Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Carnegie Lake Advisors LLC

Carnegie Lake Advisors LLC lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 5.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 28,847 shares of the information services provider's stock after selling 1,508 shares during the period. Alphabet comprises 1.8% of Carnegie Lake Advisors LLC's investment portfolio, making the stock its 11th largest holding. Carnegie Lake Advisors LLC's holdings in Alphabet were worth $4,507,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. FMR LLC boosted its position in Alphabet by 2.8% during the fourth quarter. FMR LLC now owns 117,991,725 shares of the information services provider's stock worth $22,470,344,000 after purchasing an additional 3,189,592 shares during the period. Geode Capital Management LLC raised its stake in Alphabet by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 104,777,092 shares of the information services provider's stock worth $19,894,651,000 after acquiring an additional 1,219,606 shares in the last quarter. Capital International Investors increased its stake in shares of Alphabet by 6.7% in the fourth quarter. Capital International Investors now owns 91,236,069 shares of the information services provider's stock valued at $17,376,706,000 after buying an additional 5,758,244 shares in the last quarter. Northern Trust Corp increased its stake in shares of Alphabet by 16.1% in the fourth quarter. Northern Trust Corp now owns 57,098,042 shares of the information services provider's stock valued at $10,873,751,000 after buying an additional 7,917,625 shares in the last quarter. Finally, Capital Research Global Investors increased its stake in shares of Alphabet by 0.8% in the fourth quarter. Capital Research Global Investors now owns 39,148,500 shares of the information services provider's stock valued at $7,455,571,000 after buying an additional 294,556 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company's stock.

Alphabet Stock Performance

NASDAQ GOOG traded up $1.24 on Friday, hitting $185.94. 20,915,424 shares of the company traded hands, compared to its average volume of 21,587,144. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.03. The business's 50 day moving average price is $174.02 and its 200-day moving average price is $174.72. The company has a market capitalization of $2.26 trillion, a price-to-earnings ratio of 20.73, a P/E/G ratio of 1.29 and a beta of 1.01. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $208.70.

Alphabet (NASDAQ:GOOG - Get Free Report) last issued its earnings results 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 return on equity of 34.54% and a net margin of 30.86%. The firm had revenue of $90.23 billion for the quarter, compared to analysts' expectations of $89.30 billion. During the same period in the previous year, the firm posted $1.89 earnings per share. The business's revenue was up 12.0% compared to the same quarter last year. Equities analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were paid a dividend of $0.21 per share. This is a boost from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 0.45%. The ex-dividend date was Monday, June 9th. Alphabet's payout ratio is presently 9.36%.

Analyst Ratings Changes

Several equities analysts recently issued reports on GOOG shares. Westpark Capital reiterated a "buy" rating and issued a $210.00 price target on shares of Alphabet in a report on Friday, April 25th. Citigroup restated a "sell" rating on shares of Alphabet in a research note on Wednesday, April 23rd. Raymond James Financial restated an "outperform" rating on shares of Alphabet in a research note on Wednesday, July 9th. Barclays reiterated a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. Finally, Tigress Financial reissued a "strong-buy" rating on shares of Alphabet in a report on Friday, May 2nd. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have assigned a buy rating and five have assigned a strong buy rating to the stock. According to MarketBeat, Alphabet currently has a consensus rating of "Moderate Buy" and an average price target of $208.40.

Insider Buying and Selling at Alphabet

In related news, Director John L. Hennessy sold 600 shares of the business's stock in a transaction that occurred 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 completion of the sale, the director owned 6,813 shares in the company, valued at approximately $1,192,275. The trade was a 8.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $184.38, for a total value of $5,992,350.00. Following the completion of the sale, the chief executive officer owned 2,527,392 shares of the company's stock, valued at $466,000,536.96. The trade was a 1.27% decrease in their position. The disclosure for this sale can be found here. Insiders sold 215,843 shares of company stock worth $37,288,490 over the last 90 days. Company insiders own 12.99% of the company's stock.

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.