Personal CFO Solutions LLC Decreases Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Personal CFO Solutions LLC lessened its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 4.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 39,951 shares of the information services provider's stock after selling 1,838 shares during the quarter. Alphabet makes up about 1.3% of Personal CFO Solutions LLC's portfolio, making the stock its 10th biggest position. Personal CFO Solutions LLC's holdings in Alphabet were worth $6,242,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Opus Capital Group LLC bought a new position in shares of Alphabet in the first quarter worth $269,000. AlphaStar Capital Management LLC boosted its holdings in Alphabet by 5.6% in the 1st quarter. AlphaStar Capital Management LLC now owns 8,815 shares of the information services provider's stock worth $1,377,000 after buying an additional 464 shares during the period. Stratos Investment Management LLC raised its position in shares of Alphabet by 6.2% during the 1st quarter. Stratos Investment Management LLC now owns 25,412 shares of the information services provider's stock valued at $3,970,000 after buying an additional 1,476 shares in the last quarter. May Hill Capital LLC grew its stake in Alphabet by 82.2% in the 1st quarter. May Hill Capital LLC now owns 5,614 shares of the information services provider's stock worth $877,000 after acquiring an additional 2,533 shares in the last quarter. Finally, Navalign LLC boosted its stake in shares of Alphabet by 1.3% during the first quarter. Navalign LLC now owns 8,281 shares of the information services provider's stock valued at $1,294,000 after purchasing an additional 109 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors.

Alphabet Stock Performance

Shares of GOOG stock opened at $177.21 on Tuesday. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.03. The business's fifty day simple moving average is $170.28 and its 200-day simple moving average is $175.29. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $208.70. The company has a market cap of $2.15 trillion, a PE ratio of 19.82, a PEG ratio of 1.27 and a beta of 1.01.

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. Analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 9th were paid a $0.21 dividend. The ex-dividend date was Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a yield of 0.47%. This is a positive change from Alphabet's previous quarterly dividend of $0.20. Alphabet's dividend payout ratio is presently 9.36%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. JPMorgan Chase & Co. raised their target price on shares of Alphabet from $180.00 to $195.00 and gave the stock an "overweight" rating in a report on Friday, April 25th. KeyCorp decreased their price target on shares of Alphabet from $202.00 to $185.00 and set an "overweight" rating for the company in a research note on Wednesday, April 9th. BNP Paribas downgraded shares of Alphabet from a "strong-buy" rating to a "hold" rating in a report on Thursday, June 26th. Westpark Capital reaffirmed a "buy" rating and set a $210.00 price target on shares of Alphabet in a research report on Friday, April 25th. Finally, Rosenblatt Securities upgraded shares of Alphabet from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 25th. Three analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have given a buy rating and six have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $206.38.

Insider Buying and Selling at Alphabet

In other news, Director John L. Hennessy sold 600 shares of the company'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 $105,000.00. Following the completion of the sale, the director directly owned 6,813 shares of the company's stock, valued at $1,192,275. This represents a 8.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Kavitark Ram Shriram sold 9,000 shares of the company's stock in a transaction dated 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 transaction, 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 215,643 shares of company stock worth $36,330,928. 12.99% of the stock is owned by insiders.

About Alphabet

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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