Bartlett & CO. Wealth Management LLC Reduces Holdings in Alphabet Inc. $GOOG

Key Points

• Bartlett & CO. Wealth Management LLC decreased its holdings in Alphabet Inc. by 0.3%, reducing its shares to 1,425,595, which makes up 3.5% of its investment portfolio.
• Alphabet recently announced a quarterly dividend of $0.21 per share, resulting in an annualized dividend yield of 0.3% and a payout ratio of 8.95%.
• Alphabet's stock opened at $246.43 with a recent quarterly earnings per share of $2.31, beating analysts' expectations and reflecting a 13.8% revenue growth year-over-year.

Bartlett & CO. Wealth Management LLC lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 0.3% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 1,425,595 shares of the information services provider's stock after selling 3,890 shares during the period. Alphabet makes up 3.5% of Bartlett & CO. Wealth Management LLC's investment portfolio, making the stock its 3rd biggest holding. Bartlett & CO. Wealth Management LLC's holdings in Alphabet were worth $252,887,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC grew its holdings in shares of Alphabet by 5.6% during the 4th quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider's stock worth $22,901,000 after purchasing an additional 6,410 shares in the last quarter. Revisor Wealth Management LLC lifted its position in Alphabet by 107.9% in the first quarter. Revisor Wealth Management LLC now owns 3,659 shares of the information services provider's stock worth $572,000 after purchasing an additional 1,899 shares during the period. Apella Capital LLC boosted its stake in Alphabet by 46.2% during the first quarter. Apella Capital LLC now owns 10,025 shares of the information services provider's stock worth $1,615,000 after buying an additional 3,167 shares in the last quarter. Channel Wealth LLC boosted its stake in Alphabet by 4.2% during the first quarter. Channel Wealth LLC now owns 46,622 shares of the information services provider's stock worth $7,284,000 after buying an additional 1,897 shares in the last quarter. Finally, Sugar Maple Asset Management LLC increased its holdings in Alphabet by 10.9% in the 1st quarter. Sugar Maple Asset Management LLC now owns 1,522 shares of the information services provider's stock valued at $238,000 after buying an additional 150 shares during the period. 27.26% of the stock is owned by institutional investors and hedge funds.

Alphabet Price Performance

Alphabet stock opened at $246.43 on Friday. The business's fifty day moving average is $220.84 and its two-hundred day moving average is $186.43. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The firm has a market cap of $2.98 trillion, a P/E ratio of 26.24, a P/E/G ratio of 1.66 and a beta of 1.00. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $256.70.

Alphabet (NASDAQ:GOOG - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.12 by $0.19. The business had revenue of $96.43 billion during the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same period in the previous year, the business posted $1.89 earnings per share. Equities research analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were paid a $0.21 dividend. The ex-dividend date of this dividend was Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. Alphabet's payout ratio is currently 8.95%.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $184.38, for a total transaction of $5,992,350.00. Following the sale, the chief executive officer directly owned 2,527,392 shares of the company's stock, valued at $466,000,536.96. This represents a 1.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kavitark Ram Shriram sold 18,566 shares of the firm's stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the completion of the sale, the director directly owned 243,400 shares of the company's stock, valued at approximately $45,213,984. This represents a 7.09% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 276,738 shares of company stock worth $59,135,475. Corporate insiders own 12.99% of the company's stock.

Analyst Ratings Changes

GOOG has been the topic of several recent research reports. Cowen reiterated a "buy" rating on shares of Alphabet in a research report on Wednesday, July 9th. Pivotal Research raised their price target on shares of Alphabet from $245.00 to $300.00 and gave the stock a "buy" rating in a research note on Wednesday, September 3rd. Robert W. Baird upped their price objective on Alphabet from $215.00 to $275.00 and gave the company an "outperform" rating in a research note on Monday, September 22nd. Morgan Stanley increased their target price on Alphabet from $210.00 to $270.00 and gave the stock an "overweight" rating in a report on Thursday. Finally, Phillip Securities lowered Alphabet from a "strong-buy" rating to a "moderate buy" rating in a research note on Monday, September 8th. Five equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $235.33.

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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