Alphabet Inc. (NASDAQ:GOOG) Shares Sold by McLean Asset Management Corp

McLean Asset Management Corp lowered its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 5.6% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,621 shares of the information services provider’s stock after selling 332 shares during the quarter. McLean Asset Management Corp’s holdings in Alphabet were worth $824,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of GOOG. FMR LLC grew its stake in shares of Alphabet by 2.8% in the 4th quarter. FMR LLC now owns 117,991,725 shares of the information services provider’s stock valued at $22,470,344,000 after buying an additional 3,189,592 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Alphabet by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 104,777,092 shares of the information services provider’s stock valued at $19,894,651,000 after acquiring an additional 1,219,606 shares during the period. Capital International Investors increased its stake in shares of Alphabet by 6.7% in the fourth quarter. Capital International Investors now owns 91,236,069 shares of the information services provider’s stock worth $17,376,706,000 after purchasing an additional 5,758,244 shares during the period. Northern Trust Corp increased its position in Alphabet by 16.1% in the 4th quarter. Northern Trust Corp now owns 57,098,042 shares of the information services provider’s stock worth $10,873,751,000 after buying an additional 7,917,625 shares during the period. Finally, Capital Research Global Investors increased its position in Alphabet by 0.8% in the 4th quarter. Capital Research Global Investors now owns 39,148,500 shares of the information services provider’s stock worth $7,455,571,000 after buying an additional 294,556 shares during the period. Institutional investors own 27.26% of the company’s stock.

Insider Transactions at Alphabet

In other news, Director John L. Hennessy sold 200 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $165.53, for a total value of $33,106.00. Following the completion of the sale, the director now directly owns 7,813 shares in the company, valued at approximately $1,293,285.89. The trade was a 2.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total transaction of $5,153,200.00. Following the completion of the sale, the chief executive officer now owns 2,717,696 shares of the company’s stock, valued at approximately $430,917,877.76. The trade was a 1.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 163,270 shares of company stock worth $26,553,563. 12.99% of the stock is currently owned by insiders.

Alphabet Stock Performance

NASDAQ:GOOG opened at $170.37 on Tuesday. The company has a market capitalization of $2.07 trillion, a price-to-earnings ratio of 21.16, a PEG ratio of 1.34 and a beta of 1.01. The business has a 50 day moving average of $160.95 and a 200 day moving average of $176.24. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $208.70.

Alphabet (NASDAQ:GOOG) last announced 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 analyst estimates of $89.30 billion. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. The business’s quarterly revenue was up 12.0% on a year-over-year basis. During the same period in the previous year, the business posted $1.89 EPS. On average, sell-side analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.49%. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date is Monday, June 9th. Alphabet’s payout ratio is presently 9.36%.

Analysts Set New Price Targets

Several research analysts recently commented on the company. 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. Tigress Financial reaffirmed a “strong-buy” rating on shares of Alphabet in a report on Friday, May 2nd. UBS Group lowered their price objective on Alphabet from $209.00 to $173.00 and set a “neutral” rating for the company in a research report on Friday, April 11th. Susquehanna reissued a “positive” rating on shares of Alphabet in a report on Friday, May 2nd. Finally, Rosenblatt Securities upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 25th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have assigned a buy rating and five have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $204.88.

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.