Alphabet Inc. $GOOG Shares Sold by Conscious Wealth Investments LLC

Conscious Wealth Investments LLC lowered its position in Alphabet Inc. (NASDAQ:GOOGFree Report) by 10.5% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 13,552 shares of the information services provider’s stock after selling 1,595 shares during the period. Alphabet accounts for approximately 2.3% of Conscious Wealth Investments LLC’s portfolio, making the stock its 24th biggest holding. Conscious Wealth Investments LLC’s holdings in Alphabet were worth $3,888,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Auto Owners Insurance Co lifted its stake in Alphabet by 38,409.2% in the 4th quarter. Auto Owners Insurance Co now owns 179,836,276 shares of the information services provider’s stock worth $5,643,262,000 after purchasing an additional 179,369,280 shares in the last quarter. J. Stern & Co. LLP grew its position in shares of Alphabet by 28,482.8% in the fourth quarter. J. Stern & Co. LLP now owns 112,091,870 shares of the information services provider’s stock valued at $35,174,429,000 after purchasing an additional 111,699,704 shares in the last quarter. Norges Bank purchased a new stake in shares of Alphabet in the fourth quarter valued at approximately $18,093,665,000. Cardano Risk Management B.V. increased its holdings in shares of Alphabet by 850.3% in the fourth quarter. Cardano Risk Management B.V. now owns 17,692,600 shares of the information services provider’s stock valued at $5,551,938,000 after purchasing an additional 15,830,754 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Alphabet by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 421,013,782 shares of the information services provider’s stock valued at $132,114,125,000 after purchasing an additional 8,128,234 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Price Performance

NASDAQ:GOOG opened at $356.18 on Friday. Alphabet Inc. has a 52 week low of $173.88 and a 52 week high of $404.47. The stock’s fifty day moving average is $368.31 and its two-hundred day moving average is $333.32. The company has a market capitalization of $4.32 trillion, a P/E ratio of 27.17, a P/E/G ratio of 1.52 and a beta of 1.23. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.16.

Alphabet (NASDAQ:GOOGGet Free Report) last released its quarterly earnings results on Thursday, April 30th. The information services provider reported $5.11 earnings per share for the quarter, topping analysts’ consensus estimates of $2.68 by $2.43. The business had revenue of $109.90 billion during the quarter, compared to analysts’ expectations of $106.96 billion. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.The company’s revenue was up 21.8% compared to the same quarter last year. During the same period in the prior year, the business posted $2.81 EPS. Equities analysts expect that Alphabet Inc. will post 14.32 EPS for the current year.

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 8th were given a $0.22 dividend. The ex-dividend date of this dividend was Monday, June 8th. This represents a $0.88 annualized dividend and a yield of 0.2%. This is an increase from Alphabet’s previous quarterly dividend of $0.21. Alphabet’s dividend payout ratio is presently 6.71%.

Alphabet News Roundup

Here are the key news stories impacting Alphabet this week:

Wall Street Analysts Forecast Growth

GOOG has been the topic of a number of recent research reports. KeyCorp reissued an “overweight” rating on shares of Alphabet in a research note on Wednesday, May 20th. Wells Fargo & Company set a $416.00 price target on Alphabet in a report on Thursday. TD Cowen boosted their price target on shares of Alphabet from $450.00 to $475.00 and gave the company a “buy” rating in a research report on Tuesday, June 9th. Needham & Company LLC set a $400.00 price objective on shares of Alphabet and gave the company a “buy” rating in a report on Friday, March 13th. Finally, Scotiabank restated an “outperform” rating and set a $450.00 price objective (up from $400.00) on shares of Alphabet in a research report on Thursday, April 30th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Alphabet has a consensus rating of “Buy” and a consensus target price of $376.19.

View Our Latest Report on Alphabet

Insider Transactions at Alphabet

In other news, CAO Marsida Saraci sold 449 shares of the business’s stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $341.72, for a total transaction of $153,432.28. Following the completion of the transaction, the chief accounting officer directly owned 27,348 shares of the company’s stock, valued at approximately $9,345,358.56. The trade was a 1.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider John Kent Walker sold 8,998 shares of Alphabet stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $349.29, for a total transaction of $3,142,911.42. Following the completion of the transaction, the insider owned 75,290 shares of the company’s stock, valued at $26,298,044.10. This represents a 10.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 160,465 shares of company stock valued at $8,020,511. 12.99% of the stock is owned by corporate insiders.

About Alphabet

(Free Report)

Alphabet Inc (NASDAQ: GOOG) is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as “Other Bets.” Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company’s history.

Alphabet’s core business centers on internet search and advertising, with Google Search and the company’s ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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