Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Sendero Wealth Management LLC

Sendero Wealth Management LLC cut its stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 21.5% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 20,784 shares of the information services provider's stock after selling 5,687 shares during the quarter. Sendero Wealth Management LLC's holdings in Alphabet were worth $3,247,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of GOOG. Cassaday & Co Wealth Management LLC boosted its stake in shares of Alphabet by 9.3% during the fourth quarter. Cassaday & Co Wealth Management LLC now owns 28,044 shares of the information services provider's stock worth $5,341,000 after buying an additional 2,390 shares during the period. LaFleur & Godfrey LLC increased its stake in Alphabet by 1.2% in the 4th quarter. LaFleur & Godfrey LLC now owns 31,967 shares of the information services provider's stock valued at $6,088,000 after purchasing an additional 380 shares in the last quarter. Brighton Jones LLC increased its position in Alphabet by 5.6% during the fourth quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider's stock worth $22,901,000 after buying an additional 6,410 shares in the last quarter. Union Bancaire Privee UBP SA purchased a new position in shares of Alphabet during the fourth quarter valued at approximately $204,262,000. Finally, Ascent Wealth Partners LLC boosted its stake in Alphabet by 246.2% in the 4th quarter. Ascent Wealth Partners LLC now owns 5,698 shares of the information services provider's stock worth $1,085,000 after buying an additional 4,052 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company's stock.

Insiders Place Their Bets

In related news, 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 completion of the transaction, the insider now directly owns 49,037 shares of the company's stock, valued at $8,181,333.08. The trade was a 19.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John L. Hennessy sold 200 shares of the firm's stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $165.53, for a total transaction of $33,106.00. Following the sale, the director now directly owns 7,813 shares in the company, valued at approximately $1,293,285.89. The trade was a 2.50% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 195,770 shares of company stock valued at $32,036,638. Insiders own 12.99% of the company's stock.

Analyst Ratings Changes

GOOG has been the subject of a number of research analyst reports. Rosenblatt Securities upgraded Alphabet from a "hold" rating to a "strong-buy" rating in a report on Friday, April 25th. Oppenheimer boosted their target price on shares of Alphabet from $185.00 to $200.00 and gave the stock an "outperform" rating in a research report on Friday, April 25th. Morgan Stanley restated an "overweight" rating on shares of Alphabet in a research report on Wednesday, February 5th. UBS Group cut their price target on Alphabet from $209.00 to $173.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. Finally, Scotiabank reduced their price objective on Alphabet from $232.00 to $200.00 and set a "sector outperform" rating for the company in a research report on Monday, April 21st. Three 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. According to data from MarketBeat.com, Alphabet currently has an average rating of "Moderate Buy" and an average target price of $204.88.

Alphabet Stock Up 0.2%

GOOG traded up $0.42 during midday trading on Thursday, reaching $169.81. The company's stock had a trading volume of 24,841,790 shares, compared to its average volume of 20,314,125. 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 Inc. has a 1 year low of $142.66 and a 1 year high of $208.70. The firm has a market capitalization of $2.06 trillion, a price-to-earnings ratio of 21.09, a PEG ratio of 1.34 and a beta of 1.01. The stock's 50-day moving average is $161.29 and its 200-day moving average is $176.14.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping the consensus estimate of $2.02 by $0.79. The company had revenue of $90.23 billion for the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. The firm's revenue was up 12.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.89 EPS. As a group, research analysts expect that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be paid a $0.21 dividend. This is an increase from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 0.49%. The ex-dividend date of this dividend is Monday, June 9th. Alphabet's dividend payout ratio is currently 9.36%.

Alphabet Company 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.