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

Greenleaf Trust decreased its position in shares of 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 Securities and Exchange Commission (SEC). The institutional investor owned 406,101 shares of the information services provider's stock after selling 11,936 shares during the period. Alphabet accounts for about 0.6% of Greenleaf Trust's investment portfolio, making the stock its 14th largest holding. Greenleaf Trust's holdings in Alphabet were worth $63,445,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Principia Wealth Advisory LLC increased its holdings in shares of Alphabet by 111.8% in the first quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock valued at $26,000 after buying an additional 85 shares in the last quarter. MorganRosel Wealth Management LLC bought a new position in shares of Alphabet in the first quarter valued at $26,000. LSV Asset Management bought a new position in shares of Alphabet in the fourth quarter valued at $27,000. Goodman Advisory Group LLC bought a new position in shares of Alphabet in the first quarter valued at $32,000. Finally, WealthTrak Capital Management LLC bought a new position in shares of Alphabet in the fourth quarter valued at $38,000. Institutional investors own 27.26% of the company's stock.

Insider Activity

In other news, Director John L. Hennessy sold 600 shares of the company's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total transaction of $105,000.00. Following the completion of the transaction, the director owned 6,813 shares of the company's stock, valued at approximately $1,192,275. This represents a 8.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kavitark Ram Shriram sold 10,500 shares of the firm's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $1,837,500.00. Following the transaction, the director owned 261,966 shares of the company's stock, valued at approximately $45,844,050. This represents a 3.85% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 215,643 shares of company stock valued at $36,330,928. Insiders own 12.99% of the company's stock.

Alphabet Stock Performance

Shares of GOOG traded up $0.57 during trading hours on Thursday, reaching $178.23. 10,445,248 shares of the company traded hands, compared to its average volume of 21,300,148. The stock's fifty day moving average is $170.87 and its 200 day moving average is $175.30. The stock has a market cap of $2.16 trillion, a P/E ratio of 19.86, a price-to-earnings-growth ratio of 1.23 and a beta of 1.01. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.77 and a current ratio of 1.77. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $208.70.

Alphabet (NASDAQ:GOOG - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, beating analysts' consensus estimates of $2.02 by $0.79. The business had revenue of $90.23 billion during the quarter, compared to analyst estimates 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 quarter in the prior year, the business earned $1.89 earnings per share. Equities research analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.47%. This is a positive change from Alphabet's previous quarterly dividend of $0.20. Alphabet's dividend payout ratio is currently 9.36%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Oppenheimer reaffirmed an "outperform" rating and issued a $220.00 price target (up previously from $200.00) on shares of Alphabet in a report on Wednesday. Barclays reissued a "buy" rating on shares of Alphabet in a research note on Wednesday. Wells Fargo & Company reissued an "equal weight" rating on shares of Alphabet in a research note on Wednesday. BNP Paribas downgraded shares of Alphabet from a "strong-buy" rating to a "hold" rating in a research note on Thursday, June 26th. Finally, Citizens Jmp raised shares of Alphabet from a "hold" rating to a "strong-buy" rating in a research note on Thursday, June 26th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, nineteen have given a buy rating and six have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $207.63.

Alphabet 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.