Hirtle Callaghan & Co LLC Sells 14,971 Shares of Alphabet Inc. (NASDAQ:GOOG)

Key Points

• Hirtle Callaghan & Co LLC sold 14,971 shares of Alphabet Inc. (GOOG), reducing its position by 24.3% in the first quarter, now holding a total of 46,749 shares valued at approximately $7.3 million.
• Alphabet announced a quarterly dividend of $0.21 per share to be paid on September 15th, representing an annual yield of 0.4% and a payout ratio of 8.95%.
• The company reported $2.31 earnings per share for the last quarter, exceeding estimates, with quarterly revenues reaching $96.43 billion, up 13.8% compared to the previous year.

Hirtle Callaghan & Co LLC decreased its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 24.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 46,749 shares of the information services provider's stock after selling 14,971 shares during the quarter. Alphabet makes up approximately 0.3% of Hirtle Callaghan & Co LLC's portfolio, making the stock its 28th largest holding. Hirtle Callaghan & Co LLC's holdings in Alphabet were worth $7,304,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Principia Wealth Advisory LLC lifted its position 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 purchasing an additional 85 shares during the last quarter. MorganRosel Wealth Management LLC acquired a new stake in Alphabet in the 1st quarter valued at approximately $26,000. LSV Asset Management bought a new position in Alphabet in the 4th quarter worth approximately $27,000. Goodman Advisory Group LLC bought a new position in Alphabet in the 1st quarter worth approximately $32,000. Finally, Greykasell Wealth Strategies Inc. acquired a new position in shares of Alphabet during the first quarter worth approximately $32,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Trading Up 0.2%

Shares of Alphabet stock opened at $197.28 on Friday. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $208.70. The stock has a market capitalization of $2.39 trillion, a P/E ratio of 21.01, a price-to-earnings-growth ratio of 1.31 and a beta of 1.02. The company has a 50-day simple moving average of $181.28 and a 200 day simple moving average of $174.68. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOG - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.19. The firm had revenue of $96.43 billion for the quarter, compared to analysts' expectations of $93.67 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The company's quarterly revenue was up 13.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.89 earnings per share. Research analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet's dividend payout ratio (DPR) is currently 8.95%.

Analyst Ratings Changes

GOOG has been the topic of several research analyst reports. Needham & Company LLC downgraded shares of Alphabet from a "buy" rating to a "cautious" rating in a research note on Friday, May 2nd. Westpark Capital reissued a "buy" rating and issued a $210.00 price target on shares of Alphabet in a report on Friday, April 25th. Scotiabank boosted their price objective on shares of Alphabet from $200.00 to $240.00 and gave the stock a "sector outperform" rating in a report on Tuesday, July 22nd. BNP Paribas cut shares of Alphabet from a "strong-buy" rating to a "hold" rating in a research note on Thursday, June 26th. Finally, JPMorgan Chase & Co. lifted their target price on Alphabet from $200.00 to $232.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Three 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 stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $215.19.

Insiders Place Their Bets

In other news, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $196.23, for a total value of $6,377,475.00. Following the completion of the sale, the chief executive officer directly owned 2,494,892 shares in the company, valued at approximately $489,572,657.16. This trade represents a 1.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Kavitark Ram Shriram sold 15,000 shares of Alphabet stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $185.76, for a total value of $2,786,400.00. Following the completion of the transaction, the director directly owned 240,400 shares of the company's stock, valued at $44,656,704. This represents a 5.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 273,219 shares of company stock valued at $49,474,273. Company 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.

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