Capital Asset Advisory Services LLC Sells 6,384 Shares of Alphabet Inc. (NASDAQ:GOOG)

Capital Asset Advisory Services LLC lessened its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 11.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 48,801 shares of the information services provider's stock after selling 6,384 shares during the quarter. Capital Asset Advisory Services LLC's holdings in Alphabet were worth $7,753,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in Alphabet in the fourth quarter valued at $5,166,070,000. GAMMA Investing LLC grew its stake in shares of Alphabet by 18,562.3% in the first quarter. GAMMA Investing LLC now owns 14,323,323 shares of the information services provider's stock valued at $2,237,733,000 after buying an additional 14,246,573 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Alphabet during the 4th quarter worth $1,551,533,000. Northern Trust Corp grew its stake in Alphabet by 16.1% during the 4th quarter. Northern Trust Corp now owns 57,098,042 shares of the information services provider's stock worth $10,873,751,000 after purchasing an additional 7,917,625 shares in the last quarter. Finally, GQG Partners LLC grew its stake in Alphabet by 181,679.1% during the 4th quarter. GQG Partners LLC now owns 7,225,721 shares of the information services provider's stock worth $1,376,066,000 after purchasing an additional 7,221,746 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on GOOG shares. Rosenblatt Securities raised Alphabet from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 25th. The Goldman Sachs Group reissued a "buy" rating and issued a $220.00 target price on shares of Alphabet in a report on Monday. Westpark Capital reissued a "buy" rating and issued a $210.00 target price on shares of Alphabet in a report on Friday, April 25th. Tigress Financial reissued a "strong-buy" rating on shares of Alphabet in a report on Friday, May 2nd. Finally, Needham & Company LLC downgraded Alphabet from a "buy" rating to a "cautious" rating in a report on Friday, May 2nd. Three analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have issued a buy rating and five have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $204.88.

Alphabet Stock Performance

Shares of GOOG stock traded up $1.68 during trading on Wednesday, reaching $169.39. The company had a trading volume of 18,476,447 shares, compared to its average volume of 20,268,888. The firm's 50 day simple moving average is $161.02 and its two-hundred day simple moving average is $176.18. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. Alphabet Inc. has a one year low of $142.66 and a one year high of $208.70. The company has a market capitalization of $2.06 trillion, a PE ratio of 21.04, a PEG ratio of 1.34 and a beta of 1.01.

Alphabet (NASDAQ:GOOG - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.79. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. The business had revenue of $90.23 billion for the quarter, compared to the consensus estimate of $89.30 billion. During the same quarter last year, the company posted $1.89 earnings per share. Alphabet's quarterly revenue was up 12.0% on a year-over-year basis. Sell-side analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.50%. The ex-dividend date is Monday, June 9th. This is a positive change from Alphabet's previous quarterly dividend of $0.20. Alphabet's dividend payout ratio (DPR) is presently 9.36%.

Insider Transactions at Alphabet

In other news, Director John L. Hennessy sold 200 shares of the company's stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $165.53, for a total value of $33,106.00. Following the sale, the director now owns 7,813 shares of the company's stock, valued at approximately $1,293,285.89. This represents a 2.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Amie Thuener O'toole sold 673 shares of the business's stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total value of $104,537.09. Following the completion of the transaction, the chief accounting officer now directly owns 15,303 shares in the company, valued at approximately $2,377,014.99. This represents a 4.21% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 163,270 shares of company stock valued at $26,553,563. 12.99% of the stock is owned by corporate insiders.

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.