SeaBridge Investment Advisors LLC Has $5.74 Million Stake in Alphabet Inc. (NASDAQ:GOOG)

SeaBridge Investment Advisors LLC trimmed its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 9.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 36,720 shares of the information services provider’s stock after selling 3,656 shares during the period. Alphabet makes up about 1.2% of SeaBridge Investment Advisors LLC’s investment portfolio, making the stock its 19th biggest position. SeaBridge Investment Advisors LLC’s holdings in Alphabet were worth $5,737,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of GOOG. Brighton Jones LLC raised its stake in shares of Alphabet by 5.6% during the fourth quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider’s stock worth $22,901,000 after buying an additional 6,410 shares during the last quarter. Bank Pictet & Cie Europe AG increased its stake in Alphabet by 4.3% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 506,535 shares of the information services provider’s stock valued at $96,465,000 after purchasing an additional 20,855 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Alphabet in the fourth quarter valued at approximately $1,551,533,000. Creative Financial Designs Inc. ADV increased its stake in Alphabet by 5.1% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 8,448 shares of the information services provider’s stock valued at $1,609,000 after purchasing an additional 410 shares in the last quarter. Finally, Axxcess Wealth Management LLC increased its stake in Alphabet by 1.0% in the fourth quarter. Axxcess Wealth Management LLC now owns 120,789 shares of the information services provider’s stock valued at $22,274,000 after purchasing an additional 1,157 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Stock Performance

Shares of GOOG opened at $183.10 on Wednesday. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $208.70. The firm has a fifty day simple moving average of $172.19 and a 200 day simple moving average of $174.74. The stock has a market capitalization of $2.22 trillion, a price-to-earnings ratio of 20.41, a PEG ratio of 1.28 and a beta of 1.01. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping the consensus estimate of $2.02 by $0.79. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The business had revenue of $90.23 billion during the quarter, compared to analysts’ expectations of $89.30 billion. During the same quarter in the prior year, the company posted $1.89 earnings per share. The firm’s revenue was up 12.0% on a year-over-year basis. Research analysts forecast that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were given a $0.21 dividend. The ex-dividend date was Monday, June 9th. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 0.46%. Alphabet’s dividend payout ratio is presently 9.36%.

Insider Activity

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $178.52, for a total value of $5,801,900.00. Following the transaction, the chief executive officer directly owned 2,559,892 shares of the company’s stock, valued at $456,991,919.84. This trade represents a 1.25% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 600 shares of the firm’s stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total transaction of $105,000.00. Following the completion of the transaction, the director directly owned 6,813 shares in the company, valued at approximately $1,192,275. This represents a 8.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 182,943 shares of company stock valued at $31,223,348 over the last ninety days. 12.99% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages have commented on GOOG. BNP Paribas downgraded shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, June 26th. UBS Group reaffirmed a “buy” rating on shares of Alphabet in a research note on Wednesday, July 9th. Barclays reaffirmed a “buy” rating on shares of Alphabet in a research note on Wednesday, July 9th. Citigroup reaffirmed a “sell” rating on shares of Alphabet in a research note on Wednesday, April 23rd. Finally, Raymond James Financial reaffirmed an “outperform” rating on shares of Alphabet in a research note on Wednesday, July 9th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating, eighteen have given a buy rating and six have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $207.13.

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.