Trek Financial LLC Sells 26,704 Shares of Alphabet Inc. (NASDAQ:GOOG)

Trek Financial LLC reduced its stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 26.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 74,835 shares of the information services provider's stock after selling 26,704 shares during the quarter. Alphabet comprises 0.8% of Trek Financial LLC's holdings, making the stock its 29th largest position. Trek Financial LLC's holdings in Alphabet were worth $11,691,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. DekaBank Deutsche Girozentrale grew its position in shares of Alphabet by 10.4% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 1,917,077 shares of the information services provider's stock worth $294,817,000 after purchasing an additional 181,314 shares in the last quarter. Opus Capital Group LLC acquired a new position in shares of Alphabet during the 1st quarter worth approximately $269,000. AlphaStar Capital Management LLC grew its position in shares of Alphabet by 5.6% during the 1st quarter. AlphaStar Capital Management LLC now owns 8,815 shares of the information services provider's stock worth $1,377,000 after purchasing an additional 464 shares in the last quarter. Stratos Investment Management LLC grew its position in shares of Alphabet by 6.2% during the 1st quarter. Stratos Investment Management LLC now owns 25,412 shares of the information services provider's stock worth $3,970,000 after purchasing an additional 1,476 shares in the last quarter. Finally, May Hill Capital LLC boosted its position in shares of Alphabet by 82.2% during the 1st quarter. May Hill Capital LLC now owns 5,614 shares of the information services provider's stock worth $877,000 after acquiring an additional 2,533 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company's stock.

Alphabet Price Performance

GOOG stock opened at $175.16 on Wednesday. The firm has a market cap of $2.13 trillion, a price-to-earnings ratio of 19.53, a PEG ratio of 1.25 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 12-month low of $142.66 and a 12-month high of $208.70. The company's fifty day simple moving average is $170.54 and its 200 day simple moving average is $175.29.

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 (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.79. The business had revenue of $90.23 billion for 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%. Alphabet's revenue for the quarter was up 12.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.89 earnings per share. On average, analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current 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 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 0.48%. The ex-dividend date of this dividend was Monday, June 9th. Alphabet's payout ratio is 9.36%.

Analysts Set New Price Targets

Several research firms recently issued reports on GOOG. Westpark Capital reiterated a "buy" rating and set a $210.00 price target on shares of Alphabet in a research report on Friday, April 25th. JPMorgan Chase & Co. increased their price target on shares of Alphabet from $180.00 to $195.00 and gave the stock an "overweight" rating in a research report on Friday, April 25th. KeyCorp reduced their price target on shares of Alphabet from $202.00 to $185.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 9th. Cantor Fitzgerald reiterated a "neutral" rating and set a $171.00 price target on shares of Alphabet in a research report on Friday, April 25th. Finally, Rosenblatt Securities upgraded shares of Alphabet from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 25th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have given a buy rating and six have given a strong buy rating to the stock. According to MarketBeat, Alphabet currently has a consensus rating of "Moderate Buy" and a consensus price target of $206.38.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director John L. Hennessy sold 600 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 $105,000.00. Following the completion of the sale, the director directly owned 6,813 shares of the company's stock, valued at approximately $1,192,275. The trade was a 8.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $178.52, for a total transaction of $5,801,900.00. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 215,643 shares of company stock valued at $36,330,928. Corporate insiders own 12.99% of the company's stock.

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.

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