Schechter Investment Advisors LLC Has $9.07 Million Position in Alphabet Inc. (NASDAQ:GOOG)

Schechter Investment Advisors LLC trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 29.1% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 58,079 shares of the information services provider's stock after selling 23,844 shares during the period. Alphabet makes up about 0.8% of Schechter Investment Advisors LLC's holdings, making the stock its 24th biggest holding. Schechter Investment Advisors LLC's holdings in Alphabet were worth $9,074,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Principia Wealth Advisory LLC increased its holdings 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. MorganRosel Wealth Management LLC acquired a new position in Alphabet in the first quarter worth about $26,000. LSV Asset Management acquired a new position in Alphabet in the fourth quarter worth about $27,000. Goodman Advisory Group LLC acquired a new position in Alphabet in the first quarter worth about $32,000. Finally, WealthTrak Capital Management LLC acquired a new position in Alphabet in the fourth quarter valued at approximately $38,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GOOG has been the subject of a number of research reports. Westpark Capital restated a "buy" rating and issued a $210.00 target price on shares of Alphabet in a research note on Friday, April 25th. Wells Fargo & Company restated an "equal weight" rating on shares of Alphabet in a research note on Wednesday. Susquehanna restated a "positive" rating on shares of Alphabet in a research note on Friday, May 2nd. Barclays reiterated a "buy" rating on shares of Alphabet in a research report on Wednesday. Finally, Roth Capital reiterated a "buy" rating on shares of Alphabet in a research report on Wednesday. Three investment analysts have rated the stock with a sell rating, five have given a hold rating, eighteen have given a buy rating and six have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $207.13.

Insider Buying and Selling at Alphabet

In other Alphabet 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 value of $105,000.00. Following the transaction, the director owned 6,813 shares of the company's stock, valued at approximately $1,192,275. This represents a 8.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $170.87, for a total value of $5,553,275.00. Following the completion of the transaction, the chief executive officer directly owned 2,620,196 shares in the company, valued at $447,712,890.52. This represents a 1.23% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 215,643 shares of company stock valued at $36,330,928. Corporate insiders own 12.99% of the company's stock.

Alphabet Price Performance

GOOG traded up $2.61 during trading on Friday, reaching $181.31. The stock had a trading volume of 23,949,486 shares, compared to its average volume of 21,450,262. The firm has a market capitalization of $2.20 trillion, a price-to-earnings ratio of 20.21, a price-to-earnings-growth ratio of 1.27 and a beta of 1.01. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $208.70. The stock has a 50 day moving average of $171.50 and a two-hundred day moving average of $174.92.

Alphabet (NASDAQ:GOOG - Get Free Report) last released its 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 firm had revenue of $90.23 billion during the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. The firm's revenue for the quarter was up 12.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.89 earnings per share. As a group, equities analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were issued a $0.21 dividend. The ex-dividend date of this dividend was Monday, June 9th. This represents a $0.84 annualized dividend and a dividend yield of 0.46%. This is a boost from Alphabet's previous quarterly dividend of $0.20. Alphabet's dividend payout ratio is currently 9.36%.

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.