Quantum Financial Advisors LLC Has $1.71 Million Position in Alphabet Inc. (NASDAQ:GOOG)

Quantum Financial Advisors LLC reduced its stake in Alphabet Inc. (NASDAQ:GOOG) by 4.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,938 shares of the information services provider’s stock after selling 557 shares during the period. Quantum Financial Advisors LLC’s holdings in Alphabet were worth $1,709,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank bought a new stake in shares of Alphabet in the fourth quarter valued at about $5,166,070,000. GAMMA Investing LLC boosted its position in shares of Alphabet by 18,562.3% in the first quarter. GAMMA Investing LLC now owns 14,323,323 shares of the information services provider’s stock valued at $2,237,733,000 after acquiring an additional 14,246,573 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Alphabet in the fourth quarter valued at about $1,551,533,000. Northern Trust Corp boosted its position in shares of Alphabet by 16.1% in the fourth quarter. Northern Trust Corp now owns 57,098,042 shares of the information services provider’s stock valued at $10,873,751,000 after acquiring an additional 7,917,625 shares during the period. Finally, GQG Partners LLC boosted its position in shares of Alphabet by 181,679.1% in the fourth quarter. GQG Partners LLC now owns 7,225,721 shares of the information services provider’s stock valued at $1,376,066,000 after acquiring an additional 7,221,746 shares during the period. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Citigroup reissued a “sell” rating on shares of Alphabet in a research report on Wednesday, April 23rd. Morgan Stanley reaffirmed an “overweight” rating on shares of Alphabet in a research report on Wednesday, February 5th. Benchmark reaffirmed a “negative” rating on shares of Alphabet in a research report on Wednesday, February 5th. JPMorgan Chase & Co. upped their price objective on shares of Alphabet from $180.00 to $195.00 and gave the stock an “overweight” rating in a research report on Friday, April 25th. Finally, KeyCorp cut their price objective on shares of Alphabet from $202.00 to $185.00 and set an “overweight” rating for the company in a research report on Wednesday, April 9th. Three analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have issued a buy rating and five have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and a consensus price target of $203.94.

Insiders Place Their Bets

In other news, Director Kavitark Ram Shriram sold 10,500 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 $1,837,500.00. Following the completion of the sale, the director now owns 261,966 shares of the company’s stock, valued at $45,844,050. This trade represents a 3.85% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Amie Thuener O’toole sold 1,374 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $173.47, for a total transaction of $238,347.78. Following the sale, the chief accounting officer now directly owns 15,024 shares of the company’s stock, valued at approximately $2,606,213.28. This trade represents a 8.38% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 164,533 shares of company stock worth $26,772,774. 12.99% of the stock is currently owned by insiders.

Alphabet Stock Performance

Alphabet stock opened at $170.87 on Friday. The business has a 50 day moving average of $160.88 and a 200-day moving average of $176.27. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $208.70. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The company has a market capitalization of $2.07 trillion, a P/E ratio of 21.23, a P/E/G ratio of 1.34 and a beta of 1.01.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.79. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The company had revenue of $90.23 billion during the quarter, compared to the consensus estimate of $89.30 billion. During the same quarter in the prior year, the firm posted $1.89 earnings per share. The firm’s revenue was up 12.0% compared to the same quarter last year. On average, equities research analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be issued a dividend of $0.21 per share. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Monday, June 9th. This represents a $0.84 annualized dividend and a yield of 0.49%. Alphabet’s dividend payout ratio (DPR) is presently 9.36%.

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.