Impact Partnership Wealth LLC Decreases Position in Alphabet Inc. (NASDAQ:GOOG)

Impact Partnership Wealth LLC decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 3.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,002 shares of the information services provider’s stock after selling 63 shares during the quarter. Impact Partnership Wealth LLC’s holdings in Alphabet were worth $313,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Principia Wealth Advisory LLC increased its position in Alphabet by 111.8% during the first quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider’s stock worth $26,000 after buying an additional 85 shares during the period. MorganRosel Wealth Management LLC acquired a new position in Alphabet during the first quarter worth approximately $26,000. LSV Asset Management acquired a new position in Alphabet during the fourth quarter worth approximately $27,000. Goodman Advisory Group LLC acquired a new position in Alphabet during the first quarter worth approximately $32,000. Finally, WealthTrak Capital Management LLC acquired a new position in Alphabet during the fourth quarter worth approximately $38,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on GOOG. Westpark Capital reissued a “buy” rating and issued a $210.00 target price on shares of Alphabet in a report on Friday, April 25th. Cowen reissued a “buy” rating on shares of Alphabet in a report on Wednesday, July 9th. Roth Capital reaffirmed a “buy” rating on shares of Alphabet in a report on Wednesday, July 9th. Lake Street Capital reaffirmed a “buy” rating on shares of Alphabet in a report on Wednesday, July 9th. Finally, Scotiabank dropped their price objective on Alphabet from $232.00 to $200.00 and set a “sector outperform” rating on the stock in a report on Monday, April 21st. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have given a buy rating and five have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $208.40.

Insiders Place Their Bets

In other news, Director John L. Hennessy sold 400 shares of the stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $181.98, for a total value of $72,792.00. Following the completion of the sale, the director owned 6,013 shares in the company, valued at approximately $1,094,245.74. This trade represents a 6.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kavitark Ram Shriram sold 9,000 shares of the stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $1,575,000.00. Following the completion of the sale, the director owned 255,400 shares of the company’s stock, valued at approximately $44,695,000. This trade represents a 3.40% decrease in their position. The disclosure for this sale can be found here. Insiders sold 215,843 shares of company stock worth $37,288,490 over the last three months. 12.99% of the stock is owned by insiders.

Alphabet Stock Performance

NASDAQ GOOG opened at $185.94 on Friday. The business’s 50-day moving average price is $174.02 and its 200 day moving average price is $174.61. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $208.70. The company has a market capitalization of $2.26 trillion, a PE ratio of 20.73, a price-to-earnings-growth ratio of 1.29 and a beta of 1.01. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.03.

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

Alphabet Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were paid a dividend of $0.21 per share. The ex-dividend date was Monday, June 9th. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 0.45%. Alphabet’s dividend payout ratio is currently 9.36%.

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.