Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Private Ocean LLC

Private Ocean LLC reduced its position in Alphabet Inc. (NASDAQ:GOOG) by 12.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,212 shares of the information services provider’s stock after selling 608 shares during the period. Private Ocean LLC’s holdings in Alphabet were worth $641,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Partnership Wealth Management LLC acquired a new position in shares of Alphabet in the 4th quarter valued at about $26,000. Bruce G. Allen Investments LLC acquired a new position in shares of Alphabet in the 4th quarter valued at about $26,000. Equitec Proprietary Markets LLC acquired a new position in shares of Alphabet in the 4th quarter valued at about $28,000. DiNuzzo Private Wealth Inc. acquired a new position in shares of Alphabet in the 4th quarter valued at about $32,000. Finally, Richardson Financial Services Inc. acquired a new position in shares of Alphabet in the 4th quarter valued at about $34,000. 27.26% of the stock is owned by institutional investors and hedge funds.

Alphabet Price Performance

GOOG stock opened at $183.42 on Friday. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 52-week low of $115.83 and a 52-week high of $187.50. The stock’s 50 day moving average is $174.40 and its two-hundred day moving average is $155.68. The company has a market capitalization of $2.27 trillion, a PE ratio of 28.13, a P/E/G ratio of 1.38 and a beta of 1.01.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, topping the consensus estimate of $1.51 by $0.38. The company had revenue of $80.54 billion during the quarter, compared to analyst estimates of $78.75 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The business’s revenue was up 15.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.17 EPS. Analysts predict that Alphabet Inc. will post 7.6 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently announced a — dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 10th were given a $0.20 dividend. The ex-dividend date of this dividend was Monday, June 10th. Alphabet’s payout ratio is 12.27%.

Insider Activity at Alphabet

In related news, SVP Prabhakar Raghavan sold 3,258 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $155.97, for a total transaction of $508,150.26. Following the completion of the transaction, the senior vice president now owns 144,685 shares in the company, valued at approximately $22,566,519.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Prabhakar Raghavan sold 3,258 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $155.97, for a total transaction of $508,150.26. Following the completion of the transaction, the senior vice president now owns 144,685 shares in the company, valued at approximately $22,566,519.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $177.40, for a total value of $3,991,500.00. Following the transaction, the chief executive officer now owns 2,213,011 shares of the company’s stock, valued at approximately $392,588,151.40. The disclosure for this sale can be found here. Insiders sold 146,284 shares of company stock worth $24,534,393 in the last 90 days. 12.99% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Stifel Nicolaus raised their target price on Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Oppenheimer raised their target price on Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a report on Monday, April 8th. Morgan Stanley reiterated an “overweight” rating and set a $165.00 target price on shares of Alphabet in a report on Thursday, April 11th. Finally, Rosenblatt Securities downgraded Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price on the stock. in a report on Friday. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $167.86.

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.