Private Wealth Partners LLC Sells 13,671 Shares of Alphabet Inc. (NASDAQ:GOOG)

Private Wealth Partners LLC cut its stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 9.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 132,396 shares of the information services provider's stock after selling 13,671 shares during the period. Alphabet makes up approximately 1.7% of Private Wealth Partners LLC's holdings, making the stock its 18th biggest position. Private Wealth Partners LLC's holdings in Alphabet were worth $20,684,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. ARQ Wealth Advisors LLC increased its holdings in Alphabet by 39.3% in the 4th quarter. ARQ Wealth Advisors LLC now owns 4,964 shares of the information services provider's stock valued at $945,000 after buying an additional 1,400 shares during the period. Independence Bank of Kentucky increased its stake in Alphabet by 10.2% in the first quarter. Independence Bank of Kentucky now owns 14,907 shares of the information services provider's stock valued at $2,329,000 after acquiring an additional 1,376 shares during the period. Harvest Investment Services LLC increased its stake in Alphabet by 3.3% in the fourth quarter. Harvest Investment Services LLC now owns 4,329 shares of the information services provider's stock valued at $824,000 after acquiring an additional 138 shares during the period. North Forty Two & Co. acquired a new position in Alphabet in the fourth quarter worth about $281,000. Finally, Fermata Advisors LLC lifted its stake in Alphabet by 2.7% during the first quarter. Fermata Advisors LLC now owns 9,771 shares of the information services provider's stock worth $1,527,000 after purchasing an additional 259 shares during the period. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Price Performance

Shares of GOOG stock traded down $6.25 during trading hours on Friday, reaching $167.73. 55,028,071 shares of the company were exchanged, compared to its average volume of 20,577,235. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $208.70. 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 fifty day moving average is $166.31 and its two-hundred day moving average is $176.39. The company has a market cap of $2.04 trillion, a price-to-earnings ratio of 18.70, a P/E/G ratio of 1.18 and a beta of 1.01.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $90.23 billion during the quarter, compared to analysts' expectations of $89.30 billion. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. Alphabet's revenue was up 12.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.89 EPS. Sell-side analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.50%. The ex-dividend date of this dividend was Monday, June 9th. This is a positive change from Alphabet's previous quarterly dividend of $0.20. Alphabet's dividend payout ratio is 9.36%.

Insider Activity at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $176.68, for a total transaction of $5,742,100.00. Following the transaction, the chief executive officer now directly owns 2,555,196 shares in the company, valued at approximately $451,452,029.28. This represents a 1.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider John Kent Walker sold 11,764 shares of the firm's stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $166.84, for a total transaction of $1,962,705.76. Following the completion of the transaction, the insider now directly owns 49,037 shares in the company, valued at $8,181,333.08. This trade represents a 19.35% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 228,070 shares of company stock worth $37,745,632 over the last 90 days. Insiders own 12.99% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Westpark Capital reaffirmed a "buy" rating and set a $210.00 price objective on shares of Alphabet in a report on Friday, April 25th. Tigress Financial restated a "strong-buy" rating on shares of Alphabet in a research report on Friday, May 2nd. Rosenblatt Securities raised Alphabet from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 25th. Susquehanna reiterated a "positive" rating on shares of Alphabet in a research note on Friday, May 2nd. Finally, KeyCorp cut their price objective on Alphabet from $202.00 to $185.00 and set an "overweight" rating for the company in a report on Wednesday, April 9th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating, fourteen have issued a buy rating and five have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $204.88.

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.