Nwam LLC Decreases Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Nwam LLC lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 86.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,888 shares of the information services provider's stock after selling 60,549 shares during the quarter. Nwam LLC's holdings in Alphabet were worth $1,545,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. LSV Asset Management bought a new stake in shares of Alphabet in the 4th quarter worth $27,000. Principia Wealth Advisory LLC raised its position in shares of Alphabet by 111.8% during the first quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock worth $26,000 after purchasing an additional 85 shares during the period. MorganRosel Wealth Management LLC acquired a new stake in shares of Alphabet during the first quarter worth $26,000. WealthTrak Capital Management LLC acquired a new stake in shares of Alphabet during the fourth quarter worth $38,000. Finally, Mountain Hill Investment Partners Corp. acquired a new stake in shares of Alphabet during the fourth quarter worth $39,000. Institutional investors and hedge funds own 27.26% of the company's stock.

Insider Transactions at Alphabet

In related news, Director Kavitark Ram Shriram sold 9,000 shares of the business'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 $1,575,000.00. Following the completion of the sale, the director directly owned 255,400 shares in the company, valued at approximately $44,695,000. The trade was a 3.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $184.38, for a total value of $5,992,350.00. Following the completion of the sale, the chief executive officer owned 2,527,392 shares of the company's stock, valued at approximately $466,000,536.96. This trade represents a 1.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 215,843 shares of company stock worth $37,288,490 over the last quarter. Company insiders own 12.99% of the company's stock.

Analyst Ratings Changes

GOOG has been the topic of several recent analyst reports. Cantor Fitzgerald reissued a "neutral" rating and set a $171.00 price target on shares of Alphabet in a research report on Friday, April 25th. Raymond James Financial restated an "outperform" rating on shares of Alphabet in a research note on Wednesday, July 9th. Oppenheimer restated an "outperform" rating and issued a $220.00 target price (up previously from $200.00) on shares of Alphabet in a research note on Wednesday, July 9th. Cowen restated a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. Finally, UBS Group boosted their target price on Alphabet from $186.00 to $192.00 and gave the company a "neutral" rating in a research note on Wednesday. Three analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have issued a buy rating and five have given a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet currently has a consensus rating of "Moderate Buy" and an average price target of $208.40.

Alphabet Trading Up 0.7%

GOOG stock traded up $1.24 during midday trading on Friday, hitting $185.94. 20,915,424 shares of the company's stock were exchanged, compared to its average volume of 21,587,144. The stock's fifty day moving average price is $174.02 and its 200-day moving average price is $174.72. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.77 and a current ratio of 1.77. The company has a market cap of $2.26 trillion, a PE ratio of 20.73, a price-to-earnings-growth ratio of 1.29 and a beta of 1.01. Alphabet Inc. has a one year low of $142.66 and a one year high of $208.70.

Alphabet (NASDAQ:GOOG - Get Free Report) last released its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.02 by $0.79. The business 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%. Alphabet's quarterly revenue was up 12.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.89 earnings per share. Research analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date was Monday, June 9th. 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.