Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Lbp Am Sa

LBP AM SA trimmed its holdings in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 5.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 400,742 shares of the information services provider's stock after selling 21,758 shares during the period. Alphabet comprises about 1.0% of LBP AM SA's holdings, making the stock its 22nd largest position. LBP AM SA's holdings in Alphabet were worth $62,608,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Hutchinson Capital Management CA lifted its holdings in shares of Alphabet by 1.5% in the 4th quarter. Hutchinson Capital Management CA now owns 3,555 shares of the information services provider's stock valued at $677,000 after buying an additional 54 shares during the period. Retirement Planning Co of New England Inc. boosted its holdings in Alphabet by 0.4% in the fourth quarter. Retirement Planning Co of New England Inc. now owns 15,977 shares of the information services provider's stock valued at $3,043,000 after acquiring an additional 56 shares during the last quarter. Concentrum Wealth Management lifted its stake in shares of Alphabet by 0.3% during the fourth quarter. Concentrum Wealth Management now owns 17,328 shares of the information services provider's stock worth $3,300,000 after purchasing an additional 57 shares in the last quarter. JDM Financial Group LLC lifted its stake in shares of Alphabet by 10.6% during the fourth quarter. JDM Financial Group LLC now owns 593 shares of the information services provider's stock worth $113,000 after purchasing an additional 57 shares in the last quarter. Finally, Kidder Stephen W lifted its stake in shares of Alphabet by 1.6% during the fourth quarter. Kidder Stephen W now owns 3,608 shares of the information services provider's stock worth $687,000 after purchasing an additional 58 shares in the last quarter. 27.26% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have commented on the company. Citizens Jmp upgraded Alphabet from a "hold" rating to a "strong-buy" rating in a research note on Thursday, June 26th. Roth Capital restated a "buy" rating on shares of Alphabet in a research note on Wednesday. Oppenheimer restated an "outperform" rating and set a $220.00 price objective (up previously from $200.00) on shares of Alphabet in a research note on Wednesday. Scotiabank reduced their price objective on Alphabet from $232.00 to $200.00 and set a "sector outperform" rating on the stock in a research note on Monday, April 21st. Finally, Piper Sandler reiterated a "neutral" rating on shares of Alphabet in a research note on Wednesday. Three research analysts have rated the stock with a sell rating, five have given a hold rating, eighteen have assigned a buy rating and six have issued a strong buy rating to the company. Based on data from MarketBeat.com, Alphabet currently has a consensus rating of "Moderate Buy" and a consensus target price of $207.13.

Alphabet Stock Performance

Shares of NASDAQ:GOOG traded up $2.61 during trading on Friday, hitting $181.31. 23,949,486 shares of the company traded hands, compared to its average volume of 21,450,262. The stock has a market capitalization of $2.20 trillion, a price-to-earnings ratio of 20.21, a PEG ratio of 1.27 and a beta of 1.01. The business's fifty day moving average is $171.50 and its 200-day moving average is $174.92. Alphabet Inc. has a one year low of $142.66 and a one year high of $208.70. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, beating the consensus estimate 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 $90.23 billion during the quarter, compared to analyst estimates of $89.30 billion. During the same period in the prior year, the company earned $1.89 earnings per share. The business's revenue was up 12.0% compared to the same quarter last year. As a group, equities analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 9th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.46%. This is a positive change from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Monday, June 9th. Alphabet's dividend payout ratio is 9.36%.

Insider Buying and Selling

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $170.87, for a total value of $5,553,275.00. Following the completion of the sale, the chief executive officer directly owned 2,620,196 shares in the company, valued at $447,712,890.52. This represents a 1.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John L. Hennessy sold 600 shares of the company's stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $105,000.00. Following the completion of the sale, the director owned 6,813 shares of the company's stock, valued at $1,192,275. This trade represents a 8.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 215,643 shares of company stock valued at $36,330,928 in the last three months. 12.99% of the stock is currently owned by corporate insiders.

About Alphabet

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.