Regent Peak Wealth Advisors LLC Decreases Holdings in Alphabet Inc. (NASDAQ:GOOG)

Regent Peak Wealth Advisors LLC trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,536 shares of the information services provider’s stock after selling 70 shares during the quarter. Alphabet accounts for approximately 0.6% of Regent Peak Wealth Advisors LLC’s holdings, making the stock its 25th biggest holding. Regent Peak Wealth Advisors LLC’s holdings in Alphabet were worth $2,740,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. TB Alternative Assets Ltd. raised its position in shares of Alphabet by 103.3% during the 1st quarter. TB Alternative Assets Ltd. now owns 195,965 shares of the information services provider’s stock valued at $30,616,000 after buying an additional 99,578 shares in the last quarter. Principia Wealth Advisory LLC raised its position in Alphabet by 111.8% in the 1st quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider’s stock worth $26,000 after purchasing an additional 85 shares during the period. Perkins Coie Trust Co raised its position in Alphabet by 7.5% in the 1st quarter. Perkins Coie Trust Co now owns 5,143 shares of the information services provider’s stock worth $803,000 after purchasing an additional 357 shares during the period. Princeton Global Asset Management LLC raised its position in Alphabet by 2.1% in the 1st quarter. Princeton Global Asset Management LLC now owns 35,274 shares of the information services provider’s stock worth $5,511,000 after purchasing an additional 710 shares during the period. Finally, Intergy Private Wealth LLC raised its position in Alphabet by 5.0% in the 1st quarter. Intergy Private Wealth LLC now owns 4,210 shares of the information services provider’s stock worth $658,000 after purchasing an additional 201 shares during the period. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider John Kent Walker sold 11,764 shares of the stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $166.84, for a total transaction of $1,962,705.76. Following the completion of the sale, the insider now owns 49,037 shares of the company’s stock, valued at $8,181,333.08. This represents a 19.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $158.56, for a total transaction of $5,153,200.00. Following the sale, the chief executive officer now directly owns 2,717,696 shares of the company’s stock, valued at $430,917,877.76. The trade was a 1.18% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 195,770 shares of company stock worth $32,036,638. Corporate insiders own 12.99% of the company’s stock.

Alphabet Price Performance

NASDAQ GOOG opened at $174.92 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. The firm’s 50 day moving average price is $161.88 and its 200-day moving average price is $176.05. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $208.70. The company has a market cap of $2.12 trillion, a PE ratio of 21.73, a P/E/G ratio of 1.34 and a beta of 1.01.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.02 by $0.79. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. The firm had revenue of $90.23 billion for the quarter, compared to the consensus estimate of $89.30 billion. During the same period last year, the firm earned $1.89 earnings per share. The company’s quarterly revenue was up 12.0% on a year-over-year basis. Sell-side analysts forecast that Alphabet Inc. will post 8.89 EPS 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 paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, June 9th. This is an increase from Alphabet’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.48%. Alphabet’s dividend payout ratio (DPR) is currently 9.36%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. JPMorgan Chase & Co. increased their price objective on shares of Alphabet from $180.00 to $195.00 and gave the stock an “overweight” rating in a research report on Friday, April 25th. KeyCorp reduced their price objective on shares of Alphabet from $202.00 to $185.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 9th. Cantor Fitzgerald reissued a “neutral” rating and issued a $171.00 price objective on shares of Alphabet in a research report on Friday, April 25th. Needham & Company LLC lowered shares of Alphabet from a “buy” rating to a “cautious” rating in a research report on Friday, May 2nd. Finally, Rosenblatt Securities raised shares of 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 assigned a hold rating, fourteen have assigned a buy rating and five have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $204.88.

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.