DT Investment Partners LLC Lowers Position in Alphabet Inc. (NASDAQ:GOOG)

DT Investment Partners LLC cut its stake in Alphabet Inc. (NASDAQ:GOOG) by 4.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,259 shares of the information services provider’s stock after selling 589 shares during the quarter. DT Investment Partners LLC’s holdings in Alphabet were worth $2,228,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. LSV Asset Management purchased a new stake in shares of Alphabet in the fourth quarter worth approximately $27,000. Principia Wealth Advisory LLC increased its position in shares of Alphabet by 111.8% during the first quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider’s stock valued at $26,000 after acquiring an additional 85 shares during the last quarter. MorganRosel Wealth Management LLC purchased a new stake in shares of Alphabet during the first quarter valued at approximately $26,000. WealthTrak Capital Management LLC purchased a new stake in shares of Alphabet during the fourth quarter valued at approximately $38,000. Finally, Mountain Hill Investment Partners Corp. purchased a new stake in shares of Alphabet during the fourth quarter valued at approximately $39,000. 27.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on GOOG. Tigress Financial reaffirmed a “strong-buy” rating on shares of Alphabet in a research report on Friday, May 2nd. The Goldman Sachs Group reaffirmed a “buy” rating and set a $220.00 price target on shares of Alphabet in a research report on Monday, June 2nd. Needham & Company LLC downgraded Alphabet from a “buy” rating to a “cautious” rating in a research report on Friday, May 2nd. Citizens Jmp raised Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Thursday, June 26th. Finally, Oppenheimer increased their price target on Alphabet from $185.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, April 25th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, fourteen have assigned a buy rating and six have assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $206.38.

Insider Activity at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total transaction of $5,801,900.00. Following the completion of the sale, the chief executive officer owned 2,559,892 shares of the company’s stock, valued at approximately $456,991,919.84. This trade represents a 1.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kavitark Ram Shriram sold 9,000 shares of Alphabet stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $1,575,000.00. Following the sale, the director directly owned 255,400 shares of the company’s stock, valued at $44,695,000. This represents a 3.40% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 215,643 shares of company stock valued at $36,330,928. Company insiders own 12.99% of the company’s stock.

Alphabet Price Performance

Alphabet stock opened at $180.22 on Friday. Alphabet Inc. has a one year low of $142.66 and a one year high of $208.70. The business has a fifty day moving average price of $169.97 and a 200-day moving average price of $175.49. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.77 and a quick ratio of 1.77. The firm has a market capitalization of $2.19 trillion, a P/E ratio of 20.09, a PEG ratio of 1.27 and a beta of 1.01.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping analysts’ consensus estimates of $2.02 by $0.79. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. The firm had revenue of $90.23 billion during the quarter, compared to analyst estimates of $89.30 billion. During the same period last year, the company earned $1.89 earnings per share. The business’s revenue for the quarter was up 12.0% on a year-over-year basis. As a group, equities research analysts forecast that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 9th were paid a dividend of $0.21 per share. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date was Monday, June 9th. This represents a $0.84 annualized dividend and a yield of 0.47%. Alphabet’s dividend payout ratio (DPR) is currently 9.36%.

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.