Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Lmcg Investments LLC

Lmcg Investments LLC cut its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 6.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 121,521 shares of the information services provider's stock after selling 7,865 shares during the quarter. Alphabet accounts for approximately 1.3% of Lmcg Investments LLC's holdings, making the stock its 17th biggest position. Lmcg Investments LLC's holdings in Alphabet were worth $18,985,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of GOOG. LSV Asset Management acquired a new stake in shares of Alphabet in the 4th quarter worth $27,000. WealthTrak Capital Management LLC purchased a new position in Alphabet during the fourth quarter worth about $38,000. Mountain Hill Investment Partners Corp. acquired a new stake in Alphabet in the fourth quarter valued at about $39,000. Noble Wealth Management PBC purchased a new stake in Alphabet in the 4th quarter valued at approximately $43,000. Finally, Sellwood Investment Partners LLC purchased a new stake in Alphabet in the 4th quarter valued at approximately $43,000. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GOOG has been the subject of several recent analyst reports. KeyCorp reduced their price target on Alphabet from $202.00 to $185.00 and set an "overweight" rating for the company in a report on Wednesday, April 9th. UBS Group reduced their target price on Alphabet from $209.00 to $173.00 and set a "neutral" rating for the company in a report on Friday, April 11th. The Goldman Sachs Group restated a "buy" rating and set a $220.00 target price on shares of Alphabet in a research report on Monday. Scotiabank cut their price target on shares of Alphabet from $232.00 to $200.00 and set a "sector outperform" rating for the company in a report on Monday, April 21st. Finally, 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 note on Friday, April 25th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, fourteen have assigned a buy rating and five have given a strong buy rating to the company's stock. According to data from MarketBeat, Alphabet currently has a consensus rating of "Moderate Buy" and an average price target of $204.88.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O'toole sold 673 shares of the business's stock in a transaction 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 completion of the transaction, the chief accounting officer now directly owns 15,303 shares in the company, valued at approximately $2,377,014.99. The trade was a 4.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total value of $5,153,200.00. Following the sale, the chief executive officer now owns 2,717,696 shares in the company, valued at $430,917,877.76. This trade represents a 1.18% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 195,770 shares of company stock valued at $32,036,638 in the last ninety days. Insiders own 12.99% of the company's stock.

Alphabet Price Performance

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 20,341,993. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $208.70. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The firm has a 50 day moving average price of $161.56 and a 200 day moving average price of $176.09. The stock has a market capitalization of $2.12 trillion, a price-to-earnings ratio of 21.73, a P/E/G ratio of 1.34 and a beta of 1.01.

Alphabet (NASDAQ:GOOG - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping analysts' consensus estimates of $2.02 by $0.79. The company had revenue of $90.23 billion during the quarter, compared to analysts' expectations of $89.30 billion. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The business's revenue for the quarter 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. On average, equities 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 issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.48%. This is a positive change from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date is Monday, June 9th. Alphabet's dividend payout ratio is 9.36%.

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.