Geometric Wealth Advisors Trims Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Geometric Wealth Advisors trimmed its stake in Alphabet Inc. (NASDAQ:GOOGFree Report) by 29.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,403 shares of the information services provider’s stock after selling 1,809 shares during the period. Geometric Wealth Advisors’ holdings in Alphabet were worth $688,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Principia Wealth Advisory LLC raised its position in Alphabet by 111.8% in the 1st quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 85 shares during the last quarter. MorganRosel Wealth Management LLC acquired a new position in Alphabet in the first quarter valued at $26,000. LSV Asset Management purchased a new stake in shares of Alphabet in the fourth quarter valued at about $27,000. Goodman Advisory Group LLC acquired a new stake in shares of Alphabet during the first quarter worth about $32,000. Finally, Greykasell Wealth Strategies Inc. acquired a new stake in shares of Alphabet during the first quarter worth about $32,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Stock Performance

GOOG opened at $196.92 on Thursday. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $208.70. The stock has a market cap of $2.38 trillion, a P/E ratio of 20.97, a P/E/G ratio of 1.30 and a beta of 1.02. The stock’s 50 day simple moving average is $180.79 and its 200 day simple moving average is $174.68. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90.

Alphabet (NASDAQ:GOOGGet Free Report) last posted its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.19. The company had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.67 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. Alphabet’s revenue was up 13.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.89 earnings per share. As a group, equities analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be given a dividend of $0.21 per share. The ex-dividend date is Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.4%. Alphabet’s payout ratio is presently 8.95%.

Analysts Set New Price Targets

GOOG has been the topic of several recent research reports. Susquehanna restated a “positive” rating on shares of Alphabet in a research report on Friday, May 2nd. Barclays reissued a “buy” rating on shares of Alphabet in a report on Wednesday, July 9th. KeyCorp decreased their price target on Alphabet from $202.00 to $185.00 and set an “overweight” rating for the company in a report on Wednesday, April 9th. Scotiabank lifted their price objective on shares of Alphabet from $200.00 to $240.00 and gave the company a “sector outperform” rating in a research report on Tuesday, July 22nd. Finally, Tigress Financial restated a “strong-buy” rating on shares of Alphabet in a research report on Friday, May 2nd. Three research 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 data from MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and an average price target of $215.19.

View Our Latest Report on GOOG

Insiders Place Their Bets

In other news, insider John Kent Walker sold 23,820 shares of the stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $194.70, for a total value of $4,637,754.00. Following the sale, the insider directly owned 42,999 shares in the company, valued at $8,371,905.30. This represents a 35.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kavitark Ram Shriram sold 18,566 shares of Alphabet stock in a transaction that occurred 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 transaction, the director owned 243,400 shares of the company’s stock, valued at $45,213,984. This represents a 7.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 273,219 shares of company stock worth $49,474,273. Insiders own 12.99% of the company’s stock.

About Alphabet

(Free Report)

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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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