Sunbelt Securities Inc. Has $5.23 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Sunbelt Securities Inc. lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 4.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 34,367 shares of the information services provider’s stock after selling 1,470 shares during the period. Sunbelt Securities Inc.’s holdings in Alphabet were worth $5,233,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in GOOG. Bruce G. Allen Investments LLC acquired a new position in shares of Alphabet during the fourth quarter valued at about $26,000. Partnership Wealth Management LLC acquired a new position in Alphabet during the 4th quarter valued at about $26,000. Equitec Proprietary Markets LLC bought a new stake in Alphabet during the 4th quarter worth approximately $28,000. DiNuzzo Private Wealth Inc. purchased a new stake in shares of Alphabet in the fourth quarter worth approximately $32,000. Finally, Pacific Capital Wealth Advisors Inc. bought a new position in shares of Alphabet in the fourth quarter valued at approximately $34,000. Institutional investors own 27.26% of the company’s stock.

Alphabet Stock Performance

Shares of GOOG stock opened at $186.86 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15. The firm has a market cap of $2.31 trillion, a price-to-earnings ratio of 28.66, a P/E/G ratio of 1.39 and a beta of 1.01. Alphabet Inc. has a 52 week low of $115.83 and a 52 week high of $187.50. The firm’s 50-day simple moving average is $173.26 and its two-hundred day simple moving average is $154.97.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.51 by $0.38. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The company had revenue of $80.54 billion for the quarter, compared to analysts’ expectations of $78.75 billion. During the same quarter in the previous year, the firm posted $1.17 EPS. Alphabet’s revenue was up 15.4% on a year-over-year basis. As a group, equities analysts forecast that Alphabet Inc. will post 7.6 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently declared a — dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 10th were paid a dividend of $0.20 per share. The ex-dividend date was Monday, June 10th. Alphabet’s payout ratio is 12.27%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on GOOG. Morgan Stanley reiterated an “overweight” rating and set a $165.00 price target on shares of Alphabet in a report on Thursday, April 11th. Oppenheimer raised their price target on shares of Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research report on Monday, April 8th. Finally, Stifel Nicolaus upped their price objective on shares of Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Six analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $165.67.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $154.79, for a total transaction of $105,566.78. Following the completion of the transaction, the chief accounting officer now owns 29,284 shares in the company, valued at $4,532,870.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $154.79, for a total transaction of $105,566.78. Following the sale, the chief accounting officer now directly owns 29,284 shares in the company, valued at approximately $4,532,870.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $155.67, for a total transaction of $3,502,575.00. Following the completion of the transaction, the chief executive officer now owns 2,325,513 shares of the company’s stock, valued at $362,012,608.71. The disclosure for this sale can be found here. In the last 90 days, insiders sold 146,284 shares of company stock valued at $24,534,393. 12.99% of the stock is owned by insiders.

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.