Salomon & Ludwin LLC Lowers Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Salomon & Ludwin LLC lowered its stake in Alphabet Inc. (NASDAQ:GOOG) by 1.9% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,936 shares of the information services provider’s stock after selling 97 shares during the period. Salomon & Ludwin LLC’s holdings in Alphabet were worth $752,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bruce G. Allen Investments LLC bought a new stake in shares of Alphabet in the 4th quarter worth $26,000. Partnership Wealth Management LLC purchased a new stake in shares of Alphabet during the 4th quarter valued at about $26,000. Equitec Proprietary Markets LLC purchased a new position in shares of Alphabet during the fourth quarter valued at approximately $28,000. DiNuzzo Private Wealth Inc. bought a new position in Alphabet during the fourth quarter valued at approximately $32,000. Finally, Pacific Capital Wealth Advisors Inc. purchased a new stake in Alphabet in the fourth quarter worth approximately $34,000. Institutional investors own 27.26% of the company’s stock.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $186.74, for a total transaction of $4,201,650.00. Following the completion of the transaction, the chief executive officer now owns 2,227,385 shares in the company, valued at $415,941,874.90. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $186.74, for a total value of $4,201,650.00. Following the sale, the chief executive officer now directly owns 2,227,385 shares in the company, valued at $415,941,874.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Prabhakar Raghavan sold 3,262 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $183.99, for a total value of $600,175.38. Following the transaction, the senior vice president now owns 9 shares of the company’s stock, valued at approximately $1,655.91. The disclosure for this sale can be found here. In the last three months, insiders have sold 146,288 shares of company stock valued at $25,345,053. Corporate insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

GOOG has been the topic of several research analyst reports. Morgan Stanley reissued an “overweight” rating and set a $165.00 price target on shares of Alphabet in a report on Thursday, April 11th. Oppenheimer boosted their price target on Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research note on Monday, April 8th. Stifel Nicolaus increased their price objective on shares of Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Finally, Rosenblatt Securities lowered shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price for the company. in a research report on Friday, June 28th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $167.86.

Alphabet Price Performance

NASDAQ:GOOG traded down $0.04 during trading hours on Tuesday, hitting $190.44. 10,048,511 shares of the stock traded hands, compared to its average volume of 20,854,723. The company has a market cap of $2.35 trillion, a price-to-earnings ratio of 29.31, a price-to-earnings-growth ratio of 1.44 and a beta of 1.05. Alphabet Inc. has a 1 year low of $115.83 and a 1 year high of $192.86. The stock has a 50 day moving average price of $177.40 and a 200 day moving average price of $157.98. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05.

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

Alphabet Dividend Announcement

The firm also recently announced a — dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 10th were given a dividend of $0.20 per share. The ex-dividend date was Monday, June 10th. Alphabet’s dividend payout ratio is currently 12.27%.

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.