Sendero Wealth Management LLC Cuts Stake in Alphabet Inc. (NASDAQ:GOOG)

Sendero Wealth Management LLC lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 21.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 20,784 shares of the information services provider’s stock after selling 5,687 shares during the period. Sendero Wealth Management LLC’s holdings in Alphabet were worth $3,247,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of GOOG. ARQ Wealth Advisors LLC increased its position in shares of Alphabet by 39.3% during the fourth quarter. ARQ Wealth Advisors LLC now owns 4,964 shares of the information services provider’s stock worth $945,000 after purchasing an additional 1,400 shares in the last quarter. GPS Wealth Strategies Group LLC boosted its stake in Alphabet by 6.8% during the 4th quarter. GPS Wealth Strategies Group LLC now owns 16,248 shares of the information services provider’s stock worth $3,094,000 after purchasing an additional 1,041 shares during the last quarter. Harvest Investment Services LLC boosted its stake in Alphabet by 3.3% during the 4th quarter. Harvest Investment Services LLC now owns 4,329 shares of the information services provider’s stock worth $824,000 after purchasing an additional 138 shares during the last quarter. North Forty Two & Co. purchased a new stake in shares of Alphabet during the fourth quarter worth $281,000. Finally, jvl associates llc raised its position in shares of Alphabet by 3.5% in the first quarter. jvl associates llc now owns 10,055 shares of the information services provider’s stock valued at $1,571,000 after buying an additional 343 shares during the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on GOOG shares. Cantor Fitzgerald restated a “neutral” rating and set a $171.00 price target on shares of Alphabet in a research report on Friday, April 25th. Morgan Stanley restated an “overweight” rating on shares of Alphabet in a report on Wednesday, February 5th. Rosenblatt Securities raised Alphabet from a “hold” rating to a “strong-buy” rating in a report on Friday, April 25th. Tigress Financial reissued a “strong-buy” rating on shares of Alphabet in a research note on Friday, May 2nd. Finally, Needham & Company LLC downgraded Alphabet from a “buy” rating to a “cautious” rating in a research note on Friday, May 2nd. Three investment analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have assigned a buy rating and five have given a strong buy rating to the company. Based on data from MarketBeat, Alphabet has an average rating of “Moderate Buy” and a consensus price target of $204.88.

Insiders Place Their Bets

In related news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $158.56, for a total value of $5,153,200.00. Following the transaction, the chief executive officer now directly owns 2,717,696 shares of the company’s stock, valued at $430,917,877.76. This trade represents a 1.18% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider John Kent Walker sold 11,764 shares of Alphabet stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $166.84, for a total value of $1,962,705.76. Following the sale, the insider now owns 49,037 shares in the company, valued at $8,181,333.08. This trade represents a 19.35% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 163,270 shares of company stock valued at $26,553,563. 12.99% of the stock is owned by corporate insiders.

Alphabet Stock Performance

NASDAQ:GOOG opened at $167.71 on Wednesday. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $208.70. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The firm has a market capitalization of $2.04 trillion, a PE ratio of 20.83, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01. The business’s fifty day moving average price is $161.02 and its 200 day moving average price is $176.18.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, beating analysts’ consensus estimates of $2.02 by $0.79. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The business had revenue of $90.23 billion for the quarter, compared to the consensus estimate of $89.30 billion. The business’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.89 EPS. On average, sell-side analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be paid a $0.21 dividend. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 0.50%. The ex-dividend date is Monday, June 9th. Alphabet’s dividend payout ratio is currently 9.36%.

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.