Alphabet Inc. $GOOG Shares Sold by Ramsay Stattman Vela & Price Inc.

Ramsay Stattman Vela & Price Inc. lowered its position in shares of Alphabet Inc. (NASDAQ:GOOGFree Report) by 10.6% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 86,756 shares of the information services provider’s stock after selling 10,337 shares during the quarter. Alphabet comprises 4.9% of Ramsay Stattman Vela & Price Inc.’s portfolio, making the stock its 4th largest position. Ramsay Stattman Vela & Price Inc.’s holdings in Alphabet were worth $24,887,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the company. Imprint Wealth LLC acquired a new stake in shares of Alphabet during the 3rd quarter valued at approximately $31,000. Nvest Wealth Strategies Inc. acquired a new stake in shares of Alphabet during the fourth quarter worth $38,000. Lifetime Wealth Management P.C. acquired a new stake in shares of Alphabet during the fourth quarter worth $38,000. Bard Associates Inc. bought a new position in shares of Alphabet in the 4th quarter worth about $41,000. Finally, Towne Trust Company N.A boosted its holdings in shares of Alphabet by 34.0% in the 4th quarter. Towne Trust Company N.A now owns 134 shares of the information services provider’s stock valued at $42,000 after buying an additional 34 shares during the period. Institutional investors own 27.26% of the company’s stock.

Insider Transactions at Alphabet

In related news, insider John Kent Walker sold 8,998 shares of the firm’s stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $349.29, for a total transaction of $3,142,911.42. Following the completion of the transaction, the insider owned 75,290 shares of the company’s stock, valued at $26,298,044.10. This trade represents a 10.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director John L. Hennessy sold 1,050 shares of the business’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $368.63, for a total transaction of $387,061.50. Following the completion of the sale, the director owned 1,481 shares in the company, valued at approximately $545,941.03. This trade represents a 41.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 160,465 shares of company stock valued at $8,020,511 over the last three months. 12.99% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on GOOG shares. Scotiabank reissued an “outperform” rating and issued a $450.00 target price (up from $400.00) on shares of Alphabet in a report on Thursday, April 30th. TD Cowen increased their price target on Alphabet from $450.00 to $475.00 and gave the stock a “buy” rating in a research report on Tuesday, June 9th. Oppenheimer raised their price target on Alphabet from $425.00 to $445.00 and gave the stock an “outperform” rating in a report on Friday, May 15th. Weiss Ratings restated a “buy (b)” rating on shares of Alphabet in a research note on Monday, April 20th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Alphabet in a research report on Monday, June 22nd. Five investment analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $378.53.

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Key Alphabet News

Here are the key news stories impacting Alphabet this week:

Alphabet Trading Down 1.2%

NASDAQ:GOOG opened at $350.67 on Tuesday. Alphabet Inc. has a 1 year low of $180.71 and a 1 year high of $404.47. The stock has a market cap of $4.25 trillion, a price-to-earnings ratio of 26.75, a PEG ratio of 1.52 and a beta of 1.23. The business has a fifty day moving average of $369.19 and a 200-day moving average of $335.63. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.92 and a current ratio of 1.92.

Alphabet (NASDAQ:GOOGGet Free Report) last issued its quarterly earnings data on Thursday, April 30th. The information services provider reported $5.11 earnings per share for the quarter, beating analysts’ consensus estimates of $2.68 by $2.43. The business had revenue of $109.90 billion for the quarter, compared to analysts’ expectations of $106.96 billion. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. The company’s revenue was up 21.8% on a year-over-year basis. During the same period in the previous year, the business earned $2.81 earnings per share. Equities analysts predict that Alphabet Inc. will post 14.32 earnings per share for the current year.

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 8th were issued a dividend of $0.22 per share. The ex-dividend date of this dividend was Monday, June 8th. This is a positive change from Alphabet’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a yield of 0.3%. Alphabet’s dividend payout ratio is presently 6.71%.

Alphabet Profile

(Free Report)

Alphabet Inc (NASDAQ: GOOG) is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as “Other Bets.” Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company’s history.

Alphabet’s core business centers on internet search and advertising, with Google Search and the company’s ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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