Stratos Wealth Advisors LLC Decreases Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Stratos Wealth Advisors LLC trimmed its stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 2.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 73,001 shares of the information services provider's stock after selling 1,873 shares during the period. Stratos Wealth Advisors LLC's holdings in Alphabet were worth $11,405,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of GOOG. Stratos Investment Management LLC grew its position in Alphabet by 6.2% during the first quarter. Stratos Investment Management LLC now owns 25,412 shares of the information services provider's stock valued at $3,970,000 after acquiring an additional 1,476 shares during the last quarter. May Hill Capital LLC grew its position in Alphabet by 82.2% during the first quarter. May Hill Capital LLC now owns 5,614 shares of the information services provider's stock valued at $877,000 after acquiring an additional 2,533 shares during the last quarter. Navalign LLC grew its position in Alphabet by 1.3% during the first quarter. Navalign LLC now owns 8,281 shares of the information services provider's stock valued at $1,294,000 after acquiring an additional 109 shares during the last quarter. Sigma Investment Counselors Inc. grew its position in Alphabet by 1.0% during the first quarter. Sigma Investment Counselors Inc. now owns 8,288 shares of the information services provider's stock valued at $1,295,000 after acquiring an additional 85 shares during the last quarter. Finally, Walter Public Investments Inc. grew its position in Alphabet by 2.5% during the first quarter. Walter Public Investments Inc. now owns 161,623 shares of the information services provider's stock valued at $25,250,000 after acquiring an additional 3,866 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Lake Street Capital restated a "buy" rating on shares of Alphabet in a report on Wednesday. Wells Fargo & Company reissued an "equal weight" rating on shares of Alphabet in a research report on Wednesday. The Goldman Sachs Group restated a "buy" rating and set a $220.00 price target on shares of Alphabet in a report on Monday, June 2nd. Piper Sandler restated a "neutral" rating on shares of Alphabet in a report on Wednesday. Finally, Barclays restated a "buy" rating on shares of Alphabet in a report on Wednesday. Three analysts have rated the stock with a sell rating, five have issued a hold rating, nineteen have given a buy rating and six have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $207.63.

Insider Activity

In other news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $170.87, for a total transaction of $5,553,275.00. Following the transaction, the chief executive officer directly owned 2,620,196 shares of the company's stock, valued at $447,712,890.52. The trade was a 1.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kavitark Ram Shriram sold 10,500 shares of Alphabet stock in a transaction dated 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 transaction, the director directly owned 261,966 shares in the company, valued at approximately $45,844,050. The trade was a 3.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 215,643 shares of company stock valued at $36,330,928 in the last ninety days. Corporate insiders own 12.99% of the company's stock.

Alphabet Stock Performance

Shares of Alphabet stock traded up $1.04 during trading hours on Thursday, reaching $178.70. 24,504,468 shares of the stock traded hands, compared to its average volume of 24,030,908. The company has a 50 day moving average price of $170.87 and a 200 day moving average price of $175.30. The firm has a market capitalization of $2.17 trillion, a price-to-earnings ratio of 19.92, a P/E/G ratio of 1.23 and a beta of 1.01. Alphabet Inc. has a one year low of $142.66 and a one year high of $208.70. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOG - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.02 by $0.79. The business had revenue of $90.23 billion during the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. The business's quarterly revenue was up 12.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.89 EPS. On average, equities research analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current fiscal 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. This is a boost from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date of this dividend was Monday, June 9th. Alphabet's payout ratio is presently 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.