the 4th quarter. GQG Partners LLC now owns 7,225,721 shares of the information services provider's stock valued at $1,376,066,000 after purchasing an additional 7,221,746 shares in the last quarter. Finally, Capital International Investors lifted its position in shares of Alphabet by 6.7% during the 4th quarter. Capital International Investors now owns 91,236,069 shares of the information services provider's stock worth $17,376,706,000 after purchasing an additional 5,758,244 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. The Goldman Sachs Group restated a "buy" rating on shares of Alphabet in a research report on Wednesday, February 5th. JPMorgan Chase & Co. boosted their target price on Alphabet from $180.00 to $195.00 and gave the company an "overweight" rating in a report on Friday, April 25th. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $171.00 price target on shares of Alphabet in a report on Friday, April 25th. Citigroup reiterated a "sell" rating on shares of Alphabet in a research report on Wednesday, April 23rd. Finally, UBS Group cut their price objective on shares of Alphabet from $209.00 to $173.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have assigned a buy rating and five have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $203.94.

Insider Buying and Selling at Alphabet

In other Alphabet news, insider Ruth Porat sold 17,690 shares of Alphabet stock in a transaction on Friday, February 21st. The shares were sold at an average price of $183.48, for a total value of $3,245,761.20. Following the completion of the transaction, the insider now owns 1,449,286 shares of the company's stock, valued at $265,914,995.28. The trade was a 1.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director John L. Hennessy sold 200 shares of the firm's stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $165.53, for a total transaction of $33,106.00. Following the completion of the transaction, the director now owns 7,813 shares in the company, valued at approximately $1,293,285.89. The trade was a 2.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 129,744 shares of company stock worth $20,968,366 over the last quarter. 12.99% of the stock is owned by corporate insiders.

Alphabet Stock Up 0.3%

Shares of NASDAQ:GOOG opened at $167.87 on Tuesday. The firm has a market cap of $2.04 trillion, a PE ratio of 20.85, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01. The company has a fifty day simple moving average of $160.17 and a 200 day simple moving average of $176.74. 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 12-month low of $142.66 and a 12-month high of $208.70.

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

Alphabet Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be issued a $0.21 dividend. This is a positive change from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 0.50%. The ex-dividend date of this dividend is Monday, June 9th. Alphabet's payout ratio is currently 9.36%.

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.

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