Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Miller Financial Services LLC

Miller Financial Services LLC lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 52.3% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,750 shares of the information services provider's stock after selling 4,115 shares during the quarter. Miller Financial Services LLC's holdings in Alphabet were worth $586,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Concentrum Wealth Management increased its position in shares of Alphabet by 0.3% in the fourth quarter. Concentrum Wealth Management now owns 17,328 shares of the information services provider's stock worth $3,300,000 after acquiring an additional 57 shares in the last quarter. JDM Financial Group LLC increased its position in shares of Alphabet by 10.6% in the fourth quarter. JDM Financial Group LLC now owns 593 shares of the information services provider's stock worth $113,000 after acquiring an additional 57 shares in the last quarter. Kidder Stephen W increased its position in shares of Alphabet by 1.6% in the fourth quarter. Kidder Stephen W now owns 3,608 shares of the information services provider's stock worth $687,000 after acquiring an additional 58 shares in the last quarter. Hill Island Financial LLC increased its position in shares of Alphabet by 0.8% in the fourth quarter. Hill Island Financial LLC now owns 7,776 shares of the information services provider's stock worth $1,481,000 after acquiring an additional 59 shares in the last quarter. Finally, Providence Wealth Advisors LLC increased its position in shares of Alphabet by 0.6% in the fourth quarter. Providence Wealth Advisors LLC now owns 10,102 shares of the information services provider's stock worth $1,992,000 after acquiring an additional 60 shares in the last quarter. Institutional investors own 27.26% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on GOOG. Tigress Financial restated a "strong-buy" rating on shares of Alphabet in a research note on Friday, May 2nd. Wells Fargo & Company reissued an "equal weight" rating on shares of Alphabet in a report on Wednesday, July 9th. Citizens Jmp raised shares of Alphabet from a "hold" rating to a "strong-buy" rating in a report on Thursday, June 26th. Cantor Fitzgerald restated a "neutral" rating and issued a $171.00 target price on shares of Alphabet in a research note on Friday, April 25th. Finally, Oppenheimer upped their price target on shares of Alphabet from $200.00 to $220.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 9th. Three analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have assigned a buy rating and five 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 target price of $211.07.

Insiders Place Their Bets

In other news, Director John L. Hennessy sold 400 shares of the business's stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $181.98, for a total value of $72,792.00. Following the completion of the transaction, the director owned 6,013 shares of the company's stock, valued at $1,094,245.74. The trade was a 6.24% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Kavitark Ram Shriram sold 18,566 shares of the company's stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $3,448,820.16. Following the completion of the transaction, the director directly owned 243,400 shares of the company's stock, valued at $45,213,984. The trade was a 7.09% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 249,409 shares of company stock valued at $43,523,710. 12.99% of the stock is owned by company insiders.

Alphabet Price Performance

Alphabet stock traded up $0.96 during midday trading on Tuesday, reaching $192.11. 26,133,333 shares of the stock traded hands, compared to its average volume of 21,617,580. The stock's fifty day moving average is $174.02 and its 200-day moving average is $174.50. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $208.70. The stock has a market cap of $2.33 trillion, a P/E ratio of 21.42, a PEG ratio of 1.30 and a beta of 1.01. 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 issued its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.79. The firm had revenue of $90.23 billion for the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. The company's revenue for the quarter was up 12.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.89 earnings per share. As a group, equities research analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders 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 represents a $0.84 dividend on an annualized basis and a yield of 0.44%. This is a boost from Alphabet's previous quarterly dividend of $0.20. Alphabet's payout ratio is currently 9.36%.

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.