Gill Capital Partners LLC Decreases Stake in Alphabet Inc. (NASDAQ:GOOG)

Gill Capital Partners LLC decreased its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 3.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,965 shares of the information services provider’s stock after selling 300 shares during the quarter. Gill Capital Partners LLC’s holdings in Alphabet were worth $1,476,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Veracity Capital LLC raised its holdings in shares of Alphabet by 12.4% during the fourth quarter. Veracity Capital LLC now owns 10,597 shares of the information services provider’s stock worth $1,493,000 after purchasing an additional 1,173 shares during the last quarter. Independence Bank of Kentucky lifted its holdings in shares of Alphabet by 25.3% in the 4th quarter. Independence Bank of Kentucky now owns 6,093 shares of the information services provider’s stock valued at $859,000 after buying an additional 1,230 shares during the period. Park Avenue Securities LLC lifted its holdings in shares of Alphabet by 11.9% in the 1st quarter. Park Avenue Securities LLC now owns 109,878 shares of the information services provider’s stock valued at $16,730,000 after buying an additional 11,646 shares during the period. Strategic Blueprint LLC boosted its stake in shares of Alphabet by 36.7% in the fourth quarter. Strategic Blueprint LLC now owns 15,068 shares of the information services provider’s stock worth $2,123,000 after buying an additional 4,044 shares during the last quarter. Finally, Investment Partners LTD. grew its holdings in Alphabet by 5.8% during the fourth quarter. Investment Partners LTD. now owns 7,446 shares of the information services provider’s stock worth $1,049,000 after acquiring an additional 410 shares during the period. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Price Performance

Alphabet stock traded down $0.39 during midday trading on Friday, reaching $186.91. The company had a trading volume of 4,831,836 shares, compared to its average volume of 20,636,293. Alphabet Inc. has a 12-month low of $118.68 and a 12-month high of $193.31. The firm’s fifty day simple moving average is $178.83 and its 200-day simple moving average is $158.76. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.15. The company has a market capitalization of $2.31 trillion, a P/E ratio of 28.74, a P/E/G ratio of 1.45 and a beta of 1.05.

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 the consensus estimate of $1.51 by $0.38. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The business had revenue of $80.54 billion for the quarter, compared to the consensus estimate of $78.75 billion. During the same quarter last year, the business posted $1.17 earnings per share. The business’s quarterly revenue was up 15.4% compared to the same quarter last year. As a group, equities analysts anticipate that Alphabet Inc. will post 7.6 EPS for the current year.

Alphabet Announces Dividend

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

Wall Street Analyst Weigh In

Several research firms have commented on GOOG. Morgan Stanley restated an “overweight” rating and issued a $165.00 price objective on shares of Alphabet in a research report on Thursday, April 11th. Stifel Nicolaus raised their price target on shares of Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Rosenblatt Securities downgraded shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective for the company. in a research report on Friday, June 28th. TD Cowen increased their target price on shares of Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Oppenheimer lifted 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. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $174.38.

Insider Transactions at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $186.74, for a total value of $4,201,650.00. Following the completion of the sale, the chief executive officer now owns 2,227,385 shares in the company, valued at approximately $415,941,874.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $186.74, for a total transaction of $4,201,650.00. Following the transaction, the chief executive officer now owns 2,227,385 shares of the company’s stock, valued at $415,941,874.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Prabhakar Raghavan sold 3,262 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $183.99, for a total value of $600,175.38. Following the completion of the sale, the senior vice president now directly owns 9 shares of the company’s stock, valued at $1,655.91. The disclosure for this sale can be found here. Insiders sold 145,488 shares of company stock valued at $25,217,405 over the last 90 days. 12.99% of the stock is currently owned by corporate insiders.

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.