Alphabet Inc. (NASDAQ:GOOG) Position Reduced by Montis Financial LLC

Montis Financial LLC reduced its position in Alphabet Inc. (NASDAQ:GOOG) by 2.8% during the 1st quarter, HoldingsChannel.com reports. The fund owned 9,365 shares of the information services provider’s stock after selling 267 shares during the quarter. Montis Financial LLC’s holdings in Alphabet were worth $1,463,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Concentrum Wealth Management lifted its stake in Alphabet by 0.3% in the 4th 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 increased its holdings in shares of Alphabet by 10.6% in 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 during the last quarter. Kidder Stephen W lifted its position in shares of Alphabet by 1.6% in the fourth quarter. Kidder Stephen W now owns 3,608 shares of the information services provider’s stock worth $687,000 after buying an additional 58 shares in the last quarter. Hill Island Financial LLC lifted its position in shares of Alphabet by 0.8% in the fourth quarter. Hill Island Financial LLC now owns 7,776 shares of the information services provider’s stock worth $1,481,000 after buying an additional 59 shares in the last quarter. Finally, Providence Wealth Advisors LLC boosted its stake in Alphabet by 0.6% during the fourth quarter. Providence Wealth Advisors LLC now owns 10,102 shares of the information services provider’s stock valued at $1,992,000 after buying an additional 60 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insider Activity

In other Alphabet news, Director John L. Hennessy sold 600 shares of the stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total transaction of $105,000.00. Following the completion of the sale, the director directly owned 6,813 shares of the company’s stock, valued at approximately $1,192,275. This represents a 8.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $178.52, for a total transaction of $5,801,900.00. Following the sale, the chief executive officer directly owned 2,559,892 shares of the company’s stock, valued at $456,991,919.84. The trade was a 1.25% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 183,343 shares of company stock worth $31,296,140. 12.99% of the stock is currently owned by company insiders.

Alphabet Stock Performance

GOOG stock opened at $183.77 on Thursday. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $208.70. The business has a 50-day moving average price of $172.81 and a 200 day moving average price of $174.80. The company has a market capitalization of $2.23 trillion, a P/E ratio of 20.49, a PEG ratio of 1.29 and a beta of 1.01. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.77 and a quick ratio of 1.77.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, beating the consensus estimate of $2.02 by $0.79. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The business had revenue of $90.23 billion during the quarter, compared to analyst estimates of $89.30 billion. During the same quarter in the previous year, the business posted $1.89 EPS. The company’s quarterly revenue was up 12.0% compared to the same quarter last year. As a group, equities research analysts forecast that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.46%. The ex-dividend date of this dividend was Monday, June 9th. This is a boost from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s dividend payout ratio (DPR) is 9.36%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on GOOG. JPMorgan Chase & Co. upped their price objective on Alphabet from $195.00 to $200.00 and gave the stock an “overweight” rating in a report on Friday, July 11th. Cantor Fitzgerald restated a “neutral” rating and issued a $171.00 price target on shares of Alphabet in a research report on Friday, April 25th. The Goldman Sachs Group reiterated a “buy” rating and set a $220.00 price objective on shares of Alphabet in a research report on Monday, June 2nd. Roth Capital restated a “buy” rating on shares of Alphabet in a report on Wednesday, July 9th. Finally, BNP Paribas cut shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, June 26th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have issued a buy rating and five have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $208.40.

About Alphabet

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.