Envestnet Portfolio Solutions Inc. reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 17.8% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 209,677 shares of the information services provider's stock after selling 45,410 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Alphabet were worth $32,758,000 as of its most recent filing with the SEC.
Other hedge funds have also recently bought and sold shares of the company. LSV Asset Management acquired a new stake in Alphabet during the 4th quarter worth approximately $27,000. Principia Wealth Advisory LLC grew its stake in shares of Alphabet by 111.8% during the 1st quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock worth $26,000 after acquiring an additional 85 shares in the last quarter. WealthTrak Capital Management LLC bought a new position in shares of Alphabet during the 4th quarter worth approximately $38,000. Mountain Hill Investment Partners Corp. bought a new position in shares of Alphabet during the 4th quarter worth approximately $39,000. Finally, Noble Wealth Management PBC bought a new position in shares of Alphabet during the 4th quarter worth approximately $43,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling at Alphabet
In other news, insider John Kent Walker sold 11,764 shares of Alphabet stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $166.84, for a total transaction of $1,962,705.76. Following the completion of the sale, the insider now owns 49,037 shares of the company's stock, valued at approximately $8,181,333.08. This trade represents a 19.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Amie Thuener O'toole sold 673 shares of Alphabet 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 sale, the chief accounting officer now directly owns 15,303 shares of the company's stock, valued at $2,377,014.99. This represents a 4.21% decrease in their position. The disclosure for this sale can be found here. Insiders sold 195,570 shares of company stock valued at $32,003,532 in the last quarter. 12.99% of the stock is currently owned by insiders.
Alphabet Trading Down 1.8%
Shares of Alphabet stock opened at $173.98 on Friday. The business has a fifty day simple moving average of $166.15 and a two-hundred day simple moving average of $176.43. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $208.70. The company has a market capitalization of $2.11 trillion, a price-to-earnings ratio of 19.40, a P/E/G ratio of 1.23 and a beta of 1.01. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.77 and a quick ratio of 1.77.
Alphabet (NASDAQ:GOOG - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to the consensus estimate of $89.30 billion. During the same quarter last year, the firm posted $1.89 EPS. The company's quarterly revenue was up 12.0% on a year-over-year basis. Research analysts forecast that Alphabet Inc. will post 8.89 EPS for the current year.
Alphabet Increases Dividend
The firm also recently declared 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. The ex-dividend date of this dividend was Monday, June 9th. This represents a $0.84 annualized dividend and a yield of 0.48%. Alphabet's dividend payout ratio (DPR) is currently 9.36%.
Analyst Ratings Changes
Several equities analysts have recently weighed in on GOOG shares. Oppenheimer raised their price target on shares of Alphabet from $185.00 to $200.00 and gave the stock an "outperform" rating in a research note on Friday, April 25th. The Goldman Sachs Group reaffirmed a "buy" rating and set a $220.00 price target on shares of Alphabet in a research note on Monday, June 2nd. 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. Needham & Company LLC cut shares of Alphabet from a "buy" rating to a "cautious" rating in a research note on Friday, May 2nd. Finally, Rosenblatt Securities raised shares of Alphabet from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 25th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating, fourteen have assigned a buy rating and five have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $204.88.
View Our Latest Stock Analysis on Alphabet
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.
See Also
Want to see what other hedge funds are holding GOOG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOG - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Alphabet, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Alphabet wasn't on the list.
While Alphabet currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Today, we are inviting you to take a free peek at our proprietary, exclusive, and up-to-the-minute list of 20 stocks that Wall Street's top analysts hate.
Many of these appear to have good fundamentals and might seem like okay investments, but something is wrong. Analysts smell something seriously rotten about these companies. These are true "Strong Sell" stocks.
Get This Free Report
