Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Pecaut & CO.

Pecaut & CO. lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 3.5% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 65,132 shares of the information services provider's stock after selling 2,370 shares during the period. Alphabet accounts for about 3.5% of Pecaut & CO.'s portfolio, making the stock its 7th largest position. Pecaut & CO.'s holdings in Alphabet were worth $10,176,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Principia Wealth Advisory LLC boosted its position in Alphabet by 111.8% in 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 bought a new position in Alphabet during the 1st quarter valued at approximately $26,000. LSV Asset Management purchased a new position in shares of Alphabet in the 4th quarter worth $27,000. Goodman Advisory Group LLC purchased a new position in shares of Alphabet in the first quarter valued at about $32,000. Finally, WealthTrak Capital Management LLC bought a new stake in Alphabet during the fourth quarter worth approximately $38,000. Institutional investors own 27.26% of the company's stock.

Analyst Ratings Changes

GOOG has been the topic of several research reports. Citigroup reissued a "sell" rating on shares of Alphabet in a research report on Wednesday, April 23rd. Piper Sandler restated a "neutral" rating on shares of Alphabet in a research report on Wednesday, July 9th. Westpark Capital reaffirmed a "buy" rating and set a $210.00 price target on shares of Alphabet in a research note on Friday, April 25th. Tigress Financial reaffirmed a "strong-buy" rating on shares of Alphabet in a report on Friday, May 2nd. Finally, Raymond James Financial reissued an "outperform" rating on shares of Alphabet in a research report on Wednesday, July 9th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have assigned a buy rating and five have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $208.40.

Alphabet Price Performance

GOOG opened at $184.70 on Friday. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $208.70. The stock has a 50-day moving average price of $173.39 and a 200-day moving average price of $174.75. 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 firm has a market cap of $2.24 trillion, a PE ratio of 20.59, a P/E/G ratio of 1.28 and a beta of 1.01.

Alphabet (NASDAQ:GOOG - Get Free Report) last announced its quarterly earnings results 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 34.54% and a net margin of 30.86%. The firm had revenue of $90.23 billion for the quarter, compared to analyst estimates of $89.30 billion. During the same quarter last year, the firm posted $1.89 earnings per share. The business's revenue for the quarter was up 12.0% on a year-over-year basis. Sell-side analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were issued a dividend of $0.21 per share. This is an increase from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Monday, June 9th. This represents a $0.84 annualized dividend and a yield of 0.45%. Alphabet's dividend payout ratio is 9.36%.

Insider Activity at Alphabet

In other news, Director John L. Hennessy sold 400 shares of the stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $181.98, for a total transaction of $72,792.00. Following the completion of the transaction, the director directly owned 6,013 shares of the company's stock, valued at approximately $1,094,245.74. This represents a 6.24% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $184.38, for a total value of $5,992,350.00. Following the completion of the transaction, the chief executive officer owned 2,527,392 shares in the company, valued at $466,000,536.96. The trade was a 1.27% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 215,843 shares of company stock valued at $37,288,490 in the last three months. 12.99% of the stock is currently owned by company insiders.

Alphabet 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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