Choreo LLC Has $31 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Choreo LLC cut its stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 7.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 198,393 shares of the information services provider's stock after selling 16,931 shares during the period. Choreo LLC's holdings in Alphabet were worth $30,997,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. LSV Asset Management bought a new position in shares of Alphabet in the 4th quarter valued at $27,000. Principia Wealth Advisory LLC increased its stake in shares of Alphabet by 111.8% in the 1st quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock valued at $26,000 after purchasing an additional 85 shares during the last quarter. MorganRosel Wealth Management LLC bought a new position in shares of Alphabet in the 1st quarter valued at $26,000. WealthTrak Capital Management LLC bought a new stake in Alphabet during the 4th quarter worth $38,000. Finally, Mountain Hill Investment Partners Corp. bought a new stake in Alphabet during the 4th quarter worth $39,000. 27.26% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total transaction of $5,801,900.00. Following the completion of the transaction, the chief executive officer owned 2,559,892 shares in the company, valued at approximately $456,991,919.84. The trade was a 1.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kavitark Ram Shriram sold 18,566 shares of Alphabet stock in a transaction 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 transaction, the director owned 243,400 shares of the company's stock, valued at $45,213,984. The trade was a 7.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 249,409 shares of company stock valued at $43,523,710 in the last quarter. 12.99% of the stock is owned by company insiders.

Alphabet Price Performance

Shares of NASDAQ GOOG traded down $0.88 during trading hours on Tuesday, reaching $190.27. 6,363,043 shares of the stock traded hands, compared to its average volume of 21,543,137. The company has a market capitalization of $2.31 trillion, a P/E ratio of 21.18, a price-to-earnings-growth ratio of 1.30 and a beta of 1.01. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $208.70. The company's 50-day simple moving average is $174.02 and its two-hundred day simple moving average is $174.50.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its quarterly 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 business had revenue of $90.23 billion for the quarter, compared to analyst estimates of $89.30 billion. During the same period last year, the company earned $1.89 EPS. Alphabet's revenue for the quarter was up 12.0% compared to the same quarter last year. Equities research analysts forecast that Alphabet Inc. will post 8.89 EPS 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. The ex-dividend date was Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a yield of 0.44%. Alphabet's payout ratio is presently 9.36%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on GOOG shares. Needham & Company LLC lowered Alphabet from a "buy" rating to a "cautious" rating in a research report on Friday, May 2nd. KeyCorp decreased their price objective on Alphabet from $202.00 to $185.00 and set an "overweight" rating for the company in a report on Wednesday, April 9th. Westpark Capital restated a "buy" rating and set a $210.00 price objective on shares of Alphabet in a report on Friday, April 25th. Tigress Financial restated a "strong-buy" rating on shares of Alphabet in a report on Friday, May 2nd. Finally, Roth Capital restated a "buy" rating on shares of Alphabet in a report on Wednesday, July 9th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have given a buy rating and five have issued a strong buy rating to the stock. According to MarketBeat.com, Alphabet currently has an average rating of "Moderate Buy" and an average price target of $208.40.

About Alphabet

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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