Intellectus Partners LLC decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 4.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 72,336 shares of the information services provider's stock after selling 3,405 shares during the period. Alphabet comprises about 2.8% of Intellectus Partners LLC's portfolio, making the stock its 3rd largest holding. Intellectus Partners LLC's holdings in Alphabet were worth $11,301,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. ARQ Wealth Advisors LLC lifted its holdings in Alphabet by 39.3% in the fourth quarter. ARQ Wealth Advisors LLC now owns 4,964 shares of the information services provider's stock worth $945,000 after purchasing an additional 1,400 shares during the period. GPS Wealth Strategies Group LLC lifted its holdings in Alphabet by 6.8% in the fourth quarter. GPS Wealth Strategies Group LLC now owns 16,248 shares of the information services provider's stock worth $3,094,000 after purchasing an additional 1,041 shares during the period. Harvest Investment Services LLC lifted its holdings in Alphabet by 3.3% in the fourth quarter. Harvest Investment Services LLC now owns 4,329 shares of the information services provider's stock worth $824,000 after purchasing an additional 138 shares during the period. North Forty Two & Co. acquired a new stake in Alphabet in the fourth quarter worth about $281,000. Finally, Fermata Advisors LLC lifted its holdings in Alphabet by 2.7% in the first quarter. Fermata Advisors LLC now owns 9,771 shares of the information services provider's stock worth $1,527,000 after purchasing an additional 259 shares during the period. Institutional investors own 27.26% of the company's stock.
Insider Buying and Selling at Alphabet
In other news, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $168.71, for a total transaction of $5,483,075.00. Following the sale, the chief executive officer now owns 2,587,696 shares in the company, valued at $436,570,192.16. This represents a 1.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Amie Thuener O'toole sold 673 shares of the company's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total value of $104,537.09. Following the sale, the chief accounting officer now owns 15,303 shares in the company, valued at approximately $2,377,014.99. This represents a 4.21% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 195,770 shares of company stock worth $32,036,638. Corporate insiders own 12.99% of the company's stock.
Analysts Set New Price Targets
GOOG has been the subject of several research analyst reports. Oppenheimer upped their price objective on shares of Alphabet from $185.00 to $200.00 and gave the stock an "outperform" rating in a report on Friday, April 25th. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $220.00 price objective on shares of Alphabet in a report on Monday. Westpark Capital reaffirmed a "buy" rating and issued a $210.00 price objective on shares of Alphabet in a report on Friday, April 25th. UBS Group cut their price target on shares of Alphabet from $209.00 to $173.00 and set a "neutral" rating for the company in a report on Friday, April 11th. Finally, Cantor Fitzgerald reissued a "neutral" rating and issued a $171.00 price target on shares of Alphabet in a report on Friday, April 25th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating, fourteen have issued a buy rating and five have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $204.88.
Check Out Our Latest Stock Report on GOOG
Alphabet Trading Up 3.0%
Shares of Alphabet stock traded up $5.11 during trading on Friday, hitting $174.92. 22,239,619 shares of the company were exchanged, compared to its average volume of 20,366,494. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The firm's fifty day moving average price is $161.88 and its 200 day moving average price is $176.05. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $208.70. The firm has a market capitalization of $2.12 trillion, a P/E ratio of 21.73, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01.
Alphabet (NASDAQ:GOOG - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.79. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The business had revenue of $90.23 billion during the quarter, compared to analyst estimates of $89.30 billion. During the same period in the previous year, the firm earned $1.89 EPS. Alphabet's quarterly revenue was up 12.0% compared to the same quarter last year. As a group, sell-side analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.
Alphabet Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be paid a $0.21 dividend. This is a boost from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Monday, June 9th. This represents a $0.84 annualized dividend and a yield of 0.48%. Alphabet's payout ratio is presently 9.36%.
Alphabet Company Profile
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Free Report)
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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