Alphabet Inc. $GOOG Shares Sold by Pragma Gestao DE Patrimonio Ltd.

Pragma Gestao DE Patrimonio Ltd. cut its stake in Alphabet Inc. (NASDAQ:GOOGFree Report) by 7.7% in the fourth quarter, HoldingsChannel reports. The fund owned 52,800 shares of the information services provider’s stock after selling 4,400 shares during the period. Alphabet accounts for approximately 7.1% of Pragma Gestao DE Patrimonio Ltd.’s investment portfolio, making the stock its 4th largest holding. Pragma Gestao DE Patrimonio Ltd.’s holdings in Alphabet were worth $16,569,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of GOOG. Brighton Jones LLC lifted its holdings in Alphabet by 5.6% in the fourth quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider’s stock valued at $22,901,000 after acquiring an additional 6,410 shares during the period. Worldquant Millennium Advisors LLC lifted its holdings in Alphabet by 76.2% in the second quarter. Worldquant Millennium Advisors LLC now owns 1,865,304 shares of the information services provider’s stock valued at $330,886,000 after acquiring an additional 806,681 shares during the period. Darwin Wealth Management LLC acquired a new position in Alphabet in the second quarter valued at approximately $658,000. Financial Advisors Network Inc. lifted its holdings in Alphabet by 7.7% in the second quarter. Financial Advisors Network Inc. now owns 7,945 shares of the information services provider’s stock valued at $1,409,000 after acquiring an additional 565 shares during the period. Finally, Ausdal Financial Partners Inc. increased its position in shares of Alphabet by 10.7% in the second quarter. Ausdal Financial Partners Inc. now owns 37,310 shares of the information services provider’s stock valued at $6,618,000 after buying an additional 3,616 shares in the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Alphabet Stock Up 2.5%

Alphabet stock opened at $367.11 on Tuesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.92 and a quick ratio of 1.92. Alphabet Inc. has a 12 month low of $163.33 and a 12 month high of $404.47. The stock has a market capitalization of $4.45 trillion, a PE ratio of 28.00, a price-to-earnings-growth ratio of 1.53 and a beta of 1.23. The business has a 50 day simple moving average of $359.16 and a 200-day simple moving average of $329.82.

Alphabet (NASDAQ:GOOGGet Free Report) last issued its quarterly earnings results on Thursday, April 30th. The information services provider reported $5.11 EPS for the quarter, topping the consensus estimate of $2.68 by $2.43. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.The firm had revenue of $109.90 billion during the quarter, compared to analysts’ expectations of $106.96 billion. During the same period in the previous year, the business earned $2.81 earnings per share. The firm’s revenue for the quarter was up 21.8% on a year-over-year basis. On average, analysts anticipate that Alphabet Inc. will post 14.3 EPS for the current fiscal year.

Alphabet Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 8th were given a dividend of $0.22 per share. The ex-dividend date was Monday, June 8th. This is a positive change from Alphabet’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a dividend yield of 0.2%. Alphabet’s dividend payout ratio (DPR) is presently 6.71%.

Insider Activity

In related news, Director John L. Hennessy sold 1,050 shares of the business’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $393.26, for a total transaction of $412,923.00. Following the completion of the sale, the director directly owned 2,531 shares in the company, valued at approximately $995,341.06. The trade was a 29.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Frances Arnold sold 102 shares of the business’s stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $381.00, for a total value of $38,862.00. Following the sale, the director owned 18,721 shares of the company’s stock, valued at $7,132,701. The trade was a 0.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 191,966 shares of company stock valued at $16,963,968 in the last three months. Company insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

GOOG has been the subject of a number of recent analyst reports. Citigroup restated a “market outperform” rating on shares of Alphabet in a research report on Monday, June 1st. DZ Bank upgraded Alphabet to a “strong-buy” rating in a research report on Monday, February 16th. The Goldman Sachs Group restated a “buy” rating and issued a $450.00 price objective on shares of Alphabet in a research report on Thursday, May 21st. KeyCorp restated an “overweight” rating on shares of Alphabet in a research report on Wednesday, May 20th. Finally, TD Cowen boosted their price objective on Alphabet from $450.00 to $475.00 and gave the company a “buy” rating in a research report on Tuesday, June 9th. Five analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Alphabet currently has an average rating of “Buy” and an average target price of $376.78.

Read Our Latest Report on GOOG

Alphabet News Roundup

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Alphabet Profile

(Free Report)

Alphabet Inc (NASDAQ: GOOG) is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as “Other Bets.” Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company’s history.

Alphabet’s core business centers on internet search and advertising, with Google Search and the company’s ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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