Ullmann Wealth Partners Group LLC Sells 109 Shares of Alphabet Inc. (NASDAQ:GOOG)

Ullmann Wealth Partners Group LLC cut its holdings in Alphabet Inc. (NASDAQ:GOOG) by 2.7% during the 1st quarter, Holdings Channel reports. The firm owned 3,996 shares of the information services provider’s stock after selling 109 shares during the period. Ullmann Wealth Partners Group LLC’s holdings in Alphabet were worth $624,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Cassaday & Co Wealth Management LLC lifted its holdings in Alphabet by 9.3% in the fourth quarter. Cassaday & Co Wealth Management LLC now owns 28,044 shares of the information services provider’s stock worth $5,341,000 after buying an additional 2,390 shares during the period. LaFleur & Godfrey LLC lifted its holdings 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 period. Brighton Jones LLC lifted its holdings in Alphabet by 5.6% in the fourth quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider’s stock worth $22,901,000 after buying an additional 6,410 shares during the period. Union Bancaire Privee UBP SA purchased a new position in shares of Alphabet during the fourth quarter valued at approximately $204,262,000. Finally, Ascent Wealth Partners LLC lifted its holdings in shares of Alphabet by 246.2% during the fourth quarter. Ascent Wealth Partners LLC now owns 5,698 shares of the information services provider’s stock valued at $1,085,000 after purchasing an additional 4,052 shares during the last quarter. 27.26% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on GOOG. Cantor Fitzgerald reiterated a “neutral” rating and set a $171.00 target price on shares of Alphabet in a report on Friday, April 25th. Scotiabank lowered their target price on shares of Alphabet from $232.00 to $200.00 and set a “sector outperform” rating for the company in a report on Monday, April 21st. Citigroup reiterated a “sell” rating on shares of Alphabet in a report on Wednesday, April 23rd. KeyCorp lowered their target price on shares of Alphabet from $202.00 to $185.00 and set an “overweight” rating for the company in a report on Wednesday, April 9th. Finally, Needham & Company LLC lowered shares of Alphabet from a “buy” rating to a “cautious” rating in a report on Friday, May 2nd. Three analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have assigned a buy rating and five have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $204.88.

Alphabet Price Performance

Shares of GOOG opened at $169.81 on Friday. The firm has a market cap of $2.06 trillion, a PE ratio of 21.09, a P/E/G ratio of 1.34 and a beta of 1.01. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The firm has a fifty day simple moving average of $161.56 and a two-hundred day simple moving average of $176.09. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $208.70.

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

Alphabet Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be given a dividend of $0.21 per share. This is an increase 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 dividend on an annualized basis and a dividend yield of 0.49%. Alphabet’s payout ratio is presently 9.36%.

Insider Activity

In related news, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $158.56, for a total value of $5,153,200.00. Following the completion of the transaction, the chief executive officer now owns 2,717,696 shares of the company’s stock, valued at approximately $430,917,877.76. This represents a 1.18% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director John L. Hennessy sold 200 shares of the company’s stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $165.53, for a total transaction of $33,106.00. Following the completion of the transaction, the director now directly owns 7,813 shares of the company’s stock, valued at $1,293,285.89. This represents a 2.50% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 195,770 shares of company stock valued at $32,036,638 in the last 90 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.