Alphabet Inc. (NASDAQ:GOOG) Stake Lessened by Marest Capital LLC

Marest Capital LLC cut its stake in Alphabet Inc. (NASDAQ:GOOG) by 32.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,749 shares of the information services provider’s stock after selling 6,490 shares during the period. Alphabet accounts for approximately 1.9% of Marest Capital LLC’s portfolio, making the stock its 5th largest position. Marest Capital LLC’s holdings in Alphabet were worth $2,093,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Capital International Investors increased its stake in shares of Alphabet by 1.1% during the fourth quarter. Capital International Investors now owns 80,246,520 shares of the information services provider’s stock valued at $11,309,370,000 after purchasing an additional 862,550 shares in the last quarter. Norges Bank purchased a new stake in shares of Alphabet in the 4th quarter worth approximately $4,101,040,000. Charles Schwab Investment Management Inc. increased its position in Alphabet by 1.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 28,800,413 shares of the information services provider’s stock valued at $4,058,842,000 after buying an additional 481,376 shares in the last quarter. Sanders Capital LLC raised its stake in Alphabet by 2.9% during the fourth quarter. Sanders Capital LLC now owns 28,558,000 shares of the information services provider’s stock valued at $4,024,679,000 after buying an additional 813,428 shares during the last quarter. Finally, Franklin Resources Inc. boosted its holdings in Alphabet by 0.8% in the fourth quarter. Franklin Resources Inc. now owns 12,638,895 shares of the information services provider’s stock worth $1,781,200,000 after acquiring an additional 97,603 shares in the last quarter. 27.26% of the stock is owned by institutional investors.

Alphabet Price Performance

NASDAQ GOOG opened at $187.39 on Thursday. Alphabet Inc. has a one year low of $115.83 and a one year high of $187.62. The stock has a 50-day moving average of $175.47 and a 200 day moving average of $156.57. 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 company has a market capitalization of $2.32 trillion, a price-to-earnings ratio of 28.74, a PEG ratio of 1.40 and a beta of 1.05.

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

Alphabet Dividend Announcement

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

Insider Activity

In related news, CEO Sundar Pichai sold 22,500 shares of the company’s 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 sale, the chief executive officer now owns 2,227,385 shares in the company, valued at $415,941,874.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $166.67, for a total value of $113,668.94. Following the completion of the sale, the chief accounting officer now directly owns 29,284 shares in the company, valued at approximately $4,880,764.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet 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 transaction, 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. Insiders have sold 146,288 shares of company stock valued at $25,345,053 in the last ninety days. 12.99% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages have recently weighed in on GOOG. Rosenblatt Securities downgraded Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target for the company. in a report on Friday, June 28th. Stifel Nicolaus raised 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. Oppenheimer lifted their target price on shares of Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a report on Monday, April 8th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $165.00 price target on shares of Alphabet in a report on Thursday, April 11th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Alphabet has a consensus 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.