Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Bellevue Asset Management LLC

Bellevue Asset Management LLC lowered its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.9% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,344 shares of the information services provider’s stock after selling 69 shares during the quarter. Alphabet accounts for approximately 0.6% of Bellevue Asset Management LLC’s investment portfolio, making the stock its 23rd largest position. Bellevue Asset Management LLC’s holdings in Alphabet were worth $1,147,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. LaFleur & Godfrey LLC grew its position in Alphabet by 1.2% in the fourth quarter. LaFleur & Godfrey LLC now owns 31,967 shares of the information services provider’s stock worth $6,088,000 after buying an additional 380 shares during the last quarter. Brighton Jones LLC boosted its stake in shares of Alphabet by 5.6% during the 4th quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider’s stock worth $22,901,000 after acquiring an additional 6,410 shares in the last quarter. Bank Pictet & Cie Europe AG grew its holdings in shares of Alphabet by 4.3% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 506,535 shares of the information services provider’s stock worth $96,465,000 after acquiring an additional 20,855 shares during the last quarter. Keystone Wealth Services LLC raised its position in shares of Alphabet by 6.1% during the fourth quarter. Keystone Wealth Services LLC now owns 2,787 shares of the information services provider’s stock worth $531,000 after purchasing an additional 159 shares during the period. Finally, Auxano Advisors LLC lifted its holdings in shares of Alphabet by 0.7% during the fourth quarter. Auxano Advisors LLC now owns 8,823 shares of the information services provider’s stock valued at $1,680,000 after purchasing an additional 64 shares during the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently weighed in on GOOG. BNP Paribas downgraded shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, June 26th. Rosenblatt Securities raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 25th. Scotiabank lowered their price objective 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. Citizens Jmp upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a report on Thursday, June 26th. Finally, JPMorgan Chase & Co. raised their target price on Alphabet from $180.00 to $195.00 and gave the stock an “overweight” rating in a research report on Friday, April 25th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, fourteen have issued a buy rating and six have assigned a strong buy rating to the company’s stock. According to MarketBeat, Alphabet has an average rating of “Moderate Buy” and an average price target of $206.38.

Alphabet Price Performance

Shares of NASDAQ:GOOG opened at $180.22 on Friday. The company has a market cap of $2.19 trillion, a price-to-earnings ratio of 20.09, a PEG ratio of 1.27 and a beta of 1.01. The business has a 50 day moving average price of $169.65 and a 200 day moving average price of $175.71. 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 twelve month low of $142.66 and a twelve month high of $208.70.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data 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. The company had revenue of $90.23 billion during the quarter, compared to analysts’ expectations of $89.30 billion. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. Alphabet’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same period in the prior year, the business earned $1.89 earnings per share. Research analysts predict 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 issued a $0.21 dividend. The ex-dividend date was Monday, June 9th. 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 yield of 0.47%. Alphabet’s dividend payout ratio is 9.36%.

Insider Buying and Selling at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total transaction of $5,801,900.00. Following the sale, the chief executive officer directly owned 2,559,892 shares of the company’s stock, valued at $456,991,919.84. This trade represents a 1.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John L. Hennessy sold 600 shares of the company’s stock in a transaction that occurred 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 transaction, the director directly owned 6,813 shares of the company’s stock, valued at approximately $1,192,275. This trade represents a 8.09% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 215,643 shares of company stock valued at $36,330,928 in the last ninety days. Company insiders own 12.99% of the company’s stock.

Alphabet 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.