Cardinal Strategic Wealth Guidance decreased its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 23.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,555 shares of the information services provider's stock after selling 1,715 shares during the quarter. Alphabet comprises about 0.3% of Cardinal Strategic Wealth Guidance's investment portfolio, making the stock its 26th biggest holding. Cardinal Strategic Wealth Guidance's holdings in Alphabet were worth $868,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also added to or reduced their stakes in the company. Westmount Partners LLC increased its position in Alphabet by 5.9% in the first quarter. Westmount Partners LLC now owns 13,573 shares of the information services provider's stock worth $2,121,000 after buying an additional 751 shares in the last quarter. Fulton Breakefield Broenniman LLC boosted its stake in shares of Alphabet by 15.7% in the first quarter. Fulton Breakefield Broenniman LLC now owns 12,526 shares of the information services provider's stock worth $1,957,000 after acquiring an additional 1,698 shares during the period. Financial Security Advisor Inc. boosted its stake in shares of Alphabet by 2.4% in the first quarter. Financial Security Advisor Inc. now owns 6,957 shares of the information services provider's stock worth $1,087,000 after acquiring an additional 165 shares during the period. Platform Technology Partners boosted its stake in shares of Alphabet by 1.9% in the first quarter. Platform Technology Partners now owns 23,083 shares of the information services provider's stock worth $3,606,000 after acquiring an additional 421 shares during the period. Finally, BankPlus Trust Department boosted its stake in Alphabet by 6.8% during the first quarter. BankPlus Trust Department now owns 13,667 shares of the information services provider's stock valued at $2,135,000 after buying an additional 871 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company's stock.
Analyst Ratings Changes
GOOG has been the subject of a number of research reports. Westpark Capital reissued a "buy" rating and set a $210.00 price target on shares of Alphabet in a research note on Friday, April 25th. The Goldman Sachs Group reissued a "buy" rating and set a $220.00 price target on shares of Alphabet in a research note on Monday, June 2nd. Needham & Company LLC lowered Alphabet from a "buy" rating to a "cautious" rating in a research note on Friday, May 2nd. Susquehanna reissued a "positive" rating on shares of Alphabet in a research note 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 assigned a hold rating, eighteen have assigned a buy rating and six have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $207.13.
View Our Latest Report on GOOG
Insiders Place Their Bets
In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $170.87, for a total transaction of $5,553,275.00. Following the transaction, the chief executive officer directly owned 2,620,196 shares in the company, valued at $447,712,890.52. This trade represents a 1.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director John L. Hennessy sold 600 shares of the firm's stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $105,000.00. Following the transaction, the director owned 6,813 shares in the company, valued at $1,192,275. The trade was a 8.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 215,643 shares of company stock worth $36,330,928 in the last ninety days. 12.99% of the stock is owned by company insiders.
Alphabet Price Performance
Shares of GOOG stock opened at $181.31 on Friday. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $208.70. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.77 and a current ratio of 1.77. The firm has a market capitalization of $2.20 trillion, a P/E ratio of 20.21, a P/E/G ratio of 1.27 and a beta of 1.01. The stock has a 50 day moving average price of $171.50 and a 200 day moving average price of $174.92.
Alphabet (NASDAQ:GOOG - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $90.23 billion during the quarter, compared to analyst estimates of $89.30 billion. During the same period last year, the company earned $1.89 EPS. Alphabet's quarterly revenue was up 12.0% compared to the same quarter last year. As a group, sell-side analysts predict 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 was paid on Monday, June 16th. Shareholders 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 0.46%. The ex-dividend date of this dividend was Monday, June 9th. Alphabet's dividend payout ratio (DPR) is presently 9.36%.
About Alphabet
(
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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