O Brien Wealth Partners LLC Cuts Position in Alphabet Inc. (NASDAQ:GOOG)

O Brien Wealth Partners LLC lessened its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 22.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,195 shares of the information services provider’s stock after selling 351 shares during the quarter. O Brien Wealth Partners LLC’s holdings in Alphabet were worth $182,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in GOOG. Legacy Advisors LLC grew its holdings in Alphabet by 13.7% during the 3rd quarter. Legacy Advisors LLC now owns 35,489 shares of the information services provider’s stock valued at $4,355,000 after buying an additional 4,270 shares in the last quarter. Lakeshore Financial Planning Inc. purchased a new position in shares of Alphabet in the 3rd quarter worth approximately $513,000. LaSalle St. Investment Advisors LLC boosted its holdings in shares of Alphabet by 14.8% in the 3rd quarter. LaSalle St. Investment Advisors LLC now owns 2,799 shares of the information services provider’s stock worth $369,000 after purchasing an additional 360 shares during the period. Lake Street Advisors Group LLC boosted its holdings in shares of Alphabet by 49.7% in the 3rd quarter. Lake Street Advisors Group LLC now owns 79,675 shares of the information services provider’s stock worth $10,505,000 after purchasing an additional 26,468 shares during the period. Finally, Kinetic Partners Management LP boosted its holdings in shares of Alphabet by 23.3% in the 3rd quarter. Kinetic Partners Management LP now owns 444,100 shares of the information services provider’s stock worth $58,555,000 after purchasing an additional 83,900 shares during the period. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Price Performance

Shares of GOOG stock opened at $184.49 on Tuesday. Alphabet Inc. has a 52-week low of $115.83 and a 52-week high of $187.50. 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 capitalization of $2.28 trillion, a P/E ratio of 28.30, a P/E/G ratio of 1.38 and a beta of 1.05. The stock has a 50 day moving average price of $174.40 and a 200 day moving average price of $155.84.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $80.54 billion during the quarter, compared to analyst estimates of $78.75 billion. During the same period last year, the company earned $1.17 EPS. Alphabet’s quarterly revenue was up 15.4% compared to the same quarter last year. As a group, sell-side analysts predict that Alphabet Inc. will post 7.6 earnings per share for the current year.

Alphabet Dividend Announcement

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

Analyst Ratings Changes

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

Insider Buying and Selling at Alphabet

In other Alphabet 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 transaction of $3,502,575.00. Following the completion of the sale, the chief executive officer now directly owns 2,325,513 shares of the company’s stock, valued at approximately $362,012,608.71. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Alphabet 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 transaction of $3,502,575.00. Following the completion of the sale, the chief executive officer now directly owns 2,325,513 shares of the company’s stock, valued at approximately $362,012,608.71. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John L. Hennessy sold 2,100 shares of Alphabet stock in a transaction on Friday, April 26th. The shares were sold at an average price of $175.76, for a total value of $369,096.00. Following the sale, the director now directly owns 5,891 shares of the company’s stock, valued at $1,035,402.16. The disclosure for this sale can be found here. Insiders sold a total of 142,344 shares of company stock valued at $23,920,676 in the last ninety days. Corporate insiders own 12.99% of the company’s stock.

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.