RAM Investment Partners LLC trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 19.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,785 shares of the information services provider's stock after selling 3,507 shares during the quarter. Alphabet accounts for about 0.6% of RAM Investment Partners LLC's holdings, making the stock its 17th largest position. RAM Investment Partners LLC's holdings in Alphabet were worth $2,310,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Ethos Financial Group LLC grew its position in Alphabet by 0.7% during the fourth quarter. Ethos Financial Group LLC now owns 7,300 shares of the information services provider's stock valued at $1,395,000 after buying an additional 53 shares during the period. Hutchinson Capital Management CA grew its holdings in Alphabet by 1.5% during the fourth quarter. Hutchinson Capital Management CA now owns 3,555 shares of the information services provider's stock valued at $677,000 after purchasing an additional 54 shares during the period. M. Kulyk & Associates LLC increased its position in Alphabet by 0.9% in the fourth quarter. M. Kulyk & Associates LLC now owns 6,445 shares of the information services provider's stock worth $1,227,000 after buying an additional 56 shares during the last quarter. Retirement Planning Co of New England Inc. raised its stake in shares of Alphabet by 0.4% in the fourth quarter. Retirement Planning Co of New England Inc. now owns 15,977 shares of the information services provider's stock valued at $3,043,000 after buying an additional 56 shares during the period. Finally, Concentrum Wealth Management lifted its position in shares of Alphabet by 0.3% during the 4th quarter. Concentrum Wealth Management now owns 17,328 shares of the information services provider's stock valued at $3,300,000 after buying an additional 57 shares during the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.
Alphabet Price Performance
GOOG traded up $2.94 on Thursday, reaching $174.43. The company had a trading volume of 25,831,406 shares, compared to its average volume of 20,718,690. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $208.70. The company has a market cap of $2.12 trillion, a price-to-earnings ratio of 19.45, a P/E/G ratio of 1.18 and a beta of 1.01. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.77 and a current ratio of 1.77. The business has a 50 day simple moving average of $166.90 and a 200 day simple moving average of $176.24.
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. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The firm had revenue of $90.23 billion for the quarter, compared to analysts' expectations of $89.30 billion. During the same quarter last year, the company posted $1.89 EPS. The business's quarterly revenue was up 12.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current year.
Alphabet Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were paid a dividend of $0.21 per share. The ex-dividend date was Monday, June 9th. This represents a $0.84 annualized dividend and a yield of 0.48%. This is a positive change from Alphabet's previous quarterly dividend of $0.20. Alphabet's payout ratio is 9.36%.
Insider Transactions at Alphabet
In other Alphabet news, Director John L. Hennessy sold 200 shares of the company's stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $161.90, for a total value of $32,380.00. Following the completion of the sale, the director now owns 7,613 shares of the company's stock, valued at $1,232,544.70. This represents a 2.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred 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 transaction, the chief executive officer now directly 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 disclosure for this sale can be found here. In the last three months, insiders sold 216,306 shares of company stock worth $35,782,927. 12.99% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
Several equities research analysts recently weighed in on the company. Tigress Financial reissued a "strong-buy" rating on shares of Alphabet in a report on Friday, May 2nd. Citigroup reissued a "sell" rating on shares of Alphabet in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. upped their price target on shares of Alphabet from $180.00 to $195.00 and gave the company an "overweight" rating in a research note on Friday, April 25th. Westpark Capital reiterated a "buy" rating and issued a $210.00 price objective on shares of Alphabet in a research note on Friday, April 25th. Finally, KeyCorp dropped their target price on Alphabet from $202.00 to $185.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 9th. Three 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 given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $204.88.
View Our Latest Report on Alphabet
Alphabet Company Profile
(
Free Report)
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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