Alphabet Inc. (NASDAQ:GOOG) Stock Position Lowered by SeaCrest Wealth Management LLC

SeaCrest Wealth Management LLC lowered its stake in Alphabet Inc. (NASDAQ:GOOG) by 2.4% during the 1st quarter, Holdings Channel reports. The institutional investor owned 124,521 shares of the information services provider’s stock after selling 3,067 shares during the period. Alphabet makes up approximately 2.3% of SeaCrest Wealth Management LLC’s portfolio, making the stock its 5th biggest holding. SeaCrest Wealth Management LLC’s holdings in Alphabet were worth $18,960,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently modified their holdings of the stock. Bruce G. Allen Investments LLC purchased a new position in Alphabet during the 4th quarter valued at about $26,000. Partnership Wealth Management LLC bought a new stake in Alphabet during the 4th quarter valued at approximately $26,000. Equitec Proprietary Markets LLC bought a new stake in Alphabet during the 4th quarter valued at approximately $28,000. DiNuzzo Private Wealth Inc. bought a new stake in Alphabet during the 4th quarter valued at approximately $32,000. Finally, Pacific Capital Wealth Advisors Inc. bought a new stake in Alphabet during the 4th quarter valued at approximately $34,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Price Performance

Shares of GOOG opened at $186.61 on Wednesday. The firm has a market cap of $2.31 trillion, a PE ratio of 28.62, 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. The firm has a fifty day simple moving average of $174.93 and a two-hundred day simple moving average of $156.20. Alphabet Inc. has a 1-year low of $115.83 and a 1-year high of $187.50.

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

Alphabet Dividend Announcement

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

Insider Transactions at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $157.41, for a total value of $3,541,725.00. Following the completion of the sale, the chief executive officer now owns 2,303,011 shares in the company, valued at approximately $362,516,961.51. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Alphabet news, Director John L. Hennessy sold 800 shares of the stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $159.56, for a total transaction of $127,648.00. Following the completion of the transaction, the director now owns 7,991 shares of the company’s stock, valued at approximately $1,275,043.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $157.41, for a total transaction of $3,541,725.00. Following the transaction, the chief executive officer now directly owns 2,303,011 shares of the company’s stock, valued at approximately $362,516,961.51. The disclosure for this sale can be found here. Insiders sold 123,788 shares of company stock worth $21,143,403 in the last three months. Corporate insiders own 12.99% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the company. Morgan Stanley reaffirmed an “overweight” rating and set a $165.00 price objective on shares of Alphabet in a research report on Thursday, April 11th. Stifel Nicolaus boosted their price target on Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Oppenheimer upped their price objective 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 price objective on the stock. in a research report on Friday, June 28th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and a consensus price target 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.