Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Marietta Wealth Management LLC

Marietta Wealth Management LLC trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 44.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 90,744 shares of the information services provider's stock after selling 71,230 shares during the quarter. Alphabet accounts for approximately 2.1% of Marietta Wealth Management LLC's portfolio, making the stock its 11th biggest position. Marietta Wealth Management LLC's holdings in Alphabet were worth $14,044,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of GOOGL. Wealth Group Ltd. raised its position in Alphabet by 5.2% in the 4th quarter. Wealth Group Ltd. now owns 1,582 shares of the information services provider's stock valued at $299,000 after purchasing an additional 78 shares in the last quarter. Capital & Planning LLC lifted its stake in Alphabet by 34.3% in the fourth quarter. Capital & Planning LLC now owns 4,383 shares of the information services provider's stock worth $830,000 after acquiring an additional 1,119 shares during the last quarter. Eagle Capital Management LLC lifted its stake in Alphabet by 0.7% in the fourth quarter. Eagle Capital Management LLC now owns 50,132 shares of the information services provider's stock worth $9,490,000 after acquiring an additional 371 shares during the last quarter. Brighton Jones LLC grew its holdings in Alphabet by 3.9% during the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider's stock worth $20,886,000 after acquiring an additional 4,110 shares in the last quarter. Finally, Union Bancaire Privee UBP SA purchased a new stake in shares of Alphabet in the 4th quarter valued at approximately $154,716,000. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O'toole sold 673 shares of the business's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $155.33, for a total transaction of $104,537.09. Following the completion of the transaction, the chief accounting officer now directly owns 15,303 shares of the company's stock, valued at $2,377,014.99. The trade was a 4.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider John Kent Walker sold 11,764 shares of the stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $166.84, for a total value of $1,962,705.76. Following the completion of the transaction, the insider now directly owns 49,037 shares of the company's stock, valued at approximately $8,181,333.08. The trade was a 19.35% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 228,070 shares of company stock worth $37,745,632 over the last ninety days. 11.55% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

GOOGL has been the topic of a number of recent analyst reports. Oppenheimer increased their price objective on Alphabet from $185.00 to $200.00 and gave the company an "outperform" rating in a report on Friday, April 25th. UBS Group set a $195.00 target price on Alphabet in a research report on Friday, April 25th. Wedbush set a $190.00 price objective on Alphabet and gave the company an "outperform" rating in a research note on Tuesday, April 15th. Westpark Capital reissued a "buy" rating and issued a $210.00 price objective on shares of Alphabet in a report on Thursday, May 8th. Finally, Bank of America lifted their target price on shares of Alphabet from $185.00 to $200.00 and gave the company a "buy" rating in a report on Friday, April 25th. Ten research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $200.17.

Alphabet Stock Up 2.3%

GOOGL traded up $3.91 during trading hours on Wednesday, reaching $170.68. 34,362,685 shares of the stock traded hands, compared to its average volume of 30,801,769. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $207.05. The company has a market cap of $2.07 trillion, a price-to-earnings ratio of 19.03, a PEG ratio of 1.05 and a beta of 1.01. 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 firm's fifty day simple moving average is $165.10 and its two-hundred day simple moving average is $174.61.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued 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. The firm had revenue of $76.49 billion during the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. During the same quarter last year, the firm earned $1.89 EPS. As a group, analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 9th were given a dividend of $0.21 per share. This is a positive change from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 0.49%. The ex-dividend date of this dividend was Monday, June 9th. Alphabet's dividend payout ratio is currently 9.36%.

Alphabet Company 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.