Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Delta Capital Management LLC

Delta Capital Management LLC cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 4.1% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 13,005 shares of the information services provider’s stock after selling 550 shares during the period. Delta Capital Management LLC’s holdings in Alphabet were worth $2,032,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. FMR LLC boosted its holdings in shares of Alphabet by 2.8% during the 4th quarter. FMR LLC now owns 117,991,725 shares of the information services provider’s stock worth $22,470,344,000 after purchasing an additional 3,189,592 shares during the last quarter. Geode Capital Management LLC boosted its stake 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 worth $19,894,651,000 after buying an additional 1,219,606 shares during the last quarter. Capital International Investors grew its holdings in Alphabet by 6.7% in the 4th quarter. Capital International Investors now owns 91,236,069 shares of the information services provider’s stock valued at $17,376,706,000 after buying an additional 5,758,244 shares in the last quarter. Northern Trust Corp increased its stake in shares of 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 acquiring an additional 7,917,625 shares during the last quarter. Finally, Capital Research Global Investors raised its holdings in shares of Alphabet by 0.8% during 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 acquiring an additional 294,556 shares during the period. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $168.71, for a total value of $5,483,075.00. Following the transaction, the chief executive officer now owns 2,587,696 shares in the company, valued at $436,570,192.16. The trade was a 1.24% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director John L. Hennessy sold 600 shares of the business’s stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $105,000.00. Following the completion of the transaction, the director now owns 6,813 shares in the company, valued at $1,192,275. This trade represents a 8.09% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 195,570 shares of company stock worth $32,003,532. Corporate insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on GOOG shares. UBS Group dropped their price objective on shares of Alphabet from $209.00 to $173.00 and set a “neutral” rating for the company in a report on Friday, April 11th. Citigroup reissued a “sell” rating on shares of Alphabet in a research note on Wednesday, April 23rd. Tigress Financial reaffirmed a “strong-buy” rating on shares of Alphabet in a research report on Friday, May 2nd. Scotiabank reduced their target price on Alphabet from $232.00 to $200.00 and set a “sector outperform” rating on the stock in a research report on Monday, April 21st. Finally, Rosenblatt Securities upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a report on Friday, April 25th. Three 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 given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $204.88.

Alphabet Trading Down 1.0%

Shares of NASDAQ:GOOG opened at $176.97 on Friday. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $208.70. The company’s 50 day moving average is $163.98 and its two-hundred day moving average is $176.27. The company has a market cap of $2.15 trillion, a PE ratio of 21.98, a P/E/G ratio of 1.34 and a beta of 1.01. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03.

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

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be given a dividend of $0.21 per share. The ex-dividend date is Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.47%. This is a boost from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s payout ratio is 9.36%.

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.