Alphabet Inc. (NASDAQ:GOOGL) Stock Position Cut by Lattice Capital Management LLC

Lattice Capital Management LLC cut its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 24.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 30,800 shares of the information services provider's stock after selling 10,000 shares during the period. Alphabet accounts for 4.9% of Lattice Capital Management LLC's investment portfolio, making the stock its 5th biggest position. Lattice Capital Management LLC's holdings in Alphabet were worth $4,763,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. von Borstel & Associates Inc. purchased a new stake in Alphabet in the 1st quarter worth approximately $28,000. Financial Gravity Asset Management Inc. purchased a new stake in Alphabet in the 1st quarter worth approximately $39,000. Elite Financial Inc. purchased a new stake in Alphabet in the 1st quarter worth approximately $42,000. Anderson Financial Strategies LLC purchased a new stake in Alphabet in the 4th quarter worth approximately $49,000. Finally, EQ Wealth Advisors LLC purchased a new stake in Alphabet in the 1st quarter worth approximately $49,000. 40.03% of the stock is owned by institutional investors.

Alphabet Stock Up 0.3%

NASDAQ:GOOGL traded up $0.61 during mid-day trading on Thursday, hitting $183.58. 31,918,761 shares of the company's stock were exchanged, compared to its average volume of 32,090,183. Alphabet Inc. has a one year low of $140.53 and a one year high of $207.05. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.77 and a quick ratio of 1.77. The company has a market cap of $2.23 trillion, a PE ratio of 20.40, a P/E/G ratio of 1.28 and a beta of 1.00. The business has a fifty day moving average price of $171.67 and a 200 day moving average price of $173.20.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating analysts' consensus estimates of $2.02 by $0.79. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. The company had revenue of $76.49 billion during the quarter, compared to analyst estimates of $89.30 billion. During the same quarter last year, the company earned $1.89 EPS. Equities analysts predict that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were issued a $0.21 dividend. The ex-dividend date was Monday, June 9th. This is a boost from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 0.46%. Alphabet's payout ratio is 9.36%.

Insiders Place Their Bets

In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of Alphabet 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 completion of the transaction, the director directly owned 261,966 shares of the company's stock, valued at approximately $45,844,050. The trade was a 3.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $184.38, for a total transaction of $5,992,350.00. Following the completion of the transaction, the chief executive officer directly owned 2,527,392 shares of the company's stock, valued at $466,000,536.96. This trade represents a 1.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 215,843 shares of company stock valued at $37,288,490. Insiders own 11.64% of the company's stock.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Sanford C. Bernstein increased their target price on shares of Alphabet from $165.00 to $185.00 and gave the stock a "market perform" rating in a research note on Friday, April 25th. BNP Paribas Exane restated a "neutral" rating and set a $172.00 price objective on shares of Alphabet in a research report on Friday, June 27th. Oppenheimer raised their price objective on shares of Alphabet from $185.00 to $200.00 and gave the company an "outperform" rating in a research report on Friday, April 25th. BMO Capital Markets raised their price objective on shares of Alphabet from $200.00 to $208.00 and gave the company an "outperform" rating in a research report on Tuesday. Finally, Susquehanna lowered their price objective on shares of Alphabet from $225.00 to $220.00 and set a "positive" rating on the stock in a research report on Friday, April 25th. Ten equities research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and four have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $201.41.

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.