Winthrop Advisory Group LLC Decreases Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Winthrop Advisory Group LLC lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 11.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,568 shares of the information services provider's stock after selling 1,812 shares during the period. Winthrop Advisory Group LLC's holdings in Alphabet were worth $2,276,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the business. Legacy Financial Strategies LLC increased its holdings in Alphabet by 14.7% in the first quarter. Legacy Financial Strategies LLC now owns 2,615 shares of the information services provider's stock valued at $409,000 after buying an additional 336 shares in the last quarter. Global Financial Private Client LLC increased its stake in shares of Alphabet by 3.1% in the 1st quarter. Global Financial Private Client LLC now owns 5,909 shares of the information services provider's stock valued at $923,000 after purchasing an additional 180 shares in the last quarter. Parallel Advisors LLC increased its position in shares of Alphabet by 5.3% in the first quarter. Parallel Advisors LLC now owns 339,085 shares of the information services provider's stock valued at $52,975,000 after buying an additional 17,070 shares in the last quarter. GoalVest Advisory LLC increased its position in shares of Alphabet by 65.8% in the first quarter. GoalVest Advisory LLC now owns 1,401 shares of the information services provider's stock valued at $219,000 after buying an additional 556 shares in the last quarter. Finally, 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 valued at $2,237,733,000 after buying an additional 14,246,573 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company's stock.

Alphabet Trading Down 1.2%

Shares of GOOG traded down $2.09 during mid-day trading on Friday, reaching $170.87. The stock had a trading volume of 36,230,934 shares, compared to its average volume of 20,239,371. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $208.70. The business's fifty day moving average is $160.88 and its 200 day moving average is $176.30. The firm has a market cap of $2.07 trillion, a price-to-earnings ratio of 21.23, a P/E/G ratio of 1.34 and a beta of 1.01.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating the consensus estimate 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 quarter in the prior year, the company posted $1.89 EPS. The business's revenue for the quarter was up 12.0% on a year-over-year basis. On average, sell-side analysts predict that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.49%. This is a positive change from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Monday, June 9th. Alphabet's dividend payout ratio 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 on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $1,837,500.00. Following the completion of the transaction, the director now directly owns 261,966 shares in the company, valued at $45,844,050. This trade represents a 3.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total value of $5,153,200.00. Following the transaction, the chief executive officer now owns 2,717,696 shares of the company's stock, valued at approximately $430,917,877.76. This represents a 1.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 164,533 shares of company stock worth $26,772,774. 12.99% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Scotiabank cut 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. Cantor Fitzgerald reissued a "neutral" rating and issued a $171.00 price target on shares of Alphabet in a report on Friday, April 25th. Westpark Capital reissued a "buy" rating and set a $210.00 target price on shares of Alphabet in a research note on Friday, April 25th. Needham & Company LLC cut shares of Alphabet from a "buy" rating to a "cautious" rating in a research note on Friday, May 2nd. Finally, Morgan Stanley reissued an "overweight" rating on shares of Alphabet in a research note on Wednesday, February 5th. Three research analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have assigned a buy rating and five have given a strong buy rating to the stock. Based on data from MarketBeat, Alphabet presently has an average rating of "Moderate Buy" and a consensus target price of $203.94.

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.