Golden Road Advisors LLC Cuts Stake in Alphabet Inc. (NASDAQ:GOOG)

Golden Road Advisors LLC lowered its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 5.2% in the 1st quarter, HoldingsChannel.com reports. The firm owned 2,073 shares of the information services provider’s stock after selling 113 shares during the period. Alphabet comprises approximately 0.3% of Golden Road Advisors LLC’s portfolio, making the stock its 29th biggest holding. Golden Road Advisors LLC’s holdings in Alphabet were worth $316,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Fiduciary Alliance LLC lifted its stake in shares of Alphabet by 1.4% during the 1st quarter. Fiduciary Alliance LLC now owns 4,867 shares of the information services provider’s stock worth $762,000 after acquiring an additional 67 shares during the last quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO lifted its stake in shares of Alphabet by 0.8% during the 1st quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 8,588 shares of the information services provider’s stock worth $1,308,000 after acquiring an additional 68 shares during the last quarter. Cranbrook Wealth Management LLC lifted its stake in shares of Alphabet by 14.0% during the 4th quarter. Cranbrook Wealth Management LLC now owns 570 shares of the information services provider’s stock worth $80,000 after acquiring an additional 70 shares during the last quarter. Saratoga Research & Investment Management lifted its stake in shares of Alphabet by 0.5% during the 1st quarter. Saratoga Research & Investment Management now owns 14,706 shares of the information services provider’s stock worth $2,239,000 after acquiring an additional 72 shares during the last quarter. Finally, Manchester Financial Inc. lifted its stake in shares of Alphabet by 3.6% during the 4th quarter. Manchester Financial Inc. now owns 2,124 shares of the information services provider’s stock worth $299,000 after acquiring an additional 74 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insider Activity

In other news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $155.67, for a total value of $3,502,575.00. Following the transaction, the chief executive officer now directly owns 2,325,513 shares in the company, valued at approximately $362,012,608.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director John L. Hennessy sold 2,100 shares of the business’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $175.76, for a total transaction of $369,096.00. Following the transaction, the director now directly owns 5,891 shares in the company, valued at approximately $1,035,402.16. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $155.67, for a total value of $3,502,575.00. Following the transaction, the chief executive officer now owns 2,325,513 shares in the company, valued at $362,012,608.71. The disclosure for this sale can be found here. In the last three months, insiders have sold 142,344 shares of company stock worth $23,920,676. 12.99% of the stock is currently owned by company insiders.

Alphabet Trading Up 0.6 %

Shares of NASDAQ:GOOG opened at $184.49 on Tuesday. Alphabet Inc. has a 12-month low of $115.83 and a 12-month high of $187.50. The business’s fifty day simple moving average is $174.40 and its 200-day simple moving average is $155.84. The company has a market capitalization of $2.28 trillion, a PE ratio of 28.30, a P/E/G ratio of 1.38 and a beta of 1.05. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05.

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

Alphabet Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on GOOG shares. Rosenblatt Securities lowered Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target for the company. in a research note on Friday. Morgan Stanley reaffirmed an “overweight” rating and set a $165.00 target price on shares of Alphabet in a research report on Thursday, April 11th. Stifel Nicolaus lifted their target price on Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Finally, Oppenheimer lifted their target price on Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research report on Monday, April 8th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $167.86.

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.