Kercheville Advisors LLC Sells 2,195 Shares of Alphabet Inc. (NASDAQ:GOOG)

Kercheville Advisors LLC lowered its stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 3.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,312 shares of the information services provider's stock after selling 2,195 shares during the period. Alphabet accounts for 3.7% of Kercheville Advisors LLC's holdings, making the stock its 8th largest holding. Kercheville Advisors LLC's holdings in Alphabet were worth $8,954,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in GOOG. Consilium Wealth Advisory LLC grew its position in shares of Alphabet by 8.2% in the 1st quarter. Consilium Wealth Advisory LLC now owns 5,216 shares of the information services provider's stock valued at $815,000 after buying an additional 395 shares during the last quarter. Vista Investment Partners LLC lifted its stake in shares of Alphabet by 10.2% in the first quarter. Vista Investment Partners LLC now owns 3,316 shares of the information services provider's stock worth $518,000 after acquiring an additional 308 shares during the period. AA Financial Advisors LLC lifted its stake in shares of Alphabet by 12.0% in the first quarter. AA Financial Advisors LLC now owns 8,553 shares of the information services provider's stock worth $1,336,000 after acquiring an additional 919 shares during the period. Inscription Capital LLC acquired a new stake in Alphabet during the 1st quarter valued at approximately $9,552,000. Finally, Louisbourg Investments Inc. increased its position in Alphabet by 8.7% during the 1st quarter. Louisbourg Investments Inc. now owns 58,578 shares of the information services provider's stock valued at $9,152,000 after purchasing an additional 4,710 shares during the period. Institutional investors and hedge funds own 27.26% of the company's stock.

Alphabet Trading Up 1.2%

GOOG opened at $177.94 on Tuesday. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $208.70. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The company has a market cap of $2.16 trillion, a P/E ratio of 22.10, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01. The company has a fifty day moving average price of $165.19 and a two-hundred day moving average price of $176.43.

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 for the quarter, beating the consensus estimate of $2.02 by $0.79. The firm had revenue of $90.23 billion during the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. The business's revenue was up 12.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.89 earnings per share. Analysts predict that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Increases Dividend

The firm also recently announced 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 is an increase from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 0.47%. Alphabet's payout ratio is presently 9.36%.

Wall Street Analysts Forecast Growth

GOOG has been the topic of a number of recent analyst reports. Oppenheimer boosted their price target on shares of Alphabet from $185.00 to $200.00 and gave the stock an "outperform" rating in a research report on Friday, April 25th. Needham & Company LLC lowered shares of Alphabet from a "buy" rating to a "cautious" rating in a report on Friday, May 2nd. JPMorgan Chase & Co. increased their price target on Alphabet from $180.00 to $195.00 and gave the stock an "overweight" rating in a report on Friday, April 25th. Rosenblatt Securities raised Alphabet from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 25th. Finally, Tigress Financial restated a "strong-buy" rating on shares of Alphabet in a research report on Friday, May 2nd. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have issued a buy rating and five have issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $204.88.

Insider Transactions at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of Alphabet 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 transaction, the chief executive officer now owns 2,587,696 shares of the company's stock, valued at $436,570,192.16. The trade was a 1.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider John Kent Walker sold 11,764 shares of the stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $166.84, for a total value of $1,962,705.76. Following the completion of the sale, the insider now directly owns 49,037 shares of the company's stock, valued at $8,181,333.08. The trade was a 19.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 195,570 shares of company stock valued at $32,003,532 over the last three months. Corporate insiders own 12.99% of the company's stock.

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.

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