Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Warren Street Wealth Advisors LLC

Warren Street Wealth Advisors LLC lessened its stake in Alphabet Inc. (NASDAQ:GOOG) by 3.1% in the 1st quarter, Holdings Channel reports. The firm owned 15,923 shares of the information services provider’s stock after selling 502 shares during the period. Alphabet comprises about 1.0% of Warren Street Wealth Advisors LLC’s portfolio, making the stock its 21st largest holding. Warren Street Wealth Advisors LLC’s holdings in Alphabet were worth $2,488,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Park Edge Advisors LLC grew its stake in shares of Alphabet by 2.4% in the first quarter. Park Edge Advisors LLC now owns 7,142 shares of the information services provider’s stock worth $1,116,000 after acquiring an additional 169 shares in the last quarter. Long Run Wealth Advisors LLC grew its stake in shares of Alphabet by 19.3% during the first quarter. Long Run Wealth Advisors LLC now owns 23,807 shares of the information services provider’s stock worth $3,719,000 after purchasing an additional 3,847 shares in the last quarter. TruWealth Advisors LLC grew its stake in shares of Alphabet by 2.4% during the first quarter. TruWealth Advisors LLC now owns 205,357 shares of the information services provider’s stock worth $32,083,000 after purchasing an additional 4,728 shares in the last quarter. Wealth Alliance Advisory Group LLC grew its stake in shares of Alphabet by 6.1% during the first quarter. Wealth Alliance Advisory Group LLC now owns 23,309 shares of the information services provider’s stock worth $3,642,000 after purchasing an additional 1,350 shares in the last quarter. Finally, Granite Bay Wealth Management LLC grew its stake in shares of Alphabet by 1.2% during the first quarter. Granite Bay Wealth Management LLC now owns 35,324 shares of the information services provider’s stock worth $5,519,000 after purchasing an additional 432 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insider Buying and Selling at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $168.71, for a total transaction of $5,483,075.00. Following the sale, the chief executive officer now owns 2,587,696 shares in the company, valued at approximately $436,570,192.16. This trade represents a 1.24% 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, CAO Amie Thuener O’toole sold 673 shares of the firm’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total transaction of $104,537.09. Following the sale, the chief accounting officer now owns 15,303 shares in the company, valued at approximately $2,377,014.99. This trade represents a 4.21% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 195,770 shares of company stock valued at $32,036,638. Corporate insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Needham & Company LLC cut shares of Alphabet from a “buy” rating to a “cautious” rating in a research report on Friday, May 2nd. Benchmark reissued a “negative” rating on shares of Alphabet in a research report on Wednesday, February 5th. Citigroup reissued a “sell” rating on shares of Alphabet in a research report on Wednesday, April 23rd. UBS Group reduced their target price on shares of Alphabet from $209.00 to $173.00 and set a “neutral” rating for the company in a report on Friday, April 11th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $220.00 target price on shares of Alphabet in a report on Monday. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have given a buy rating and five have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $204.88.

Alphabet Trading Up 1.0%

NASDAQ GOOG opened at $169.39 on Thursday. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $208.70. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $2.06 trillion, a P/E ratio of 21.04, a P/E/G ratio of 1.34 and a beta of 1.01. The firm has a 50-day moving average price of $161.29 and a 200 day moving average price of $176.14.

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

Alphabet Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be issued a $0.21 dividend. The ex-dividend date is Monday, June 9th. This is a boost from Alphabet’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a yield of 0.50%. Alphabet’s dividend payout ratio (DPR) is 9.36%.

Alphabet Company 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.