Lodestone Wealth Management LLC Sells 237 Shares of Alphabet Inc. (NASDAQ:GOOG)

Lodestone Wealth Management LLC cut its holdings in Alphabet Inc. (NASDAQ:GOOG) by 1.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,413 shares of the information services provider’s stock after selling 237 shares during the period. Alphabet makes up 1.7% of Lodestone Wealth Management LLC’s portfolio, making the stock its 15th largest position. Lodestone Wealth Management LLC’s holdings in Alphabet were worth $3,260,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Woodward Diversified Capital LLC increased its position in Alphabet by 0.7% in the 1st quarter. Woodward Diversified Capital LLC now owns 8,609 shares of the information services provider’s stock valued at $1,311,000 after acquiring an additional 62 shares during the period. Intergy Private Wealth LLC increased its position in shares of Alphabet by 1.9% in the first quarter. Intergy Private Wealth LLC now owns 3,393 shares of the information services provider’s stock valued at $517,000 after buying an additional 63 shares in the last quarter. Smith Anglin Financial LLC raised its position in Alphabet by 2.0% during the first quarter. Smith Anglin Financial LLC now owns 3,223 shares of the information services provider’s stock worth $491,000 after acquiring an additional 64 shares during the last quarter. Fiduciary Alliance LLC lifted its stake in Alphabet by 1.4% in the 1st quarter. Fiduciary Alliance LLC now owns 4,867 shares of the information services provider’s stock valued at $762,000 after buying an additional 67 shares in the last quarter. Finally, Town & Country Bank & Trust CO dba First Bankers Trust CO raised its holdings in shares of Alphabet by 0.8% in the first quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 8,588 shares of the information services provider’s stock worth $1,308,000 after acquiring an additional 68 shares during the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Stock Up 2.4 %

GOOG traded up $4.57 during trading hours on Friday, reaching $191.96. 14,303,361 shares of the stock traded hands, compared to its average volume of 15,944,221. Alphabet Inc. has a fifty-two week low of $115.83 and a fifty-two week high of $192.26. 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 company has a market cap of $2.37 trillion, a price-to-earnings ratio of 29.44, a PEG ratio of 1.41 and a beta of 1.05. The firm’s fifty day simple moving average is $176.95 and its two-hundred day simple moving average is $157.38.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data 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 firm had revenue of $80.54 billion during the quarter, compared to analyst estimates of $78.75 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. Alphabet’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. As a group, analysts forecast that Alphabet Inc. will post 7.6 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

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

Insider Transactions at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, July 3rd. The stock was 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 directly owns 2,227,385 shares of the company’s stock, valued at $415,941,874.90. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $166.67, for a total transaction of $113,668.94. Following the completion of the transaction, the chief accounting officer now directly owns 29,284 shares of the company’s stock, valued at $4,880,764.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was 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 directly owns 2,227,385 shares in the company, valued at approximately $415,941,874.90. The disclosure for this sale can be found here. In the last 90 days, insiders sold 146,288 shares of company stock valued at $25,345,053. Insiders own 12.99% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on GOOG. Stifel Nicolaus upped 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. Morgan Stanley reiterated an “overweight” rating and issued a $165.00 target price on shares of Alphabet in a research note on Thursday, April 11th. Oppenheimer raised their price target on Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research note on Monday, April 8th. Finally, Rosenblatt Securities cut 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. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $167.86.

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.