DDD Partners LLC Lowers Stake in Alphabet Inc. (NASDAQ:GOOG)

DDD Partners LLC reduced its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 10.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 105,527 shares of the information services provider’s stock after selling 11,673 shares during the quarter. Alphabet accounts for approximately 2.0% of DDD Partners LLC’s investment portfolio, making the stock its 24th biggest holding. DDD Partners LLC’s holdings in Alphabet were worth $16,487,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Principia Wealth Advisory LLC raised 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. MorganRosel Wealth Management LLC acquired a new position in shares of Alphabet during the 1st quarter worth about $26,000. LSV Asset Management acquired a new position in shares of Alphabet during the 4th quarter worth about $27,000. Goodman Advisory Group LLC acquired a new position in shares of Alphabet during the 1st quarter worth about $32,000. Finally, WealthTrak Capital Management LLC acquired a new position in shares of Alphabet during the 4th quarter worth about $38,000. 27.26% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Performance

NASDAQ:GOOG opened at $183.10 on Wednesday. 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 market capitalization of $2.22 trillion, a P/E ratio of 20.41, a PEG ratio of 1.28 and a beta of 1.01. The company has a 50 day moving average price of $172.19 and a 200 day moving average price of $174.74. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $208.70.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping analysts’ consensus estimates of $2.02 by $0.79. The firm had revenue of $90.23 billion during the quarter, compared to analysts’ expectations of $89.30 billion. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The firm’s quarterly revenue was up 12.0% on a year-over-year basis. During the same quarter last year, the company posted $1.89 EPS. Equities research analysts forecast that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Increases Dividend

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

Insider Buying and Selling at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of the firm’s stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $1,837,500.00. Following the completion of the transaction, the director owned 261,966 shares of the company’s stock, valued at $45,844,050. This trade represents a 3.85% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Sundar Pichai sold 32,500 shares of the firm’s 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 completion of the transaction, the chief executive officer directly owned 2,559,892 shares of the company’s stock, valued at $456,991,919.84. This represents a 1.25% decrease in their position. The disclosure for this sale can be found here. Insiders sold 182,943 shares of company stock valued at $31,223,348 in the last 90 days. Company insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Wells Fargo & Company restated an “equal weight” rating on shares of Alphabet in a research report on Wednesday, July 9th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $171.00 price objective on shares of Alphabet in a report on Friday, April 25th. Needham & Company LLC downgraded shares of Alphabet from a “buy” rating to a “cautious” rating in a report on Friday, May 2nd. BNP Paribas downgraded shares of Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, June 26th. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $220.00 price objective on shares of Alphabet in a report on Monday, June 2nd. Three analysts have rated the stock with a sell rating, five have issued a hold rating, eighteen have issued a buy rating and six have issued a strong buy rating to the company’s stock. According to MarketBeat, Alphabet has an average rating of “Moderate Buy” and an average price target of $207.13.

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.