Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Allen Mooney & Barnes Investment Advisors LLC

Allen Mooney & Barnes Investment Advisors LLC trimmed its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 7.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,235 shares of the information services provider’s stock after selling 249 shares during the quarter. Allen Mooney & Barnes Investment Advisors LLC’s holdings in Alphabet were worth $505,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Principia Wealth Advisory LLC lifted its position in shares of Alphabet by 111.8% during the 1st quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider’s stock worth $26,000 after purchasing an additional 85 shares during the last quarter. LSV Asset Management acquired a new stake in Alphabet in the fourth quarter valued at $27,000. WealthTrak Capital Management LLC acquired a new stake in Alphabet in the fourth quarter valued at $38,000. Mountain Hill Investment Partners Corp. purchased a new stake in Alphabet during the 4th quarter worth about $39,000. Finally, Noble Wealth Management PBC acquired a new position in shares of Alphabet during the 4th quarter worth about $43,000. 27.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Needham & Company LLC lowered Alphabet from a “buy” rating to a “cautious” rating in a research report on Friday, May 2nd. JPMorgan Chase & Co. increased their price target on shares of Alphabet from $180.00 to $195.00 and gave the company an “overweight” rating in a research note on Friday, April 25th. Westpark Capital restated a “buy” rating and set a $210.00 price objective on shares of Alphabet in a research report on Friday, April 25th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $171.00 target price on shares of Alphabet in a research report on Friday, April 25th. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $220.00 price target on shares of Alphabet in a research note on Monday, June 2nd. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have issued a buy rating and five have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $204.88.

Alphabet Stock Down 0.7%

GOOG opened at $178.79 on Thursday. The business has a 50 day moving average price of $163.42 and a two-hundred day moving average price of $176.21. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $208.70. The company has a market cap of $2.17 trillion, a PE ratio of 22.21, a P/E/G ratio of 1.34 and a beta of 1.01. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.79. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The firm had revenue of $90.23 billion during the quarter, compared to the consensus estimate of $89.30 billion. During the same period last year, the company earned $1.89 earnings per share. The company’s revenue for the quarter was up 12.0% on a year-over-year basis. As a group, research analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Increases Dividend

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

Insider Transactions at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $168.71, for a total transaction of $5,483,075.00. Following the completion of the transaction, the chief executive officer now directly owns 2,587,696 shares of the company’s stock, valued at $436,570,192.16. This represents a 1.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider John Kent Walker sold 11,764 shares of Alphabet stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $166.84, for a total value of $1,962,705.76. Following the completion of the sale, the insider now directly owns 49,037 shares in the company, valued at $8,181,333.08. This represents a 19.35% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 195,570 shares of company stock worth $32,003,532. Company insiders own 12.99% of the company’s stock.

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.