SeaCrest Wealth Management LLC Sells 3,459 Shares of Alphabet Inc. (NASDAQ:GOOG)

SeaCrest Wealth Management LLC decreased its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 2.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 117,383 shares of the information services provider's stock after selling 3,459 shares during the quarter. Alphabet accounts for approximately 2.1% of SeaCrest Wealth Management LLC's portfolio, making the stock its 6th largest position. SeaCrest Wealth Management LLC's holdings in Alphabet were worth $18,339,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the company. LSV Asset Management purchased a new position in Alphabet in the 4th quarter valued at approximately $27,000. WealthTrak Capital Management LLC acquired a new stake in shares of Alphabet in the fourth quarter valued at $38,000. Mountain Hill Investment Partners Corp. purchased a new position in Alphabet in the fourth quarter valued at $39,000. Noble Wealth Management PBC acquired a new position in Alphabet during the 4th quarter worth $43,000. Finally, Sellwood Investment Partners LLC acquired a new position in Alphabet during the 4th quarter worth $43,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Alphabet

In related news, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $165.53, for a total value of $33,106.00. Following the sale, the director now directly owns 7,813 shares in the company, valued at $1,293,285.89. The trade was a 2.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider John Kent Walker sold 11,764 shares of the business's stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $166.84, for a total transaction of $1,962,705.76. Following the sale, the insider now owns 49,037 shares in the company, valued at $8,181,333.08. The trade was a 19.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 195,770 shares of company stock valued at $32,036,638. 12.99% of the stock is owned by corporate insiders.

Alphabet Stock Performance

Shares of Alphabet stock traded up $5.11 during trading on Friday, reaching $174.92. The company's stock had a trading volume of 22,239,619 shares, compared to its average volume of 20,366,494. The company has a 50-day moving average price of $161.88 and a two-hundred day moving average price of $176.05. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $208.70. The firm has a market cap of $2.12 trillion, a PE ratio of 21.73, a P/E/G ratio of 1.34 and a beta of 1.01. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOG - Get Free Report) last announced its earnings results 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 net margin of 28.60% and a return on equity of 32.49%. The business had revenue of $90.23 billion during the quarter, compared to analysts' expectations of $89.30 billion. During the same period in the prior year, the company earned $1.89 earnings per share. The business's revenue was up 12.0% compared to the same quarter last year. On average, analysts forecast that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.48%. The ex-dividend date is Monday, June 9th. This is a boost from Alphabet's previous quarterly dividend of $0.20. Alphabet's dividend payout ratio (DPR) is 9.36%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on GOOG shares. Scotiabank decreased their price objective on Alphabet from $232.00 to $200.00 and set a "sector outperform" rating for the company in a research note on Monday, April 21st. Needham & Company LLC downgraded shares of Alphabet from a "buy" rating to a "cautious" rating in a research note on Friday, May 2nd. Rosenblatt Securities upgraded shares of Alphabet from a "hold" rating to a "strong-buy" rating in a report on Friday, April 25th. Oppenheimer raised their price objective on shares of Alphabet from $185.00 to $200.00 and gave the company an "outperform" rating in a report on Friday, April 25th. Finally, Susquehanna reaffirmed a "positive" rating on shares of Alphabet in a research report on Friday, May 2nd. Three investment analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have given a buy rating and five have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $204.88.

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.