Greenleaf Trust Sells 11,936 Shares of Alphabet Inc. (NASDAQ:GOOG)

Greenleaf Trust cut its holdings in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 2.9% during the first quarter, according to 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 period. Alphabet accounts for approximately 0.6% of Greenleaf Trust's portfolio, making the stock its 14th biggest holding. Greenleaf Trust's holdings in Alphabet were worth $63,445,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Principia Wealth Advisory LLC boosted its holdings in Alphabet by 111.8% during the first 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 in the last quarter. MorganRosel Wealth Management LLC acquired a new stake in Alphabet during the first quarter valued at approximately $26,000. LSV Asset Management acquired a new stake in Alphabet during the fourth quarter valued at approximately $27,000. Goodman Advisory Group LLC acquired a new stake in Alphabet during the first quarter valued at approximately $32,000. Finally, WealthTrak Capital Management LLC bought a new position in shares of Alphabet in the fourth quarter valued at approximately $38,000. 27.26% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of the stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $1,837,500.00. Following the transaction, the director directly owned 261,966 shares of the company's stock, valued at $45,844,050. This represents a 3.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 transaction, the chief executive officer directly owned 2,620,196 shares in the company, valued at $447,712,890.52. This represents a 1.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 215,643 shares of company stock valued at $36,330,928 in the last three months. 12.99% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on GOOG shares. Needham & Company LLC cut shares of Alphabet from a "buy" rating to a "cautious" rating in a research note on Friday, May 2nd. Raymond James Financial reaffirmed an "outperform" rating on shares of Alphabet in a report on Wednesday. BNP Paribas downgraded Alphabet from a "strong-buy" rating to a "hold" rating in a report on Thursday, June 26th. JPMorgan Chase & Co. upped their price objective on Alphabet from $180.00 to $195.00 and gave the stock an "overweight" rating in a report on Friday, April 25th. Finally, Oppenheimer reaffirmed an "outperform" rating and set 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 given a hold rating, nineteen have assigned a buy rating and six have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $207.63.

Alphabet Stock Performance

Shares of GOOG stock traded up $2.50 on Wednesday, reaching $177.66. The stock had a trading volume of 31,251,906 shares, compared to its average volume of 21,297,234. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.03. The firm's 50-day moving average is $170.54 and its two-hundred day moving average is $175.29. The firm has a market capitalization of $2.16 trillion, a price-to-earnings ratio of 19.81, a P/E/G ratio of 1.25 and a beta of 1.01. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $208.70.

Alphabet (NASDAQ:GOOG - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.79. The firm had revenue of $90.23 billion for 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 business's revenue was up 12.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.89 EPS. On average, research analysts expect that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were issued a $0.21 dividend. This is a boost from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 0.47%. The ex-dividend date was Monday, June 9th. Alphabet's dividend payout ratio is currently 9.36%.

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.