Moody Lynn & Lieberson LLC Sells 3,083 Shares of Alphabet Inc. (NASDAQ:GOOG)

Moody Lynn & Lieberson LLC cut its holdings in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 5.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,411 shares of the information services provider's stock after selling 3,083 shares during the period. Moody Lynn & Lieberson LLC's holdings in Alphabet were worth $7,876,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. LaFleur & Godfrey LLC grew its holdings in Alphabet by 1.2% during the fourth quarter. LaFleur & Godfrey LLC now owns 31,967 shares of the information services provider's stock valued at $6,088,000 after purchasing an additional 380 shares during the period. Brighton Jones LLC grew its holdings in Alphabet by 5.6% during the fourth quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider's stock valued at $22,901,000 after purchasing an additional 6,410 shares during the period. Bank Pictet & Cie Europe AG grew its holdings in Alphabet by 4.3% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 506,535 shares of the information services provider's stock valued at $96,465,000 after purchasing an additional 20,855 shares during the period. Nixon Peabody Trust Co. grew its holdings in Alphabet by 0.7% during the fourth quarter. Nixon Peabody Trust Co. now owns 132,436 shares of the information services provider's stock valued at $25,221,000 after purchasing an additional 966 shares during the period. Finally, Onefund LLC grew its holdings in Alphabet by 3.0% during the fourth quarter. Onefund LLC now owns 12,977 shares of the information services provider's stock valued at $2,471,000 after purchasing an additional 377 shares during the period. 27.26% of the stock is owned by institutional investors.

Alphabet Stock Up 1.6%

Shares of NASDAQ:GOOG opened at $179.76 on Thursday. The stock's 50-day moving average price is $169.27 and its 200-day moving average price is $175.84. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $208.70. The stock has a market capitalization of $2.18 trillion, a P/E ratio of 20.04, a price-to-earnings-growth ratio of 1.25 and a beta of 1.01. The company has a current ratio of 1.77, a quick 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.79. The company had revenue of $90.23 billion for the quarter, compared to analysts' expectations of $89.30 billion. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. Alphabet's quarterly revenue was up 12.0% on a year-over-year basis. During the same period last year, the firm earned $1.89 earnings per share. On average, equities analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Increases Dividend

The business also recently disclosed 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 positive change from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 0.47%. Alphabet's dividend payout ratio (DPR) is 9.36%.

Insiders Place Their Bets

In related news, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $176.68, for a total value of $5,742,100.00. Following the completion of the transaction, the chief executive officer directly owned 2,555,196 shares in the company, valued at $451,452,029.28. The trade was a 1.26% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John L. Hennessy sold 600 shares of Alphabet stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $105,000.00. Following the completion of the sale, the director directly owned 6,813 shares of the company's stock, valued at approximately $1,192,275. This trade represents a 8.09% decrease in their position. The disclosure for this sale can be found here. Insiders sold 183,143 shares of company stock worth $30,529,028 over the last three months. Company insiders own 12.99% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. KeyCorp dropped their target price on Alphabet from $202.00 to $185.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 9th. UBS Group dropped their target price on Alphabet from $209.00 to $173.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Tigress Financial restated a "strong-buy" rating on shares of Alphabet in a research report on Friday, May 2nd. JPMorgan Chase & Co. increased their target price on Alphabet from $180.00 to $195.00 and gave the stock an "overweight" rating in a research report on Friday, April 25th. Finally, The Goldman Sachs Group reiterated a "buy" rating and issued a $220.00 price objective on shares of Alphabet in a research report on Monday, June 2nd. Three analysts have rated the stock with a sell rating, five have assigned a hold rating, fourteen have given a buy rating and six have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $206.38.

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.

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