Alphabet Inc. (NASDAQ:GOOG) Stock Holdings Reduced by Palisade Capital Management LP

Palisade Capital Management LP cut its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 1.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 136,816 shares of the information services provider's stock after selling 1,978 shares during the quarter. Palisade Capital Management LP's holdings in Alphabet were worth $21,375,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in GOOG. Checchi Capital Advisers LLC boosted its position in Alphabet by 1.8% during the 1st quarter. Checchi Capital Advisers LLC now owns 49,996 shares of the information services provider's stock valued at $7,811,000 after purchasing an additional 864 shares during the period. Values Added Financial LLC boosted its position in Alphabet by 13.9% during the 1st quarter. Values Added Financial LLC now owns 10,040 shares of the information services provider's stock valued at $1,569,000 after purchasing an additional 1,222 shares during the period. TKG Advisors LLC boosted its position in Alphabet by 5.4% during the 1st quarter. TKG Advisors LLC now owns 4,098 shares of the information services provider's stock valued at $640,000 after purchasing an additional 210 shares during the period. North Capital Inc. acquired a new position in Alphabet during the 1st quarter valued at approximately $678,000. Finally, Barlow Wealth Partners Inc. boosted its position in Alphabet by 1.1% during the 1st quarter. Barlow Wealth Partners Inc. now owns 261,706 shares of the information services provider's stock valued at $42,881,000 after purchasing an additional 2,904 shares during the period. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Alphabet

In other news, Director Kavitark Ram Shriram sold 9,000 shares of the business's stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $1,575,000.00. Following the sale, the director directly owned 255,400 shares of the company's stock, valued at $44,695,000. The trade was a 3.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John L. Hennessy sold 600 shares of Alphabet stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $105,000.00. Following the transaction, the director owned 6,813 shares in the company, valued at $1,192,275. This represents a 8.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 215,643 shares of company stock valued at $36,330,928 over the last three months. Company insiders own 12.99% of the company's stock.

Alphabet Trading Up 0.3%

Shares of Alphabet stock traded up $0.46 on Friday, reaching $180.22. 13,287,389 shares of the company were exchanged, compared to its average volume of 21,182,530. The stock has a fifty day moving average price of $169.97 and a 200-day moving average price of $175.60. The firm has a market capitalization of $2.19 trillion, a price-to-earnings ratio of 20.09, a price-to-earnings-growth ratio of 1.27 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 Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $208.70.

Alphabet (NASDAQ:GOOG - Get Free Report) last announced its 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 company had revenue of $90.23 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.89 earnings per share. On average, analysts expect that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders 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 is a positive change from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.47%. Alphabet's payout ratio is 9.36%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on GOOG shares. Citizens Jmp upgraded Alphabet from a "hold" rating to a "strong-buy" rating in a research report on Thursday, June 26th. UBS Group reduced 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. Westpark Capital restated a "buy" rating and set a $210.00 price objective on shares of Alphabet in a research report on Friday, April 25th. KeyCorp reduced their price target on Alphabet from $202.00 to $185.00 and set an "overweight" rating for the company in a research report on Wednesday, April 9th. Finally, The Goldman Sachs Group reiterated a "buy" rating and set a $220.00 price target on shares of Alphabet in a research report on Monday, June 2nd. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, fourteen have given a buy rating and six have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $206.38.

Alphabet Company 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.