Tanager Wealth Management LLP Cuts Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Tanager Wealth Management LLP lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 6.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 119,291 shares of the information services provider's stock after selling 8,456 shares during the period. Alphabet makes up approximately 2.4% of Tanager Wealth Management LLP's portfolio, making the stock its 13th biggest holding. Tanager Wealth Management LLP's holdings in Alphabet were worth $18,637,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Norges Bank acquired a new stake in shares of Alphabet in the fourth quarter worth $5,166,070,000. GAMMA Investing LLC increased its position in shares of Alphabet by 18,562.3% in the first quarter. GAMMA Investing LLC now owns 14,323,323 shares of the information services provider's stock worth $2,237,733,000 after acquiring an additional 14,246,573 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Alphabet in the fourth quarter worth $1,551,533,000. Northern Trust Corp increased its position in shares of Alphabet by 16.1% in the fourth quarter. Northern Trust Corp now owns 57,098,042 shares of the information services provider's stock worth $10,873,751,000 after acquiring an additional 7,917,625 shares in the last quarter. Finally, GQG Partners LLC increased its position in shares of Alphabet by 181,679.1% in the fourth quarter. GQG Partners LLC now owns 7,225,721 shares of the information services provider's stock worth $1,376,066,000 after acquiring an additional 7,221,746 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company's stock.

Alphabet Price Performance

Shares of GOOG stock opened at $178.27 on Friday. The firm has a market cap of $2.16 trillion, a P/E ratio of 19.87, a P/E/G ratio of 1.23 and a beta of 1.01. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.77 and a quick ratio of 1.77. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $208.70. The firm has a fifty day moving average of $167.82 and a two-hundred day moving average of $176.17.

Alphabet (NASDAQ:GOOG - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.79. The company had revenue of $90.23 billion during the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The firm's revenue for the quarter was up 12.0% compared to the same quarter last year. During the same period last year, the business earned $1.89 EPS. As a group, research analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were given a $0.21 dividend. This is an increase from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date of this dividend was Monday, June 9th. Alphabet's dividend payout ratio (DPR) is presently 9.36%.

Insider Transactions at Alphabet

In other news, Director Kavitark Ram Shriram sold 10,500 shares of the firm's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $1,837,500.00. Following the transaction, the director now directly owns 261,966 shares in the company, valued at approximately $45,844,050. This trade represents a 3.85% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $176.68, for a total transaction of $5,742,100.00. Following the completion of the transaction, the chief executive officer now owns 2,555,196 shares in the company, valued at approximately $451,452,029.28. The trade was a 1.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 216,195 shares of company stock worth $35,764,898. 12.99% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Cantor Fitzgerald reissued a "neutral" rating and issued a $171.00 price objective on shares of Alphabet in a research report on Friday, April 25th. KeyCorp lowered their price target on shares of Alphabet from $202.00 to $185.00 and set an "overweight" rating for the company in a report on Wednesday, April 9th. Tigress Financial reaffirmed a "strong-buy" rating on shares of Alphabet in a report on Friday, May 2nd. UBS Group lowered their price target on shares of Alphabet from $209.00 to $173.00 and set a "neutral" rating for the company in a report on Friday, April 11th. Finally, Rosenblatt Securities raised shares of Alphabet from a "hold" rating to a "strong-buy" rating in a report on Friday, April 25th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have issued a buy rating and five have assigned a strong buy rating to the stock. According to MarketBeat.com, Alphabet presently has an average rating of "Moderate Buy" and a consensus price target of $204.88.

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.

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