Alphabet Inc. (NASDAQ:GOOG) Stock Position Reduced by Osborne Partners Capital Management LLC

Osborne Partners Capital Management LLC lessened its stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 2.7% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 145,386 shares of the information services provider's stock after selling 4,020 shares during the quarter. Alphabet accounts for about 1.3% of Osborne Partners Capital Management LLC's holdings, making the stock its 16th biggest position. Osborne Partners Capital Management LLC's holdings in Alphabet were worth $22,714,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Principia Wealth Advisory LLC increased its holdings 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 buying an additional 85 shares during the last quarter. LSV Asset Management bought a new stake in Alphabet in the fourth quarter worth approximately $27,000. WealthTrak Capital Management LLC bought a new stake in Alphabet in the fourth quarter worth approximately $38,000. Mountain Hill Investment Partners Corp. acquired a new position in shares of Alphabet during the 4th quarter worth $39,000. Finally, Noble Wealth Management PBC bought a new position in shares of Alphabet during the 4th quarter valued at $43,000. Hedge funds and other institutional investors own 27.26% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Oppenheimer lifted their price objective on shares of Alphabet from $185.00 to $200.00 and gave the company an "outperform" rating in a research note on Friday, April 25th. KeyCorp cut their target price on Alphabet from $202.00 to $185.00 and set an "overweight" rating on the stock in a report on Wednesday, April 9th. Rosenblatt Securities upgraded Alphabet from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 25th. Needham & Company LLC lowered Alphabet from a "buy" rating to a "cautious" rating in a report on Friday, May 2nd. Finally, Citigroup reissued a "sell" rating on shares of Alphabet in a research note on Wednesday, April 23rd. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have issued a buy rating and five have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $204.88.

Alphabet Price Performance

Shares of GOOG stock opened at $173.98 on Friday. The stock's fifty day simple moving average is $166.15 and its 200 day simple moving average is $176.43. Alphabet Inc. has a one year low of $142.66 and a one year high of $208.70. The firm has a market cap of $2.11 trillion, a price-to-earnings ratio of 19.40, a P/E/G ratio of 1.23 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.

Alphabet (NASDAQ:GOOG - Get Free Report) last issued its quarterly earnings data 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. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. The company had revenue of $90.23 billion during the quarter, compared to analysts' expectations of $89.30 billion. During the same period last year, the business earned $1.89 earnings per share. The business's revenue was up 12.0% on a year-over-year basis. On average, analysts expect 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. Investors 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. This represents a $0.84 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend was Monday, June 9th. Alphabet's dividend payout ratio (DPR) is currently 9.36%.

Insider Buying and Selling at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $168.71, for a total transaction of $5,483,075.00. Following the completion of the sale, the chief executive officer now directly owns 2,587,696 shares of the company's stock, valued at $436,570,192.16. This trade represents a 1.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Kavitark Ram Shriram sold 10,500 shares of Alphabet stock in a transaction 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 now owns 261,966 shares of the company's stock, valued at approximately $45,844,050. The trade was a 3.85% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 195,570 shares of company stock worth $32,003,532 over the last ninety days. Corporate insiders own 12.99% of the company's stock.

About Alphabet

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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