Alphabet Inc. (NASDAQ:GOOG) Holdings Cut by Register Financial Advisors LLC

Register Financial Advisors LLC lowered its holdings in Alphabet Inc. (NASDAQ:GOOG) by 3.2% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,805 shares of the information services provider’s stock after selling 125 shares during the period. Register Financial Advisors LLC’s holdings in Alphabet were worth $594,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of GOOG. Norges Bank bought a new position in Alphabet in the fourth quarter worth about $5,166,070,000. GAMMA Investing LLC raised its holdings in shares of Alphabet by 18,562.3% during the first quarter. GAMMA Investing LLC now owns 14,323,323 shares of the information services provider’s stock valued at $2,237,733,000 after buying an additional 14,246,573 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Alphabet during the fourth quarter valued at approximately $1,551,533,000. Northern Trust Corp raised its holdings in shares of Alphabet by 16.1% during the fourth quarter. Northern Trust Corp now owns 57,098,042 shares of the information services provider’s stock valued at $10,873,751,000 after buying an additional 7,917,625 shares during the last quarter. Finally, GQG Partners LLC raised its holdings in shares of Alphabet by 181,679.1% during the fourth quarter. GQG Partners LLC now owns 7,225,721 shares of the information services provider’s stock valued at $1,376,066,000 after buying an additional 7,221,746 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Insiders Place Their Bets

In other Alphabet news, insider John Kent Walker sold 11,764 shares of Alphabet stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $166.84, for a total transaction of $1,962,705.76. Following the transaction, the insider now directly owns 49,037 shares in the company, valued at approximately $8,181,333.08. The trade was a 19.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $176.68, for a total transaction of $5,742,100.00. Following the transaction, the chief executive officer now owns 2,555,196 shares in the company, valued at approximately $451,452,029.28. The trade was a 1.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 228,070 shares of company stock worth $37,745,632. 12.99% of the stock is owned by insiders.

Alphabet Trading Down 3.6%

Alphabet stock opened at $167.73 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.77 and a current ratio of 1.77. The firm has a market cap of $2.04 trillion, a price-to-earnings ratio of 18.70, a price-to-earnings-growth ratio of 1.18 and a beta of 1.01. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $208.70. The firm’s 50 day moving average price is $166.31 and its two-hundred day moving average price is $176.39.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.79. The firm had revenue of $90.23 billion for the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The firm’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.89 earnings per share. On average, research analysts predict that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were given a $0.21 dividend. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date was Monday, June 9th. This represents a $0.84 annualized dividend and a yield of 0.50%. Alphabet’s payout ratio is 9.36%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on GOOG shares. The Goldman Sachs Group reaffirmed a “buy” rating and set a $220.00 price target on shares of Alphabet in a report on Monday, June 2nd. Scotiabank cut their price target on Alphabet from $232.00 to $200.00 and set a “sector outperform” rating on the stock in a report on Monday, April 21st. Tigress Financial reaffirmed a “strong-buy” rating on shares of Alphabet in a report on Friday, May 2nd. KeyCorp cut their price target on Alphabet from $202.00 to $185.00 and set an “overweight” rating on the stock in a report on Wednesday, April 9th. Finally, UBS Group cut their price target on Alphabet from $209.00 to $173.00 and set a “neutral” rating on the stock in a report on Friday, April 11th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, fourteen have given a buy rating and five have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $204.88.

Alphabet Company 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.