Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Overbrook Management Corp

Overbrook Management Corp trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 6.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 141,959 shares of the information services provider's stock after selling 10,258 shares during the period. Alphabet comprises approximately 5.2% of Overbrook Management Corp's investment portfolio, making the stock its 6th largest holding. Overbrook Management Corp's holdings in Alphabet were worth $22,178,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Principia Wealth Advisory LLC increased its holdings in Alphabet by 111.8% in the 1st quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock worth $26,000 after acquiring an additional 85 shares during the last quarter. LSV Asset Management purchased a new position in Alphabet during the 4th quarter valued at about $27,000. WealthTrak Capital Management LLC purchased a new position in Alphabet during the 4th quarter valued at about $38,000. Mountain Hill Investment Partners Corp. purchased a new position in shares of Alphabet during the fourth quarter worth about $39,000. Finally, Noble Wealth Management PBC purchased a new position in shares of Alphabet during the fourth quarter worth about $43,000. 27.26% of the stock is currently owned by institutional investors.

Alphabet Trading Up 2.2%

Shares of NASDAQ GOOG traded up $3.84 during trading on Friday, reaching $178.27. The stock had a trading volume of 73,956,281 shares, compared to its average volume of 20,984,165. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $208.70. 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 business's 50-day moving average price is $167.82 and its 200-day moving average price is $176.02. The company has a market cap of $2.16 trillion, a P/E ratio of 19.87, a PEG ratio of 1.26 and a beta of 1.01.

Alphabet (NASDAQ:GOOG - Get Free Report) last released its earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping the consensus estimate of $2.02 by $0.79. The firm had revenue of $90.23 billion during 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 revenue for the quarter was up 12.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.89 EPS. On average, equities research analysts predict that Alphabet Inc. will post 8.89 EPS for the current fiscal 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 paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, June 9th. This is an increase 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 is currently 9.36%.

Insider Buying and Selling at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total value of $5,153,200.00. Following the sale, the chief executive officer now owns 2,717,696 shares in the company, valued at $430,917,877.76. This represents a 1.18% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Amie Thuener O'toole sold 673 shares of the stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $155.33, for a total value of $104,537.09. Following the sale, the chief accounting officer now owns 15,303 shares in the company, valued at approximately $2,377,014.99. This trade represents a 4.21% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 216,195 shares of company stock valued at $35,764,898 in the last ninety days. Insiders own 12.99% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Citigroup reissued a "sell" rating on shares of Alphabet in a report on Wednesday, April 23rd. UBS Group lowered their price objective on Alphabet from $209.00 to $173.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. Cantor Fitzgerald restated a "neutral" rating and set a $171.00 target price on shares of Alphabet in a report on Friday, April 25th. Tigress Financial reaffirmed a "strong-buy" rating on shares of Alphabet in a research note on Friday, May 2nd. Finally, Oppenheimer upped their price target on Alphabet from $185.00 to $200.00 and gave the stock an "outperform" rating in a research note on Friday, April 25th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have issued a buy rating and six have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average 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.