Alphabet Inc. (NASDAQ:GOOG) Shares Sold by MTM Investment Management LLC

MTM Investment Management LLC reduced its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 5.2% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 6,278 shares of the information services provider’s stock after selling 343 shares during the period. MTM Investment Management LLC’s holdings in Alphabet were worth $998,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. Brighton Jones LLC lifted its holdings in shares of Alphabet by 5.6% during the fourth quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider’s stock worth $22,901,000 after purchasing an additional 6,410 shares during the period. Bank Pictet & Cie Europe AG lifted its stake 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 period. Raymond James Financial Inc. acquired a new stake in shares of Alphabet in the 4th quarter worth $1,551,533,000. one8zero8 LLC purchased a new stake in shares of Alphabet in the fourth quarter valued at about $5,744,000. Finally, Tidemark LLC increased its stake in shares of Alphabet by 13.3% during the fourth quarter. Tidemark LLC now owns 2,293 shares of the information services provider’s stock worth $437,000 after acquiring an additional 270 shares during the period. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Stock Performance

NASDAQ GOOG opened at $181.31 on Monday. 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 fifty-two week low of $142.66 and a fifty-two week high of $208.70. The business has a fifty day moving average of $171.50 and a 200-day moving average of $174.76. The stock has a market cap of $2.20 trillion, a price-to-earnings ratio of 20.21, a price-to-earnings-growth ratio of 1.27 and a beta of 1.01.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 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 firm had revenue of $90.23 billion during the quarter, compared to analysts’ expectations of $89.30 billion. During the same quarter last year, the business posted $1.89 EPS. The firm’s quarterly revenue was up 12.0% compared to the same quarter last year. As a group, analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The company also recently declared 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 is an increase from Alphabet’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.46%. Alphabet’s payout ratio is 9.36%.

Wall Street Analyst Weigh In

GOOG has been the subject of a number of recent analyst reports. Rosenblatt Securities upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 25th. Tigress Financial reissued a “strong-buy” rating on shares of Alphabet in a research note on Friday, May 2nd. Oppenheimer restated an “outperform” rating and issued a $220.00 price target (up from $200.00) on shares of Alphabet in a research note on Wednesday, July 9th. Citigroup reaffirmed a “sell” rating on shares of Alphabet in a report on Wednesday, April 23rd. Finally, BNP Paribas downgraded Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, June 26th. Three research analysts have rated the stock with a sell rating, five have given a hold rating, eighteen have given a buy rating and six have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $207.13.

Insider Activity

In related news, Director John L. Hennessy sold 600 shares of the firm’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 transaction of $105,000.00. Following the sale, the director owned 6,813 shares in the company, valued at approximately $1,192,275. This trade represents a 8.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kavitark Ram Shriram sold 10,500 shares of the stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $1,837,500.00. Following the transaction, the director directly owned 261,966 shares in the company, valued at approximately $45,844,050. This represents a 3.85% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 215,443 shares of company stock valued at $36,298,548 over the last 90 days. 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.