Stewart & Patten Co. LLC Decreases Position in Alphabet Inc. (NASDAQ:GOOG)

Stewart & Patten Co. LLC cut its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,960 shares of the information services provider’s stock after selling 100 shares during the period. Stewart & Patten Co. LLC’s holdings in Alphabet were worth $1,669,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Legacy Advisors LLC raised its holdings in shares of Alphabet by 13.7% in the third quarter. Legacy Advisors LLC now owns 35,489 shares of the information services provider’s stock worth $4,355,000 after buying an additional 4,270 shares during the period. Lakeshore Financial Planning Inc. bought a new position in Alphabet in the third quarter worth approximately $513,000. LaSalle St. Investment Advisors LLC grew its stake in Alphabet by 14.8% in the third 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 in the last quarter. Lake Street Advisors Group LLC grew its stake in Alphabet by 49.7% in the third 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 in the last quarter. Finally, Kinetic Partners Management LP grew its stake in Alphabet by 23.3% in the third 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 in the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

GOOG has been the topic of several research analyst reports. Stifel Nicolaus increased their price objective on Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Morgan Stanley reissued an “overweight” rating and issued a $165.00 price objective on shares of Alphabet in a research note on Thursday, April 11th. Oppenheimer increased 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. Finally, Rosenblatt Securities cut Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price on the stock. in a research report on Friday. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $167.86.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 22,500 shares of the firm’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 completion of the transaction, the chief executive officer now 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 accessible through this hyperlink. In other Alphabet news, Director John L. Hennessy sold 1,500 shares of Alphabet stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $177.92, for a total transaction of $266,880.00. Following the completion of the transaction, the director now owns 3,727 shares in the company, valued at approximately $663,107.84. The transaction was disclosed in a document filed 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 dated Wednesday, April 3rd. The shares were 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 of the company’s stock, valued at approximately $362,012,608.71. The disclosure for this sale can be found here. Insiders sold 142,344 shares of company stock worth $23,920,676 in the last 90 days. Insiders own 12.99% of the company’s stock.

Alphabet Stock Down 0.3 %

Alphabet stock opened at $183.85 on Tuesday. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.15. The stock has a market capitalization of $2.27 trillion, a price-to-earnings ratio of 28.30, a PEG ratio of 1.38 and a beta of 1.05. Alphabet Inc. has a 1-year low of $115.83 and a 1-year high of $187.50. The business has a fifty day moving average price of $174.40 and a 200-day moving average price of $155.84.

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

Alphabet Announces Dividend

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

Alphabet Profile

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.