Silverlake Wealth Management LLC Reduces Holdings in Alphabet Inc. (NASDAQ:GOOG)

Silverlake Wealth Management LLC cut its stake in Alphabet Inc. (NASDAQ:GOOG) by 2.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,762 shares of the information services provider’s stock after selling 68 shares during the period. Silverlake Wealth Management LLC’s holdings in Alphabet were worth $420,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

A number of research analysts have recently issued reports on GOOG shares. Oppenheimer boosted their target price on Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a report on Monday, April 8th. Stifel Nicolaus boosted their price objective on shares of Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Rosenblatt Securities cut shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price for the company. in a research note on Friday, June 28th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $165.00 target price on shares of Alphabet in a report on Thursday, April 11th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $167.86.

Alphabet Stock Performance

Shares of GOOG opened at $187.39 on Thursday. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 52-week low of $115.83 and a 52-week high of $187.62. The company has a 50-day simple moving average of $175.47 and a 200-day simple moving average of $156.57. The company has a market capitalization of $2.32 trillion, a PE ratio of 28.74, a P/E/G ratio of 1.38 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last issued its 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. The company had revenue of $80.54 billion during the quarter, compared to analysts’ expectations of $78.75 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The firm’s quarterly revenue was up 15.4% compared to the same quarter last year. During the same period last year, the company posted $1.17 earnings per share. Equities research analysts predict that Alphabet Inc. will post 7.6 earnings per share for the current fiscal year.

Alphabet Announces Dividend

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

Insiders Place Their Bets

In other news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $186.74, for a total transaction of $4,201,650.00. Following the completion of the transaction, the chief executive officer now owns 2,227,385 shares of the company’s stock, valued at approximately $415,941,874.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Alphabet news, SVP Prabhakar Raghavan sold 3,262 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $183.99, for a total transaction of $600,175.38. Following the completion of the transaction, the senior vice president now owns 9 shares of the company’s stock, valued at $1,655.91. 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 the company’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $186.74, for a total value of $4,201,650.00. Following the completion of the sale, the chief executive officer now owns 2,227,385 shares in the company, valued at $415,941,874.90. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 146,288 shares of company stock worth $25,345,053. 12.99% of the stock is owned by corporate insiders.

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.