InTrack Investment Management Inc Sells 229 Shares of Alphabet Inc. (NASDAQ:GOOG)

InTrack Investment Management Inc lessened its holdings in Alphabet Inc. (NASDAQ:GOOG) by 2.5% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,047 shares of the information services provider’s stock after selling 229 shares during the period. Alphabet makes up approximately 1.3% of InTrack Investment Management Inc’s portfolio, making the stock its 27th biggest holding. InTrack Investment Management Inc’s holdings in Alphabet were worth $1,413,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GOOG. Principia Wealth Advisory LLC boosted its stake in shares of Alphabet by 111.8% in the 1st quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider’s stock worth $26,000 after buying an additional 85 shares during the last quarter. LSV Asset Management purchased a new position in shares of Alphabet in the 4th quarter worth approximately $27,000. WealthTrak Capital Management LLC purchased a new position in shares of Alphabet in the 4th quarter worth approximately $38,000. Mountain Hill Investment Partners Corp. purchased a new position in shares of Alphabet in the 4th quarter worth approximately $39,000. Finally, Noble Wealth Management PBC purchased a new position in Alphabet in the fourth quarter valued at approximately $43,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Analyst Upgrades and Downgrades

GOOG has been the topic of several research analyst reports. Tigress Financial reiterated a “strong-buy” rating on shares of Alphabet in a research note on Friday, May 2nd. JPMorgan Chase & Co. upped their price objective on Alphabet from $180.00 to $195.00 and gave the company an “overweight” rating in a research note on Friday, April 25th. UBS Group dropped their price objective on Alphabet from $209.00 to $173.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. Westpark Capital reiterated a “buy” rating and issued a $210.00 price objective on shares of Alphabet in a research note on Friday, April 25th. Finally, KeyCorp dropped their price objective on Alphabet from $202.00 to $185.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 9th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have assigned a buy rating and five have issued a strong buy rating to the stock. According to data from MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and a consensus price target of $204.88.

Alphabet Trading Up 1.3%

Alphabet stock opened at $180.01 on Wednesday. The stock has a market cap of $2.18 trillion, a P/E ratio of 22.36, a PEG ratio of 1.34 and a beta of 1.01. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $208.70. The firm’s fifty day moving average price is $162.80 and its 200-day moving average price is $176.20. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.79. The firm had revenue of $90.23 billion for the quarter, compared to analysts’ expectations of $89.30 billion. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. The business’s quarterly revenue was up 12.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.89 earnings per share. Equities research analysts forecast 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 will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Monday, June 9th. This represents a $0.84 annualized dividend and a dividend yield of 0.47%. This is a boost from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s dividend payout ratio is presently 9.36%.

Insider Transactions at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $168.71, for a total value of $5,483,075.00. Following the transaction, the chief executive officer now owns 2,587,696 shares of the company’s stock, valued at $436,570,192.16. This represents a 1.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John L. Hennessy sold 200 shares of the stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $165.53, for a total value of $33,106.00. Following the completion of the transaction, the director now directly owns 7,813 shares in the company, valued at approximately $1,293,285.89. This represents a 2.50% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 195,770 shares of company stock valued at $32,036,638. 12.99% of the stock is currently owned by company insiders.

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.