Outfitter Financial LLC Decreases Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Outfitter Financial LLC reduced its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 19.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,780 shares of the information services provider’s stock after selling 1,630 shares during the period. Outfitter Financial LLC’s holdings in Alphabet were worth $1,059,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of GOOG. FMR LLC increased its stake in Alphabet by 2.8% in the fourth quarter. FMR LLC now owns 117,991,725 shares of the information services provider’s stock valued at $22,470,344,000 after purchasing an additional 3,189,592 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Alphabet by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 104,777,092 shares of the information services provider’s stock valued at $19,894,651,000 after acquiring an additional 1,219,606 shares in the last quarter. Capital International Investors boosted its holdings in shares of Alphabet by 6.7% in the fourth quarter. Capital International Investors now owns 91,236,069 shares of the information services provider’s stock valued at $17,376,706,000 after acquiring an additional 5,758,244 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of Alphabet by 16.1% in 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 acquiring an additional 7,917,625 shares in the last quarter. Finally, Capital Research Global Investors boosted its holdings in shares of Alphabet by 0.8% in the fourth quarter. Capital Research Global Investors now owns 39,148,500 shares of the information services provider’s stock valued at $7,455,571,000 after acquiring an additional 294,556 shares in the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $184.38, for a total transaction of $5,992,350.00. Following the completion of the transaction, the chief executive officer owned 2,527,392 shares of the company’s stock, valued at approximately $466,000,536.96. This represents a 1.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kavitark Ram Shriram sold 10,500 shares of the company’s stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $1,837,500.00. Following the transaction, the director directly owned 261,966 shares of the company’s stock, valued at $45,844,050. This trade represents a 3.85% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 215,843 shares of company stock valued at $37,288,490. Insiders own 12.99% of the company’s stock.

Alphabet Trading Up 0.3%

Shares of NASDAQ:GOOG traded up $0.56 during trading on Friday, reaching $185.26. The stock had a trading volume of 5,568,442 shares, compared to its average volume of 21,486,400. The business has a fifty day moving average price of $173.39 and a 200-day moving average price of $174.75. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.03. The stock has a market cap of $2.25 trillion, a P/E ratio of 20.67, a PEG ratio of 1.28 and a beta of 1.01. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $208.70.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data 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 net margin of 30.86% and a return on equity of 34.54%. The business had revenue of $90.23 billion during the quarter, compared to analyst estimates of $89.30 billion. During the same quarter in the previous year, the business posted $1.89 earnings per share. The company’s revenue was up 12.0% on a year-over-year basis. As a group, analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 9th were given a dividend of $0.21 per share. 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 0.45%. Alphabet’s dividend payout ratio is 9.36%.

Analysts Set New Price Targets

GOOG has been the topic of several analyst reports. Roth Capital reaffirmed a “buy” rating on shares of Alphabet in a report on Wednesday, July 9th. Rosenblatt Securities raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a report on Friday, April 25th. BNP Paribas downgraded shares of Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, June 26th. UBS Group boosted their price objective on shares of Alphabet from $186.00 to $192.00 and gave the stock a “neutral” rating in a report on Wednesday. Finally, Oppenheimer reissued an “outperform” rating and set a $220.00 price objective (up previously from $200.00) on shares of Alphabet in a report on Wednesday, July 9th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have given a buy rating and five have issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $208.40.

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.