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Callan Family Office LLC Trims Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Alphabet logo with Computer and Technology background

Key Points

  • Callan Family Office LLC reduced its stake in Alphabet Inc. by 13.1% in the first quarter, leaving it with a position worth approximately $23.79 million.
  • Despite some decreases in holdings, several hedge funds, including JDM Financial Group LLC and True Wealth Design LLC, have increased their stakes in Alphabet, indicating varying confidence in the company.
  • Alphabet recently announced a quarterly dividend of $0.21 per share, with expectations of strong performance as analysts forecast an average price target of $215.19 for the company's stock.
  • Looking to export and analyze Alphabet data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

Callan Family Office LLC decreased its stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 13.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 152,291 shares of the information services provider's stock after selling 23,043 shares during the quarter. Alphabet makes up about 1.8% of Callan Family Office LLC's investment portfolio, making the stock its 9th largest position. Callan Family Office LLC's holdings in Alphabet were worth $23,792,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also bought and sold shares of GOOG. LSV Asset Management acquired a new position in Alphabet in the fourth quarter worth $27,000. Principia Wealth Advisory LLC lifted its stake in shares of Alphabet by 111.8% during the first quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock valued at $26,000 after acquiring an additional 85 shares during the period. MorganRosel Wealth Management LLC acquired a new position in shares of Alphabet during the first quarter valued at $26,000. Greykasell Wealth Strategies Inc. acquired a new position in shares of Alphabet during the first quarter valued at $32,000. Finally, Goodman Advisory Group LLC acquired a new position in shares of Alphabet during the first quarter valued at $32,000. Institutional investors and hedge funds own 27.26% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on GOOG shares. Roth Capital reaffirmed a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. Citigroup reaffirmed a "sell" rating on shares of Alphabet in a research note on Wednesday, April 23rd. Westpark Capital reaffirmed a "buy" rating and set a $210.00 price target on shares of Alphabet in a research note on Friday, April 25th. JPMorgan Chase & Co. upped their price target on Alphabet from $200.00 to $232.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Finally, UBS Group upped their price target on Alphabet from $186.00 to $192.00 and gave the company a "neutral" rating in a research note on Wednesday, July 16th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have issued a buy rating and five have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Alphabet presently has a consensus rating of "Moderate Buy" and an average target price of $215.19.

Get Our Latest Stock Analysis on GOOG

Alphabet Stock Up 0.4%

Shares of NASDAQ:GOOG traded up $0.79 during mid-day trading on Thursday, reaching $203.82. 17,605,944 shares of the stock were exchanged, compared to its average volume of 24,009,111. 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 $2.46 trillion, a P/E ratio of 21.71, a P/E/G ratio of 1.36 and a beta of 1.02. Alphabet Inc. has a one year low of $142.66 and a one year high of $208.70. The stock's 50 day simple moving average is $183.93 and its 200-day simple moving average is $174.75.

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

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be given 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 dividend payout ratio is 8.95%.

Insider Activity at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total value of $5,801,900.00. Following the completion of the sale, the chief executive officer directly owned 2,559,892 shares of the company's stock, valued at $456,991,919.84. This trade represents a 1.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at 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 value 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. The trade was a 7.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 274,219 shares of company stock valued at $49,674,273. Insiders own 12.99% of the company's stock.

Alphabet Profile

(Free Report)

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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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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