FourThought Financial Partners LLC Lowers Position in Alphabet Inc. (NASDAQ:GOOG)

FourThought Financial Partners LLC cut its holdings in Alphabet Inc. (NASDAQ:GOOG) by 0.6% in the first quarter, Holdings Channel reports. The fund owned 26,758 shares of the information services provider’s stock after selling 163 shares during the quarter. FourThought Financial Partners LLC’s holdings in Alphabet were worth $4,180,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Concentrum Wealth Management lifted its position in shares of Alphabet by 0.3% during the fourth quarter. Concentrum Wealth Management now owns 17,328 shares of the information services provider’s stock worth $3,300,000 after purchasing an additional 57 shares in the last quarter. JDM Financial Group LLC lifted its position in shares of Alphabet by 10.6% during the fourth quarter. JDM Financial Group LLC now owns 593 shares of the information services provider’s stock worth $113,000 after purchasing an additional 57 shares in the last quarter. Kidder Stephen W lifted its position in shares of Alphabet by 1.6% during the fourth quarter. Kidder Stephen W now owns 3,608 shares of the information services provider’s stock worth $687,000 after purchasing an additional 58 shares in the last quarter. Objectivity Squared LLC lifted its position in shares of Alphabet by 0.4% during the first quarter. Objectivity Squared LLC now owns 16,342 shares of the information services provider’s stock worth $2,605,000 after purchasing an additional 62 shares in the last quarter. Finally, Tranquility Partners LLC lifted its position in shares of Alphabet by 0.4% during the first quarter. Tranquility Partners LLC now owns 14,488 shares of the information services provider’s stock worth $2,263,000 after purchasing an additional 63 shares in the last quarter. Institutional investors own 27.26% of the company’s stock.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $178.52, for a total value of $5,801,900.00. Following the completion of the transaction, the chief executive officer owned 2,559,892 shares of the company’s stock, valued at $456,991,919.84. This trade represents a 1.25% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Kavitark Ram Shriram sold 18,566 shares of Alphabet stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the completion of the transaction, the director directly owned 243,400 shares of the company’s stock, valued at approximately $45,213,984. This trade represents a 7.09% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 249,409 shares of company stock valued at $43,523,710. Insiders own 12.99% of the company’s stock.

Analyst Upgrades and Downgrades

GOOG has been the topic of several recent research reports. Citigroup reaffirmed a “sell” rating on shares of Alphabet in a research note on Wednesday, April 23rd. Scotiabank raised their target price on shares of Alphabet from $200.00 to $240.00 and gave the company a “sector outperform” rating in a research note on Tuesday. Raymond James Financial restated an “outperform” rating and set a $210.00 target price (up from $185.00) on shares of Alphabet in a research report on Thursday. Cowen restated a “buy” rating on shares of Alphabet in a research report on Wednesday, July 9th. Finally, Rosenblatt Securities upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 25th. Three analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have assigned 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 a consensus target price of $215.19.

Alphabet Stock Performance

Shares of GOOG opened at $194.08 on Friday. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $208.70. The firm has a fifty day simple moving average of $176.86 and a 200 day simple moving average of $174.67. The stock has a market capitalization of $2.36 trillion, a price-to-earnings ratio of 20.67, a PEG ratio of 1.32 and a beta of 1.01. The company has a current ratio of 1.90, a quick ratio of 1.77 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates of $2.12 by $0.19. The business had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.67 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The firm’s revenue for the quarter was up 13.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.89 earnings per share. Research analysts forecast that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet’s dividend payout ratio (DPR) is presently 8.95%.

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.