Private Client Services LLC Trims Stake in Alphabet Inc. (NASDAQ:GOOG)

Private Client Services LLC decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 28.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,194 shares of the information services provider's stock after selling 2,905 shares during the period. Private Client Services LLC's holdings in Alphabet were worth $1,124,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in GOOG. Fiduciary Advisors Inc. purchased a new stake in Alphabet during the fourth quarter valued at about $27,000. LSV Asset Management purchased a new stake in Alphabet during the fourth quarter valued at about $27,000. WealthTrak Capital Management LLC purchased a new stake in Alphabet during the fourth quarter valued at about $38,000. Mountain Hill Investment Partners Corp. purchased a new stake in Alphabet during the fourth quarter valued at about $39,000. Finally, Noble Wealth Management PBC purchased a new stake in Alphabet during the fourth quarter valued at about $43,000. Institutional investors own 27.26% of the company's stock.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O'toole sold 1,374 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $173.47, for a total value of $238,347.78. Following the completion of the transaction, the chief accounting officer now directly owns 15,024 shares in the company, valued at $2,606,213.28. The trade was a 8.38% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John L. Hennessy sold 600 shares of the business's stock in a transaction that occurred 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 transaction, the director now owns 6,813 shares of the company's stock, valued at approximately $1,192,275. The trade was a 8.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 164,533 shares of company stock valued at $26,772,774 in the last ninety days. 12.99% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

GOOG has been the topic of a number of research reports. UBS Group lowered their price target on Alphabet from $209.00 to $173.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Oppenheimer lifted their price objective on Alphabet from $185.00 to $200.00 and gave the stock an "outperform" rating in a report on Friday, April 25th. Benchmark reiterated a "negative" rating on shares of Alphabet in a report on Wednesday, February 5th. The Goldman Sachs Group reiterated a "buy" rating on shares of Alphabet in a report on Wednesday, February 5th. Finally, Westpark Capital reiterated a "buy" rating and issued a $210.00 price objective on shares of Alphabet in a report on Friday, April 25th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have given a buy rating and five have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $203.94.

Alphabet Stock Down 1.2%

Alphabet stock traded down $2.09 during trading hours on Friday, hitting $170.87. 36,230,934 shares of the stock traded hands, compared to its average volume of 20,270,754. The firm's 50-day moving average price is $160.88 and its two-hundred day moving average price is $176.30. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The company has a market cap of $2.07 trillion, a PE ratio of 21.23, a PEG ratio of 1.34 and a beta of 1.01. Alphabet Inc. has a one year low of $142.66 and a one year high of $208.70.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating the consensus estimate 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 business's revenue 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, research analysts forecast that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Increases Dividend

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

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.