Alphabet Inc. (NASDAQ:GOOG) Shares Bought by Parallel Advisors LLC

Parallel Advisors LLC increased its holdings in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 5.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 339,085 shares of the information services provider's stock after purchasing an additional 17,070 shares during the quarter. Alphabet accounts for about 1.1% of Parallel Advisors LLC's holdings, making the stock its 13th largest holding. Parallel Advisors LLC's holdings in Alphabet were worth $52,975,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of GOOG. Fiduciary Advisors Inc. acquired a new position in shares of Alphabet during the fourth quarter valued at approximately $27,000. LSV Asset Management acquired a new stake in shares of Alphabet in the fourth quarter valued at approximately $27,000. WealthTrak Capital Management LLC acquired a new stake in Alphabet during the fourth quarter worth $38,000. Mountain Hill Investment Partners Corp. acquired a new stake in Alphabet during the fourth quarter worth $39,000. Finally, Noble Wealth Management PBC purchased a new position in shares of Alphabet during the 4th quarter worth approximately $43,000. Institutional investors and hedge funds own 27.26% of the company's stock.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total transaction 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 trade represents a 1.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Amie Thuener O'toole sold 673 shares of the firm's stock in a transaction on Tuesday, April 1st. The stock was 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 $2,377,014.99. This trade represents a 4.21% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 163,159 shares of company stock worth $26,534,426 over the last quarter. 12.99% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on GOOG shares. Tigress Financial reaffirmed a "strong-buy" rating on shares of Alphabet in a research note on Friday, May 2nd. KeyCorp dropped their price objective on Alphabet from $202.00 to $185.00 and set an "overweight" rating for the company in a research note on Wednesday, April 9th. Westpark Capital reaffirmed a "buy" rating and issued a $210.00 price objective on shares of Alphabet in a research note on Friday, April 25th. Citigroup reaffirmed a "sell" rating on shares of Alphabet in a research note on Wednesday, April 23rd. Finally, Benchmark reaffirmed a "negative" rating on shares of Alphabet in a research note on Wednesday, February 5th. Three analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have assigned a buy rating and five have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $203.94.

Alphabet Stock Performance

Alphabet stock traded down $2.39 during midday trading on Monday, hitting $170.46. 11,226,488 shares of the company's stock were exchanged, compared to its average volume of 20,204,660. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $208.70. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. The stock has a market cap of $2.07 trillion, a price-to-earnings ratio of 21.17, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01. The firm's 50 day simple moving average is $160.88 and its 200 day simple moving average is $176.27.

Alphabet (NASDAQ:GOOG - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping analysts' consensus estimates of $2.02 by $0.79. The business had revenue of $90.23 billion for the quarter, compared to analysts' expectations of $89.30 billion. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The company's revenue was up 12.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.89 EPS. Equities research analysts predict that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be issued a dividend of $0.21 per share. This is a boost from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date is Monday, June 9th. This represents a $0.84 annualized dividend and a dividend yield of 0.49%. Alphabet's dividend payout ratio (DPR) is 9.36%.

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.