SeaBridge Investment Advisors LLC Decreases Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

SeaBridge Investment Advisors LLC lowered its holdings in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 9.1% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 36,720 shares of the information services provider's stock after selling 3,656 shares during the period. Alphabet makes up 1.2% of SeaBridge Investment Advisors LLC's holdings, making the stock its 19th biggest holding. SeaBridge Investment Advisors LLC's holdings in Alphabet were worth $5,737,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. Cable Hill Partners LLC raised its position in Alphabet by 6.8% in the 1st quarter. Cable Hill Partners LLC now owns 9,781 shares of the information services provider's stock valued at $1,574,000 after purchasing an additional 624 shares in the last quarter. Bridgewater Advisors Inc. increased its stake in shares of Alphabet by 3.9% during the first quarter. Bridgewater Advisors Inc. now owns 39,907 shares of the information services provider's stock worth $6,467,000 after buying an additional 1,508 shares during the period. Wealthfront Advisers LLC increased its stake in shares of Alphabet by 6.1% during the first quarter. Wealthfront Advisers LLC now owns 511,515 shares of the information services provider's stock worth $79,914,000 after buying an additional 29,295 shares during the period. GPM Growth Investors Inc. raised its holdings in Alphabet by 5.9% in the first quarter. GPM Growth Investors Inc. now owns 2,486 shares of the information services provider's stock valued at $388,000 after acquiring an additional 139 shares in the last quarter. Finally, Landaas & Co. WI ADV lifted its stake in Alphabet by 15.5% in the first quarter. Landaas & Co. WI ADV now owns 1,975 shares of the information services provider's stock worth $309,000 after acquiring an additional 265 shares during the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Alphabet Trading Up 0.5%

Shares of GOOG traded up $0.94 on Thursday, hitting $184.71. 16,484,262 shares of the stock traded hands, compared to its average volume of 21,515,888. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $208.70. The stock's 50 day moving average is $172.81 and its two-hundred day moving average is $174.80. The firm has a market capitalization of $2.24 trillion, a P/E ratio of 20.63, a P/E/G ratio of 1.29 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 (NASDAQ:GOOG - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, beating analysts' consensus estimates of $2.02 by $0.79. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. The business had revenue of $90.23 billion during the quarter, compared to the consensus estimate of $89.30 billion. During the same quarter in the previous year, the business earned $1.89 earnings per share. The business's revenue for the quarter was up 12.0% on a year-over-year basis. As a group, sell-side analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were issued a dividend of $0.21 per share. This is a positive change from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 0.45%. The ex-dividend date was Monday, June 9th. Alphabet's dividend payout ratio is presently 9.36%.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total value of $5,801,900.00. Following the transaction, the chief executive officer directly owned 2,559,892 shares of the company's stock, valued at approximately $456,991,919.84. This trade represents a 1.25% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Kavitark Ram Shriram sold 9,000 shares of Alphabet stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $1,575,000.00. Following the completion of the transaction, the director owned 255,400 shares in the company, valued at $44,695,000. The trade was a 3.40% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 183,343 shares of company stock valued at $31,296,140. Insiders own 12.99% of the company's stock.

Analyst Ratings Changes

GOOG has been the topic of a number of recent analyst reports. Citigroup reissued a "sell" rating on shares of Alphabet in a research report on Wednesday, April 23rd. Wells Fargo & Company reiterated an "equal weight" rating on shares of Alphabet in a research note on Wednesday, July 9th. UBS Group raised their target price on shares of Alphabet from $186.00 to $192.00 and gave the stock a "neutral" rating in a research note on Wednesday. Needham & Company LLC cut shares of Alphabet from a "buy" rating to a "cautious" rating in a research note on Friday, May 2nd. Finally, Oppenheimer restated an "outperform" rating and set a $220.00 target price (up from $200.00) on shares of Alphabet in a research report on Wednesday, July 9th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have given a buy rating and five have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $208.40.

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.