Lindbrook Capital LLC reduced its holdings in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 3.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 52,706 shares of the information services provider's stock after selling 2,095 shares during the period. Alphabet accounts for about 0.8% of Lindbrook Capital LLC's investment portfolio, making the stock its 21st largest holding. Lindbrook Capital LLC's holdings in Alphabet were worth $8,234,000 as of its most recent SEC filing.
A number of other large investors also recently bought and sold shares of GOOG. Concentrum Wealth Management raised its stake in Alphabet by 0.3% during the fourth quarter. Concentrum Wealth Management now owns 17,328 shares of the information services provider's stock valued at $3,300,000 after purchasing an additional 57 shares in the last quarter. JDM Financial Group LLC raised its stake in shares of Alphabet by 10.6% in the fourth quarter. JDM Financial Group LLC now owns 593 shares of the information services provider's stock valued at $113,000 after acquiring an additional 57 shares during the period. Kidder Stephen W increased its stake in Alphabet by 1.6% in the 4th quarter. Kidder Stephen W now owns 3,608 shares of the information services provider's stock worth $687,000 after buying an additional 58 shares during the period. Hill Island Financial LLC increased its stake in Alphabet by 0.8% in the 4th quarter. Hill Island Financial LLC now owns 7,776 shares of the information services provider's stock worth $1,481,000 after buying an additional 59 shares during the period. Finally, Providence Wealth Advisors LLC increased its stake in Alphabet by 0.6% in the 4th quarter. Providence Wealth Advisors LLC now owns 10,102 shares of the information services provider's stock worth $1,992,000 after buying an additional 60 shares during the period. 27.26% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several research analysts have issued reports on GOOG shares. BNP Paribas cut shares of Alphabet from a "strong-buy" rating to a "hold" rating in a report on Thursday, June 26th. JPMorgan Chase & Co. raised their price target on shares of Alphabet from $195.00 to $200.00 and gave the company an "overweight" rating in a report on Friday, July 11th. Scotiabank decreased their price objective on shares of Alphabet from $232.00 to $200.00 and set a "sector outperform" rating for the company in a research report on Monday, April 21st. Cowen reissued a "buy" rating on shares of Alphabet in a research report on Wednesday, July 9th. Finally, Citizens Jmp raised shares of Alphabet from a "hold" rating to a "strong-buy" rating in a research report on Thursday, June 26th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have issued a buy rating and five have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $208.40.
Check Out Our Latest Report on GOOG
Insider Activity at Alphabet
In related news, Director John L. Hennessy sold 600 shares of the company's stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $105,000.00. Following the completion of the transaction, the director directly owned 6,813 shares of the company's stock, valued at $1,192,275. This represents a 8.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Kavitark Ram Shriram sold 10,500 shares of the company's stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $1,837,500.00. Following the completion of the transaction, the director directly owned 261,966 shares of the company's stock, valued at $45,844,050. This trade represents a 3.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 215,843 shares of company stock valued at $37,288,490 over the last three months. 12.99% of the stock is owned by corporate insiders.
Alphabet Stock Up 0.7%
Shares of Alphabet stock traded up $1.24 on Friday, reaching $185.94. 20,915,424 shares of the company were exchanged, compared to its average volume of 21,587,144. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $208.70. The company has a market cap of $2.26 trillion, a P/E ratio of 20.73, a price-to-earnings-growth ratio of 1.30 and a beta of 1.01. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.77 and a quick ratio of 1.77. The stock's 50 day moving average price is $174.02 and its 200-day moving average price is $174.61.
Alphabet (NASDAQ:GOOG - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping analysts' consensus estimates of $2.02 by $0.79. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. The business had revenue of $90.23 billion during the quarter, compared to the consensus estimate of $89.30 billion. During the same period in the previous year, the company posted $1.89 earnings per share. The business's revenue for the quarter was up 12.0% on a year-over-year basis. As a group, equities analysts forecast that Alphabet Inc. will post 8.89 EPS for the current year.
Alphabet Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was 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 0.45%. Alphabet's payout ratio is currently 9.36%.
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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