Beverly Hills Private Wealth LLC Trims Holdings in Alphabet Inc. (NASDAQ:GOOG)

Beverly Hills Private Wealth LLC decreased its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 3.4% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 32,270 shares of the information services provider’s stock after selling 1,139 shares during the period. Alphabet accounts for 1.0% of Beverly Hills Private Wealth LLC’s investment portfolio, making the stock its 19th largest position. Beverly Hills Private Wealth LLC’s holdings in Alphabet were worth $5,042,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in GOOG. Hutchinson Capital Management CA boosted its position in shares of Alphabet by 1.5% in the fourth quarter. Hutchinson Capital Management CA now owns 3,555 shares of the information services provider’s stock valued at $677,000 after acquiring an additional 54 shares during the period. M. Kulyk & Associates LLC lifted its stake in Alphabet by 0.9% in the 4th quarter. M. Kulyk & Associates LLC now owns 6,445 shares of the information services provider’s stock worth $1,227,000 after purchasing an additional 56 shares in the last quarter. Retirement Planning Co of New England Inc. boosted its holdings in Alphabet by 0.4% in the 4th quarter. Retirement Planning Co of New England Inc. now owns 15,977 shares of the information services provider’s stock valued at $3,043,000 after purchasing an additional 56 shares during the period. Concentrum Wealth Management grew its position in shares of Alphabet by 0.3% during the 4th quarter. Concentrum Wealth Management now owns 17,328 shares of the information services provider’s stock valued at $3,300,000 after purchasing an additional 57 shares in the last quarter. Finally, JDM Financial Group LLC grew its position in shares of Alphabet by 10.6% during the 4th quarter. JDM Financial Group LLC now owns 593 shares of the information services provider’s stock valued at $113,000 after purchasing an additional 57 shares in the last quarter. Institutional investors own 27.26% of the company’s stock.

Insider Activity

In related news, Director John L. Hennessy sold 600 shares of the firm’s stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $105,000.00. Following the sale, the director directly owned 6,813 shares of the company’s stock, valued at $1,192,275. This trade represents a 8.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kavitark Ram Shriram sold 10,500 shares of Alphabet stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total transaction of $1,837,500.00. Following the completion of the sale, the director owned 261,966 shares in the company, valued at approximately $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 ninety days, insiders sold 215,643 shares of company stock valued at $36,330,928. Insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

Shares of GOOG stock opened at $177.56 on Tuesday. The company has a market capitalization of $2.15 trillion, a P/E ratio of 19.79, a PEG ratio of 1.27 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. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.77 and a current ratio of 1.77. The stock has a 50 day moving average price of $170.28 and a two-hundred day moving average price of $175.29.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping the consensus estimate of $2.02 by $0.79. The company had revenue of $90.23 billion for the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The firm’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.89 earnings per share. Analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.47%. This is an increase from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date was Monday, June 9th. Alphabet’s dividend payout ratio is 9.36%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on GOOG. Needham & Company LLC lowered Alphabet from a “buy” rating to a “cautious” rating in a research note on Friday, May 2nd. Oppenheimer lifted their target price on shares of Alphabet from $185.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, April 25th. Citigroup reissued a “sell” rating on shares of Alphabet in a report on Wednesday, April 23rd. Citizens Jmp raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a report on Thursday, June 26th. Finally, BNP Paribas lowered shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, June 26th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have given a buy rating and six have issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $206.38.

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.