Alphabet Inc. (NASDAQ:GOOG) Shares Sold by IMC Chicago LLC

IMC Chicago LLC reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 94.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 234,423 shares of the information services provider’s stock after selling 3,964,567 shares during the quarter. IMC Chicago LLC’s holdings in Alphabet were worth $36,624,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GOOG. LSV Asset Management acquired a new stake in shares of Alphabet during the fourth quarter worth about $27,000. Principia Wealth Advisory LLC boosted its position in shares of Alphabet by 111.8% in the 1st quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 85 shares during the period. WealthTrak Capital Management LLC purchased a new position in Alphabet during the 4th quarter worth approximately $38,000. Mountain Hill Investment Partners Corp. purchased a new position in Alphabet during the 4th quarter worth approximately $39,000. Finally, Noble Wealth Management PBC acquired a new position in Alphabet during the fourth quarter worth approximately $43,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have weighed in on GOOG. Tigress Financial reiterated a “strong-buy” rating on shares of Alphabet in a research note on Friday, May 2nd. Scotiabank reduced their price target on shares of Alphabet from $232.00 to $200.00 and set a “sector outperform” rating for the company in a research report on Monday, April 21st. JPMorgan Chase & Co. increased their price target on shares of Alphabet from $180.00 to $195.00 and gave the stock an “overweight” rating in a research note on Friday, April 25th. KeyCorp dropped their price objective on shares of Alphabet from $202.00 to $185.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 9th. Finally, Citigroup reaffirmed a “sell” rating on shares of Alphabet in a report on Wednesday, April 23rd. Three research analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have issued a buy rating and five have issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $204.88.

Alphabet Stock Performance

GOOG opened at $174.92 on Monday. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $208.70. The stock has a market cap of $2.12 trillion, a P/E ratio of 21.73, a P/E/G ratio of 1.34 and a beta of 1.01. The stock’s 50 day simple moving average is $161.88 and its 200 day simple moving average is $176.09. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.79. The company had revenue of $90.23 billion for the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. Alphabet’s revenue was up 12.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.89 earnings per share. As a group, equities analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be issued a dividend of $0.21 per share. This is an increase from Alphabet’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 0.48%. The ex-dividend date is Monday, June 9th. Alphabet’s dividend payout ratio (DPR) is 9.36%.

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O’toole sold 673 shares of the company’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total value of $104,537.09. Following the sale, the chief accounting officer now directly owns 15,303 shares in the company, valued at $2,377,014.99. This represents a 4.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kavitark Ram Shriram sold 10,500 shares of Alphabet stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $1,837,500.00. Following the sale, the director now owns 261,966 shares of the company’s stock, valued at approximately $45,844,050. This represents a 3.85% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 195,770 shares of company stock worth $32,036,638. 12.99% of the stock is owned by corporate insiders.

About Alphabet

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.