Alpha Financial Partners LLC Sells 88 Shares of Alphabet Inc. (NASDAQ:GOOG)

Alpha Financial Partners LLC lowered its position in Alphabet Inc. (NASDAQ:GOOG) by 2.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,427 shares of the information services provider’s stock after selling 88 shares during the period. Alpha Financial Partners LLC’s holdings in Alphabet were worth $535,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in GOOG. Hutchinson Capital Management CA lifted its stake in shares of Alphabet by 1.5% in the 4th quarter. Hutchinson Capital Management CA now owns 3,555 shares of the information services provider’s stock valued at $677,000 after purchasing an additional 54 shares during the period. Retirement Planning Co of New England Inc. grew its holdings in shares of Alphabet by 0.4% during the fourth quarter. Retirement Planning Co of New England Inc. now owns 15,977 shares of the information services provider’s stock worth $3,043,000 after buying an additional 56 shares in the last quarter. Concentrum Wealth Management grew its holdings in shares of Alphabet by 0.3% in the fourth quarter. Concentrum Wealth Management now owns 17,328 shares of the information services provider’s stock valued at $3,300,000 after purchasing an additional 57 shares during the period. JDM Financial Group LLC grew its holdings in shares of Alphabet by 10.6% in the fourth quarter. JDM Financial Group LLC now owns 593 shares of the information services provider’s stock valued at $113,000 after purchasing an additional 57 shares during the period. Finally, Kidder Stephen W grew its holdings in shares of Alphabet by 1.6% in the fourth quarter. Kidder Stephen W now owns 3,608 shares of the information services provider’s stock valued at $687,000 after purchasing an additional 58 shares during the period. Institutional investors own 27.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Westpark Capital reissued a “buy” rating and set a $210.00 price target on shares of Alphabet in a research report on Friday, April 25th. UBS Group dropped their price target on shares of Alphabet from $209.00 to $173.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. BNP Paribas lowered shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, June 26th. Scotiabank lowered their target price on shares of Alphabet from $232.00 to $200.00 and set a “sector outperform” rating on the stock in a research report on Monday, April 21st. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Alphabet from $180.00 to $195.00 and gave the company an “overweight” rating in a research report on Friday, April 25th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating, fourteen have assigned a buy rating and six have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $207.63.

Insider Transactions at Alphabet

In other Alphabet news, Director John L. Hennessy sold 600 shares of the company’s stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $105,000.00. Following the completion of the transaction, the director owned 6,813 shares in the company, valued at $1,192,275. This represents a 8.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total value of $5,801,900.00. Following the completion of the transaction, the chief executive officer owned 2,559,892 shares of the company’s stock, valued at approximately $456,991,919.84. This represents a 1.25% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 215,643 shares of company stock worth $36,330,928. 12.99% of the stock is currently owned by company insiders.

Alphabet Stock Up 1.5%

Shares of NASDAQ:GOOG opened at $177.75 on Wednesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.77 and a current ratio of 1.77. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $208.70. The stock has a market capitalization of $2.16 trillion, a P/E ratio of 19.84, a PEG ratio of 1.25 and a beta of 1.01. The stock has a 50-day simple moving average of $170.54 and a 200-day simple moving average of $175.29.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.02 by $0.79. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. 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 previous year, the business earned $1.89 EPS. The company’s revenue for the quarter was up 12.0% on a year-over-year basis. Equities analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.47%. This is a boost from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s payout ratio is presently 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.