Destiny Wealth Partners LLC Sells 196 Shares of Alphabet Inc. (NASDAQ:GOOG)

Destiny Wealth Partners LLC lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 3.0% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,373 shares of the information services provider’s stock after selling 196 shares during the quarter. Destiny Wealth Partners LLC’s holdings in Alphabet were worth $996,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in GOOG. ARQ Wealth Advisors LLC boosted its position in shares of Alphabet by 39.3% in the fourth quarter. ARQ Wealth Advisors LLC now owns 4,964 shares of the information services provider’s stock valued at $945,000 after acquiring an additional 1,400 shares during the period. Independence Bank of Kentucky boosted its position in shares of Alphabet by 10.2% in the first quarter. Independence Bank of Kentucky now owns 14,907 shares of the information services provider’s stock valued at $2,329,000 after acquiring an additional 1,376 shares during the period. Harvest Investment Services LLC boosted its position in shares of Alphabet by 3.3% in the fourth quarter. Harvest Investment Services LLC now owns 4,329 shares of the information services provider’s stock valued at $824,000 after acquiring an additional 138 shares during the period. North Forty Two & Co. bought a new stake in shares of Alphabet in the fourth quarter valued at approximately $281,000. Finally, Fermata Advisors LLC boosted its position in shares of Alphabet by 2.7% in the first quarter. Fermata Advisors LLC now owns 9,771 shares of the information services provider’s stock valued at $1,527,000 after acquiring an additional 259 shares during the period. Institutional investors own 27.26% of the company’s stock.

Alphabet Stock Performance

Alphabet stock opened at $174.92 on Monday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The stock has a fifty day moving average price of $161.88 and a two-hundred day moving average price of $176.09. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $208.70. The firm has a market capitalization 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.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating analysts’ consensus estimates of $2.02 by $0.79. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The company 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 posted $1.89 earnings per share. The firm’s quarterly revenue was up 12.0% compared to the same quarter last year. As a group, 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. Stockholders of record on Monday, June 9th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Monday, June 9th. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.48%. Alphabet’s dividend payout ratio (DPR) is 9.36%.

Analyst Ratings Changes

GOOG has been the subject of several research reports. JPMorgan Chase & Co. increased their price objective on Alphabet from $180.00 to $195.00 and gave the company an “overweight” rating in a research report on Friday, April 25th. UBS Group reduced their target price on Alphabet from $209.00 to $173.00 and set a “neutral” rating for the company in a research report on Friday, April 11th. Westpark Capital reaffirmed a “buy” rating and issued a $210.00 target price on shares of Alphabet in a research report on Friday, April 25th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $171.00 target price on shares of Alphabet in a research report on Friday, April 25th. Finally, KeyCorp reduced their target price on Alphabet from $202.00 to $185.00 and set an “overweight” rating for the company in a research report on Wednesday, April 9th. Three analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have assigned a buy rating and five have given a strong buy rating to the stock. According to data from MarketBeat, Alphabet has an average rating of “Moderate Buy” and an average price target of $204.88.

Insider Activity

In other news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total value of $5,153,200.00. Following the completion of the sale, the chief executive officer now directly owns 2,717,696 shares in the company, valued at approximately $430,917,877.76. This trade represents a 1.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director John L. Hennessy sold 200 shares of the firm’s stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $165.53, for a total value of $33,106.00. Following the completion of the sale, the director now owns 7,813 shares of the company’s stock, valued at approximately $1,293,285.89. This trade represents a 2.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 195,770 shares of company stock worth $32,036,638. 12.99% of the stock is owned by corporate insiders.

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.