Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Foundations Investment Advisors LLC

Foundations Investment Advisors LLC trimmed its holdings in Alphabet Inc. (NASDAQ:GOOG) by 0.4% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,927 shares of the information services provider’s stock after selling 83 shares during the quarter. Foundations Investment Advisors LLC’s holdings in Alphabet were worth $3,426,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Brighton Jones LLC boosted its holdings in shares of Alphabet by 5.6% in the fourth quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider’s stock valued at $22,901,000 after acquiring an additional 6,410 shares during the period. Bank Pictet & Cie Europe AG boosted its holdings in shares of Alphabet by 4.3% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 506,535 shares of the information services provider’s stock valued at $96,465,000 after acquiring an additional 20,855 shares during the period. Partners in Financial Planning acquired a new stake in shares of Alphabet in the fourth quarter valued at approximately $491,000. Hazlett Burt & Watson Inc. boosted its holdings in shares of Alphabet by 11.2% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 8,401 shares of the information services provider’s stock valued at $1,598,000 after acquiring an additional 846 shares during the period. Finally, FSB Premier Wealth Management Inc. boosted its holdings in shares of Alphabet by 4.6% in the fourth quarter. FSB Premier Wealth Management Inc. now owns 16,715 shares of the information services provider’s stock valued at $3,183,000 after acquiring an additional 734 shares during the period. 27.26% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently commented on GOOG. Tigress Financial restated a “strong-buy” rating on shares of Alphabet in a research note on Friday, May 2nd. Wells Fargo & Company restated an “equal weight” rating on shares of Alphabet in a research note on Wednesday, July 9th. Westpark Capital restated a “buy” rating and set a $210.00 price target on shares of Alphabet in a research note on Friday, April 25th. Citizens Jmp upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Thursday, June 26th. Finally, Piper Sandler restated a “neutral” rating on shares of Alphabet in a research note on Wednesday, July 9th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have given a buy rating and five have assigned a strong buy rating to the company’s stock. According to MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and a consensus target price of $215.19.

Insiders Place Their Bets

In other news, Director Kavitark Ram Shriram sold 18,566 shares of the firm’s stock in a transaction on Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $3,448,820.16. Following the completion of the transaction, the director owned 243,400 shares in the company, valued at $45,213,984. This trade represents a 7.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total value of $5,801,900.00. Following the sale, the chief executive officer owned 2,559,892 shares of the company’s stock, valued at approximately $456,991,919.84. This represents a 1.25% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 249,409 shares of company stock valued at $43,523,710. Company insiders own 12.99% of the company’s stock.

Alphabet Trading Down 0.3%

Shares of GOOG stock opened at $193.42 on Tuesday. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $208.70. The stock has a market cap of $2.35 trillion, a P/E ratio of 20.60, a P/E/G ratio of 1.31 and a beta of 1.01. The business has a fifty day simple moving average of $177.37 and a 200-day simple moving average of $174.38. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $2.12 by $0.19. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. The business had revenue of $96.43 billion during the quarter, compared to analysts’ expectations of $93.67 billion. During the same quarter last year, the business posted $1.89 earnings per share. The business’s revenue for the quarter was up 13.8% on a year-over-year basis. On average, analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently declared 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 is Monday, September 8th. Alphabet’s dividend payout ratio is currently 8.95%.

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.