Outfitter Financial LLC Sells 1,630 Shares of Alphabet Inc. (NASDAQ:GOOG)

Outfitter Financial LLC decreased its holdings in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 19.4% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,780 shares of the information services provider's stock after selling 1,630 shares during the period. Outfitter Financial LLC's holdings in Alphabet were worth $1,059,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Concentrum Wealth Management increased its position in shares of Alphabet by 0.3% during the fourth quarter. Concentrum Wealth Management now owns 17,328 shares of the information services provider's stock worth $3,300,000 after purchasing an additional 57 shares in the last quarter. JDM Financial Group LLC increased its position in shares of Alphabet by 10.6% during the fourth quarter. JDM Financial Group LLC now owns 593 shares of the information services provider's stock worth $113,000 after purchasing an additional 57 shares in the last quarter. Kidder Stephen W increased its position in shares of Alphabet by 1.6% during the fourth quarter. Kidder Stephen W now owns 3,608 shares of the information services provider's stock worth $687,000 after purchasing an additional 58 shares in the last quarter. Hill Island Financial LLC increased its position in shares of Alphabet by 0.8% during the fourth quarter. Hill Island Financial LLC now owns 7,776 shares of the information services provider's stock worth $1,481,000 after purchasing an additional 59 shares in the last quarter. Finally, Providence Wealth Advisors LLC increased its position in shares of Alphabet by 0.6% during the fourth quarter. Providence Wealth Advisors LLC now owns 10,102 shares of the information services provider's stock worth $1,992,000 after purchasing an additional 60 shares in the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Alphabet Trading Up 0.3%

Shares of NASDAQ GOOG traded up $0.56 during midday trading on Friday, reaching $185.26. 5,568,442 shares of the stock were exchanged, compared to its average volume of 21,486,400. The company has a 50 day simple moving average of $173.39 and a 200 day simple moving average of $174.75. The stock has a market capitalization of $2.25 trillion, a P/E ratio of 20.67, a PEG ratio of 1.28 and a beta of 1.01. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.77 and a current ratio of 1.77. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $208.70.

Alphabet (NASDAQ:GOOG - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.02 by $0.79. The business had revenue of $90.23 billion during the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The business's revenue was up 12.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.89 EPS. As a group, equities analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Increases Dividend

The company also recently declared 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. The ex-dividend date was Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.45%. This is an increase from Alphabet's previous quarterly dividend of $0.20. Alphabet's dividend payout ratio (DPR) is currently 9.36%.

Insider Transactions at Alphabet

In related news, Director John L. Hennessy sold 400 shares of the stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $181.98, for a total transaction of $72,792.00. Following the completion of the transaction, the director owned 6,013 shares of the company's stock, valued at approximately $1,094,245.74. This trade represents a 6.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kavitark Ram Shriram sold 9,000 shares of the firm's stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total transaction of $1,575,000.00. Following the completion of the transaction, the director directly owned 255,400 shares of the company's stock, valued at $44,695,000. This represents a 3.40% decrease in their position. The disclosure for this sale can be found here. Insiders sold 215,843 shares of company stock worth $37,288,490 in the last 90 days. Insiders own 12.99% of the company's stock.

Analysts Set New Price Targets

Several research firms recently issued reports on GOOG. Wells Fargo & Company reissued an "equal weight" rating on shares of Alphabet in a research report on Wednesday, July 9th. BNP Paribas downgraded Alphabet from a "strong-buy" rating to a "hold" rating in a research report on Thursday, June 26th. JPMorgan Chase & Co. upped their target price on Alphabet from $195.00 to $200.00 and gave the company an "overweight" rating in a research report on Friday, July 11th. UBS Group upped their target price on Alphabet from $186.00 to $192.00 and gave the company a "neutral" rating in a research report on Wednesday. Finally, The Goldman Sachs Group reissued a "buy" rating and issued a $220.00 target price on shares of Alphabet in a research report on Monday, June 2nd. Three research analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have given a buy rating and five have given a strong buy rating to the company's stock. According to MarketBeat, Alphabet has a consensus rating of "Moderate Buy" and an average target price of $208.40.

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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