Alphabet Inc. $GOOG Stock Position Lowered by AlTi Global Inc.

Key Points

• AlTi Global Inc. has reduced its stake in Alphabet Inc. by 9.1%, selling 8,395 shares during the 1st quarter, leaving it with 84,362 shares valued at approximately $13.18 million.
• Several institutional investors, including Vanguard Group and JPMorgan Chase, have increased their stakes in Alphabet, with Vanguard now holding over 411 million shares worth nearly $64.3 billion.
• In the latest earnings report, Alphabet exceeded expectations with an EPS of $2.31 and revenue of $96.43 billion, up 13.8% year-over-year.

AlTi Global Inc. lowered its stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 9.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 84,362 shares of the information services provider's stock after selling 8,395 shares during the quarter. AlTi Global Inc.'s holdings in Alphabet were worth $13,179,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the stock. Principia Wealth Advisory LLC grew its stake in Alphabet by 111.8% during the 1st quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock valued at $26,000 after purchasing an additional 85 shares in the last quarter. MorganRosel Wealth Management LLC acquired a new stake in Alphabet during the 1st quarter valued at approximately $26,000. Goodman Advisory Group LLC acquired a new stake in Alphabet during the 1st quarter valued at approximately $32,000. Greykasell Wealth Strategies Inc. acquired a new stake in Alphabet during the 1st quarter valued at approximately $32,000. Finally, Elevate Wealth Advisory Inc. acquired a new stake in Alphabet during the 1st quarter valued at approximately $34,000. Institutional investors and hedge funds own 27.26% of the company's stock.

Insiders Place Their Bets

In other Alphabet news, Director Kavitark Ram Shriram sold 15,000 shares of Alphabet stock in a transaction on Friday, July 18th. The stock was sold at an average price of $185.76, for a total transaction of $2,786,400.00. Following the sale, the director owned 240,400 shares of the company's stock, valued at $44,656,704. The trade was a 5.87% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John Kent Walker sold 23,820 shares of the business's stock in a transaction on Monday, August 4th. The stock was sold at an average price of $194.70, for a total value of $4,637,754.00. Following the completion of the sale, the insider directly owned 42,999 shares in the company, valued at $8,371,905.30. This represents a 35.65% decrease in their position. The disclosure for this sale can be found here. Insiders sold 254,710 shares of company stock worth $49,208,380 over the last 90 days. Insiders own 12.99% of the company's stock.

Alphabet Stock Performance

Alphabet stock traded up $2.51 during mid-day trading on Friday, hitting $235.17. 26,091,032 shares of the company's stock traded hands, compared to its average volume of 21,868,892. The firm has a 50 day moving average price of $196.65 and a 200 day moving average price of $176.89. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The company has a market cap of $2.84 trillion, a PE ratio of 25.04, a price-to-earnings-growth ratio of 1.57 and a beta of 1.01. Alphabet Inc. has a one year low of $142.66 and a one year high of $236.13.

Alphabet (NASDAQ:GOOG - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.19. The firm had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.67 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The firm's revenue for the quarter was up 13.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.89 EPS. On average, equities analysts forecast that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.4%. Alphabet's payout ratio is presently 8.95%.

Analyst Ratings Changes

A number of brokerages have weighed in on GOOG. UBS Group raised their price objective on Alphabet from $186.00 to $192.00 and gave the company a "neutral" rating in a research note on Wednesday, July 16th. Piper Sandler reiterated a "neutral" rating on shares of Alphabet in a research report on Wednesday, July 9th. BNP Paribas lowered Alphabet from a "strong-buy" rating to a "hold" rating in a research report on Thursday, June 26th. Oppenheimer reiterated an "outperform" rating and issued a $270.00 target price (up previously from $235.00) on shares of Alphabet in a research report on Wednesday. Finally, KeyCorp set a $265.00 target price on Alphabet in a research report on Wednesday. Five investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $227.56.

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.