Alphabet Inc. $GOOG Position Decreased by Ramsay Stattman Vela & Price Inc.

Ramsay Stattman Vela & Price Inc. lowered its holdings in Alphabet Inc. (NASDAQ:GOOGFree Report) by 10.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 86,756 shares of the information services provider’s stock after selling 10,337 shares during the period. Alphabet accounts for 4.9% of Ramsay Stattman Vela & Price Inc.’s investment portfolio, making the stock its 4th biggest position. Ramsay Stattman Vela & Price Inc.’s holdings in Alphabet were worth $24,887,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in GOOG. Imprint Wealth LLC purchased a new stake in Alphabet in the 3rd quarter valued at about $31,000. Nvest Wealth Strategies Inc. acquired a new stake in shares of Alphabet in the fourth quarter worth approximately $38,000. Lifetime Wealth Management P.C. purchased a new stake in Alphabet in the fourth quarter valued at approximately $38,000. Bard Associates Inc. purchased a new stake in Alphabet in the fourth quarter valued at approximately $41,000. Finally, Towne Trust Company N.A increased its position in Alphabet by 34.0% during the fourth quarter. Towne Trust Company N.A now owns 134 shares of the information services provider’s stock worth $42,000 after purchasing an additional 34 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. The Goldman Sachs Group reissued a “buy” rating and set a $450.00 price objective on shares of Alphabet in a research note on Thursday, May 21st. Truist Financial set a $430.00 price target on Alphabet in a research note on Monday, June 1st. TD Cowen raised their price objective on Alphabet from $450.00 to $475.00 and gave the stock a “buy” rating in a report on Tuesday, June 9th. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $425.00 price objective on shares of Alphabet in a research note on Thursday, April 30th. Finally, Oppenheimer increased their target price on shares of Alphabet from $425.00 to $445.00 and gave the stock an “outperform” rating in a research report on Friday, May 15th. Five equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $378.53.

Check Out Our Latest Research Report on Alphabet

Alphabet News Roundup

Here are the key news stories impacting Alphabet this week:

Alphabet Stock Performance

Alphabet stock opened at $350.67 on Tuesday. The firm has a market capitalization of $4.25 trillion, a PE ratio of 26.75, a price-to-earnings-growth ratio of 1.52 and a beta of 1.23. Alphabet Inc. has a one year low of $180.71 and a one year high of $404.47. The stock’s 50 day moving average price is $369.19 and its 200 day moving average price is $335.63. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.92 and a current ratio of 1.92.

Alphabet (NASDAQ:GOOGGet Free Report) last posted its quarterly earnings data on Thursday, April 30th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.68 by $2.43. The company had revenue of $109.90 billion for the quarter, compared to analyst estimates of $106.96 billion. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. The business’s quarterly revenue was up 21.8% on a year-over-year basis. During the same quarter last year, the firm posted $2.81 earnings per share. As a group, sell-side analysts expect that Alphabet Inc. will post 14.32 EPS for the current fiscal year.

Alphabet Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 8th were given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Monday, June 8th. This is an increase from Alphabet’s previous quarterly dividend of $0.21. Alphabet’s dividend payout ratio is currently 6.71%.

Insider Activity at Alphabet

In related news, CAO Marsida Saraci sold 449 shares of the stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $341.72, for a total value of $153,432.28. Following the completion of the transaction, the chief accounting officer owned 27,348 shares of the company’s stock, valued at approximately $9,345,358.56. This represents a 1.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director John L. Hennessy sold 1,050 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $368.63, for a total value of $387,061.50. Following the sale, the director owned 1,481 shares of the company’s stock, valued at approximately $545,941.03. This trade represents a 41.49% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 160,465 shares of company stock valued at $8,020,511. 12.99% of the stock is currently owned by insiders.

Alphabet Company 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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