Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Worth Financial Advisory Group LLC

Worth Financial Advisory Group LLC cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 3.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,746 shares of the information services provider’s stock after selling 373 shares during the period. Alphabet comprises about 1.1% of Worth Financial Advisory Group LLC’s investment portfolio, making the stock its 22nd biggest holding. Worth Financial Advisory Group LLC’s holdings in Alphabet were worth $1,679,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Principia Wealth Advisory LLC lifted its position in shares of Alphabet by 111.8% during the first quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider’s stock worth $26,000 after purchasing an additional 85 shares during the last quarter. LSV Asset Management bought a new position in Alphabet in the fourth quarter worth about $27,000. WealthTrak Capital Management LLC bought a new position in Alphabet in the fourth quarter worth about $38,000. Mountain Hill Investment Partners Corp. bought a new position in Alphabet in the fourth quarter worth about $39,000. Finally, Noble Wealth Management PBC bought a new position in Alphabet in the fourth quarter worth about $43,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Alphabet

In related news, insider John Kent Walker sold 11,764 shares of Alphabet stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $166.84, for a total transaction of $1,962,705.76. Following the completion of the sale, the insider now owns 49,037 shares of the company’s stock, valued at approximately $8,181,333.08. The trade was a 19.35% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $176.68, for a total transaction of $5,742,100.00. Following the completion of the sale, the chief executive officer now owns 2,555,196 shares of the company’s stock, valued at $451,452,029.28. This trade represents a 1.26% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 228,070 shares of company stock valued at $37,745,632. Corporate insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

Shares of NASDAQ:GOOG opened at $167.73 on Friday. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $208.70. The stock has a market capitalization of $2.04 trillion, a P/E ratio of 18.70, a P/E/G ratio of 1.23 and a beta of 1.01. The business has a 50-day moving average price of $166.31 and a two-hundred day moving average price of $176.39.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.79. The business had revenue of $90.23 billion for the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. Alphabet’s revenue was up 12.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.89 earnings per share. Equities analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 9th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.50%. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date was Monday, June 9th. Alphabet’s dividend payout ratio (DPR) is presently 9.36%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on GOOG shares. Westpark Capital reaffirmed a “buy” rating and set a $210.00 price target on shares of Alphabet in a report on Friday, April 25th. JPMorgan Chase & Co. boosted their target price on Alphabet from $180.00 to $195.00 and gave the stock an “overweight” rating in a report on Friday, April 25th. Oppenheimer upped their target price on Alphabet from $185.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, April 25th. Cantor Fitzgerald restated a “neutral” rating and issued a $171.00 target price on shares of Alphabet in a research report on Friday, April 25th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $220.00 price target on shares of Alphabet in a report on Monday, June 2nd. Three investment analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have assigned a buy rating and five have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $204.88.

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.