Alphabet Inc. (NASDAQ:GOOG) Stake Reduced by WD Rutherford LLC

WD Rutherford LLC decreased its holdings in Alphabet Inc. (NASDAQ:GOOG) by 1.5% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,707 shares of the information services provider’s stock after selling 85 shares during the quarter. WD Rutherford LLC’s holdings in Alphabet were worth $869,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Bruce G. Allen Investments LLC bought a new position in shares of Alphabet in the fourth quarter worth $26,000. Partnership Wealth Management LLC bought a new position in shares of Alphabet in the fourth quarter worth $26,000. Equitec Proprietary Markets LLC bought a new position in shares of Alphabet in the fourth quarter worth $28,000. DiNuzzo Private Wealth Inc. bought a new position in shares of Alphabet in the fourth quarter worth $32,000. Finally, Pacific Capital Wealth Advisors Inc. bought a new position in shares of Alphabet in the fourth quarter worth $34,000. Institutional investors own 27.26% of the company’s stock.

Alphabet Stock Down 1.8 %

Shares of GOOG traded down $3.44 during midday trading on Friday, reaching $183.42. 23,032,362 shares of the stock were exchanged, compared to its average volume of 17,822,788. Alphabet Inc. has a 12-month low of $115.83 and a 12-month high of $187.50. The firm has a 50 day simple moving average of $174.40 and a 200-day simple moving average of $155.53. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. The company has a market cap of $2.27 trillion, a price-to-earnings ratio of 28.13, a P/E/G ratio of 1.40 and a beta of 1.01.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.51 by $0.38. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The company had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $78.75 billion. During the same period last year, the business earned $1.17 EPS. The business’s quarterly revenue was up 15.4% on a year-over-year basis. Research analysts forecast that Alphabet Inc. will post 7.6 EPS for the current year.

Alphabet Announces Dividend

The company also recently declared a — dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 10th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, June 10th. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Stifel Nicolaus raised their target price on Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Oppenheimer raised their target price on Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research note on Monday, April 8th. Morgan Stanley reaffirmed an “overweight” rating and set a $165.00 target price on shares of Alphabet in a research note on Thursday, April 11th. Finally, Rosenblatt Securities cut Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price for the company. in a research note on Friday. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $167.86.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $155.67, for a total transaction of $3,502,575.00. Following the completion of the sale, the chief executive officer now directly owns 2,325,513 shares of the company’s stock, valued at approximately $362,012,608.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $155.67, for a total transaction of $3,502,575.00. Following the transaction, the chief executive officer now owns 2,325,513 shares of the company’s stock, valued at approximately $362,012,608.71. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Prabhakar Raghavan sold 3,258 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $155.97, for a total value of $508,150.26. Following the transaction, the senior vice president now directly owns 144,685 shares in the company, valued at approximately $22,566,519.45. The disclosure for this sale can be found here. Insiders sold 146,284 shares of company stock valued at $24,534,393 in the last three months. Corporate insiders own 12.99% of the company’s stock.

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.