First Heartland Consultants Inc. Sells 1,865 Shares of Alphabet Inc. (NASDAQ:GOOG)

Key Points

• First Heartland Consultants Inc. has reduced its stake in Alphabet Inc. by 13.8%, now holding 11,627 shares valued at approximately $1.82 million.
• In the latest earnings report, Alphabet posted $2.31 EPS, exceeding estimates, with a revenue increase of 13.8% year-over-year.
• CEO Sundar Pichai and Director Kavitark Ram Shriram recently sold a combined 51,066 shares of stock, reflecting significant insider trading activity.

First Heartland Consultants Inc. reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 13.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,627 shares of the information services provider's stock after selling 1,865 shares during the period. First Heartland Consultants Inc.'s holdings in Alphabet were worth $1,816,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. LSV Asset Management purchased a new stake in shares of Alphabet during the fourth quarter valued at approximately $27,000. Principia Wealth Advisory LLC lifted its position 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 worth $26,000 after buying an additional 85 shares during the last quarter. MorganRosel Wealth Management LLC acquired a new position in shares of Alphabet during the first quarter valued at $26,000. WealthTrak Capital Management LLC acquired a new position in shares of Alphabet during the fourth quarter valued at $38,000. Finally, Goodman Advisory Group LLC acquired a new stake in Alphabet in the first quarter worth about $32,000. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Stock Performance

Shares of NASDAQ GOOG traded up $0.88 during trading hours on Friday, reaching $194.08. The stock had a trading volume of 31,074,800 shares, compared to its average volume of 27,020,362. The business's fifty day moving average is $176.86 and its two-hundred day moving average is $174.67. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.77. The company has a market cap of $2.36 trillion, a price-to-earnings ratio of 20.67, a PEG ratio of 1.32 and a beta of 1.01. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $208.70.

Alphabet (NASDAQ:GOOG - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating analysts' consensus estimates of $2.12 by $0.19. The business had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.67 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. Alphabet's revenue was up 13.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.89 earnings per share. As a group, research analysts expect that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.43%. Alphabet's dividend payout ratio is currently 8.95%.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Needham & Company LLC cut shares of Alphabet from a "buy" rating to a "cautious" rating in a research report on Friday, May 2nd. Cowen restated a "buy" rating on shares of Alphabet in a report on Wednesday, July 9th. Piper Sandler restated a "neutral" rating on shares of Alphabet in a report on Wednesday, July 9th. KeyCorp cut their price objective on Alphabet from $202.00 to $185.00 and set an "overweight" rating on the stock in a report on Wednesday, April 9th. Finally, Citigroup restated a "sell" rating on shares of Alphabet in a report on Wednesday, April 23rd. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have issued a buy rating and five have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Alphabet has a consensus rating of "Moderate Buy" and a consensus price target of $215.19.

Insider Buying and Selling at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the 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 directly owned 2,559,892 shares in the company, valued at $456,991,919.84. This represents a 1.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kavitark Ram Shriram sold 18,566 shares of the stock in a transaction on Friday, July 18th. The stock was 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. This represents a 7.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 249,409 shares of company stock valued at $43,523,710 over the last quarter. Corporate 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.