Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Greenleaf Trust

Greenleaf Trust trimmed its holdings in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 2.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 406,101 shares of the information services provider's stock after selling 11,936 shares during the quarter. Alphabet makes up about 0.6% of Greenleaf Trust's portfolio, making the stock its 14th biggest position. Greenleaf Trust's holdings in Alphabet were worth $63,445,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of GOOG. LSV Asset Management bought a new position in Alphabet in the fourth quarter worth approximately $27,000. Principia Wealth Advisory LLC raised its stake in 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 acquiring an additional 85 shares during the last quarter. MorganRosel Wealth Management LLC purchased a new position in Alphabet in the 1st quarter worth $26,000. WealthTrak Capital Management LLC purchased a new position in Alphabet in the 4th quarter worth $38,000. Finally, Mountain Hill Investment Partners Corp. purchased a new position in shares of Alphabet during the 4th quarter valued at about $39,000. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on GOOG. UBS Group restated a "buy" rating on shares of Alphabet in a research note on Wednesday. Susquehanna reaffirmed a "positive" rating on shares of Alphabet in a research report on Friday, May 2nd. Westpark Capital reaffirmed a "buy" rating and issued a $210.00 price objective on shares of Alphabet in a research note on Friday, April 25th. Piper Sandler reiterated a "neutral" rating on shares of Alphabet in a report on Wednesday. Finally, Oppenheimer reiterated an "outperform" rating and issued a $220.00 price objective (up previously from $200.00) on shares of Alphabet in a report on Wednesday. Three analysts have rated the stock with a sell rating, five have issued a hold rating, eighteen have issued a buy rating and six have assigned a strong buy rating to the company. According to MarketBeat, Alphabet currently has an average rating of "Moderate Buy" and an average target price of $207.13.

Insider Buying and Selling at Alphabet

In related news, Director Kavitark Ram Shriram sold 10,500 shares of the firm's stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total transaction of $1,837,500.00. Following the sale, the director owned 261,966 shares in the company, valued at approximately $45,844,050. This trade represents a 3.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction that occurred 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 sale, the chief executive officer owned 2,620,196 shares in the company, valued at approximately $447,712,890.52. This trade represents a 1.23% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 215,643 shares of company stock valued at $36,330,928. Corporate insiders own 12.99% of the company's stock.

Alphabet Stock Performance

Shares of GOOG traded up $2.61 during mid-day trading on Friday, hitting $181.31. 23,949,486 shares of the company's stock were exchanged, compared to its average volume of 21,402,384. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $208.70. The firm has a market capitalization of $2.20 trillion, a P/E ratio of 20.21, a P/E/G ratio of 1.25 and a beta of 1.01. The business's 50 day moving average is $171.19 and its two-hundred day moving average is $175.18. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.03.

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. The firm had revenue of $90.23 billion during the quarter, compared to analysts' expectations of $89.30 billion. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The firm's revenue for the quarter was up 12.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.89 earnings per share. On average, equities analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were issued a $0.21 dividend. The ex-dividend date of this dividend was Monday, June 9th. This is a boost from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a yield of 0.46%. Alphabet's dividend payout ratio (DPR) is 9.36%.

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.