Austin Private Wealth LLC Cuts Position in Alphabet Inc. (NASDAQ:GOOG)

Austin Private Wealth LLC cut its stake in Alphabet Inc. (NASDAQ:GOOG) by 0.9% in the 1st quarter, Holdings Channel reports. The fund owned 20,459 shares of the information services provider’s stock after selling 179 shares during the quarter. Austin Private Wealth LLC’s holdings in Alphabet were worth $3,199,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GOOG. Bruce G. Allen Investments LLC purchased a new stake in Alphabet during the fourth quarter valued at about $26,000. Partnership Wealth Management LLC purchased a new stake in Alphabet during the fourth quarter valued at about $26,000. Equitec Proprietary Markets LLC purchased a new stake in Alphabet during the fourth quarter valued at about $28,000. DiNuzzo Private Wealth Inc. purchased a new stake in Alphabet during the fourth quarter valued at about $32,000. Finally, Pacific Capital Wealth Advisors Inc. purchased a new stake in Alphabet during the fourth quarter valued at about $34,000. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $177.40, for a total value of $3,991,500.00. Following the completion of the transaction, the chief executive officer now directly owns 2,213,011 shares of the company’s stock, valued at $392,588,151.40. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $177.40, for a total transaction of $3,991,500.00. Following the completion of the transaction, the chief executive officer now owns 2,213,011 shares of the company’s stock, valued at $392,588,151.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John L. Hennessy sold 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $177.92, for a total transaction of $266,880.00. Following the transaction, the director now directly owns 3,727 shares of the company’s stock, valued at approximately $663,107.84. The disclosure for this sale can be found here. Insiders sold a total of 158,458 shares of company stock valued at $26,375,053 over the last three months. Corporate insiders own 12.99% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOG has been the subject of several analyst reports. Stifel Nicolaus upped their price target on shares of Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Oppenheimer increased 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 target price on shares of Alphabet in a report on Thursday, April 11th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $165.67.

Alphabet Trading Up 0.3 %

Shares of Alphabet stock traded up $0.53 during trading on Monday, reaching $180.79. 18,177,705 shares of the stock were exchanged, compared to its average volume of 21,453,121. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. The stock’s fifty day moving average is $172.10 and its 200 day moving average is $154.41. The firm has a market cap of $2.23 trillion, a price-to-earnings ratio of 27.73, a price-to-earnings-growth ratio of 1.33 and a beta of 1.01. Alphabet Inc. has a 1 year low of $115.83 and a 1 year high of $182.51.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (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 company had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $78.75 billion. During the same period in the prior year, the firm earned $1.17 earnings per share. Alphabet’s revenue was up 15.4% on a year-over-year basis. As a group, equities research analysts expect that Alphabet Inc. will post 7.6 earnings per share for the current fiscal year.

Alphabet Announces Dividend

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

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.