PSI Advisors LLC Decreases Position in Alphabet Inc. (NASDAQ:GOOG)

PSI Advisors LLC decreased its holdings in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 49.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,633 shares of the information services provider's stock after selling 1,594 shares during the period. PSI Advisors LLC's holdings in Alphabet were worth $255,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of GOOG. LSV Asset Management acquired a new position in Alphabet during the 4th quarter worth $27,000. Principia Wealth Advisory LLC raised its position in Alphabet by 111.8% in the 1st quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock valued at $26,000 after purchasing an additional 85 shares in the last quarter. WealthTrak Capital Management LLC purchased a new position in shares of Alphabet in the 4th quarter valued at about $38,000. Mountain Hill Investment Partners Corp. acquired a new position in shares of Alphabet during the fourth quarter worth about $39,000. Finally, Noble Wealth Management PBC acquired a new position in shares of Alphabet during the fourth quarter worth about $43,000. Hedge funds and other institutional investors own 27.26% of the company's stock.

Insider Buying and Selling

In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of the business's stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $1,837,500.00. Following the transaction, the director now directly owns 261,966 shares of the company's stock, valued at approximately $45,844,050. The trade was a 3.85% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $168.71, for a total transaction of $5,483,075.00. Following the transaction, the chief executive officer now owns 2,587,696 shares of the company's stock, valued at approximately $436,570,192.16. The trade was a 1.24% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 195,570 shares of company stock valued at $32,003,532 over the last quarter. 12.99% of the stock is currently owned by insiders.

Alphabet Stock Performance

Shares of GOOG opened at $173.98 on Thursday. The company's 50 day simple moving average is $165.77 and its 200-day simple moving average is $176.42. The firm has a market cap of $2.11 trillion, a PE ratio of 19.40, a price-to-earnings-growth ratio of 1.25 and a beta of 1.01. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $208.70. 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 (NASDAQ:GOOG - Get Free Report) last issued 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. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The firm had revenue of $90.23 billion during the quarter, compared to analysts' expectations of $89.30 billion. During the same quarter in the prior year, the business earned $1.89 EPS. Alphabet's quarterly revenue was up 12.0% compared to the same quarter last year. As a group, equities analysts predict that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were paid a dividend of $0.21 per share. This is an increase from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date was Monday, June 9th. This represents a $0.84 annualized dividend and a dividend yield of 0.48%. Alphabet's dividend payout ratio is 9.36%.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Scotiabank reduced their target price on shares of Alphabet from $232.00 to $200.00 and set a "sector outperform" rating on the stock in a report on Monday, April 21st. KeyCorp dropped their price objective on shares of Alphabet from $202.00 to $185.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 9th. Citigroup restated a "sell" rating on shares of Alphabet in a report on Wednesday, April 23rd. UBS Group lowered their target price on shares of Alphabet from $209.00 to $173.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Finally, Susquehanna reissued a "positive" rating on shares of Alphabet in a report on Friday, May 2nd. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, fourteen have issued a buy rating and five have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $204.88.

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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