Smartleaf Asset Management LLC Sells 283 Shares of Alphabet Inc. $GOOG

Smartleaf Asset Management LLC lowered its position in Alphabet Inc. (NASDAQ:GOOG) by 0.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 47,648 shares of the information services provider’s stock after selling 283 shares during the period. Alphabet comprises about 0.7% of Smartleaf Asset Management LLC’s investment portfolio, making the stock its 20th biggest holding. Smartleaf Asset Management LLC’s holdings in Alphabet were worth $7,436,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of GOOG. Nuveen LLC bought a new stake in shares of Alphabet in the first quarter worth $2,622,943,000. GAMMA Investing LLC lifted its position in Alphabet by 18,562.3% during the first quarter. GAMMA Investing LLC now owns 14,323,323 shares of the information services provider’s stock valued at $2,237,733,000 after purchasing an additional 14,246,573 shares in the last quarter. Vanguard Group Inc. lifted its position in Alphabet by 2.4% during the first quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider’s stock valued at $64,299,725,000 after purchasing an additional 9,687,855 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Alphabet by 9.9% during the first quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider’s stock valued at $15,971,861,000 after purchasing an additional 9,243,959 shares in the last quarter. Finally, Northern Trust Corp lifted its position in Alphabet by 16.1% during the fourth quarter. Northern Trust Corp now owns 57,098,042 shares of the information services provider’s stock valued at $10,873,751,000 after purchasing an additional 7,917,625 shares in the last quarter. Institutional investors own 27.26% of the company’s stock.

Alphabet Trading Up 3.0%

Shares of GOOG stock opened at $206.72 on Friday. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $209.23. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The stock’s 50-day moving average price is $187.71 and its 200-day moving average price is $174.86. The stock has a market capitalization of $2.50 trillion, a price-to-earnings ratio of 22.01, a price-to-earnings-growth ratio of 1.35 and a beta of 1.02.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.19. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The firm had revenue of $96.43 billion for the quarter, compared to analysts’ expectations of $93.67 billion. During the same period in the previous year, the firm posted $1.89 earnings per share. The business’s revenue was up 13.8% compared to the same quarter last year. Equities research analysts predict that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet’s payout ratio is presently 8.95%.

Insider Buying and Selling

In other Alphabet news, insider John Kent Walker sold 23,820 shares of the business’s stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the sale, the insider directly owned 42,999 shares of the company’s stock, valued at $8,371,905.30. The trade was a 35.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Kavitark Ram Shriram sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $2,786,400.00. Following the sale, the director directly owned 240,400 shares in the company, valued at $44,656,704. The trade was a 5.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 254,719 shares of company stock valued at $47,223,172. Insiders own 12.99% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on GOOG shares. Raymond James Financial reiterated an “outperform” rating and set a $210.00 target price (up from $185.00) on shares of Alphabet in a research report on Thursday, July 24th. Susquehanna reiterated a “positive” rating on shares of Alphabet in a research report on Friday, May 2nd. Cowen reiterated a “buy” rating on shares of Alphabet in a research report on Wednesday, July 9th. Needham & Company LLC downgraded Alphabet from a “buy” rating to a “cautious” rating in a research report on Friday, May 2nd. Finally, UBS Group boosted their price objective on Alphabet from $186.00 to $192.00 and gave the company a “neutral” rating in a research report on Wednesday, July 16th. Five research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and a consensus price target of $215.19.

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.