Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Horizon Wealth Management LLC

Horizon Wealth Management LLC lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 7.4% in the first quarter, according to its most recent filing with the SEC. The firm owned 9,993 shares of the information services provider’s stock after selling 800 shares during the quarter. Alphabet comprises approximately 0.3% of Horizon Wealth Management LLC’s holdings, making the stock its 26th largest position. Horizon Wealth Management LLC’s holdings in Alphabet were worth $1,561,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in GOOG. LSV Asset Management acquired a new stake in shares of Alphabet during the fourth quarter worth $27,000. WealthTrak Capital Management LLC acquired a new stake in shares of Alphabet during the fourth quarter worth $38,000. Mountain Hill Investment Partners Corp. acquired a new stake in shares of Alphabet during the fourth quarter worth $39,000. Noble Wealth Management PBC acquired a new stake in shares of Alphabet during the fourth quarter worth $43,000. Finally, Sellwood Investment Partners LLC acquired a new stake in shares of Alphabet during the fourth quarter worth $43,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ:GOOG opened at $174.92 on Friday. The business has a 50 day moving average price of $161.88 and a 200 day moving average price of $176.05. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $208.70. The company has a market cap of $2.12 trillion, a price-to-earnings ratio of 21.73, a PEG ratio of 1.34 and a beta of 1.01. The company has a quick ratio of 1.84, a current ratio of 1.84 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 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.79. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The firm had revenue of $90.23 billion during the quarter, compared to the consensus estimate of $89.30 billion. During the same quarter in the prior year, the company earned $1.89 EPS. The firm’s revenue for the quarter was up 12.0% compared to the same quarter last year. Research analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be issued a $0.21 dividend. This is a boost from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Monday, June 9th. This represents a $0.84 annualized dividend and a yield of 0.48%. Alphabet’s dividend payout ratio is 9.36%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on GOOG. UBS Group cut their target price on Alphabet from $209.00 to $173.00 and set a “neutral” rating on the stock in a research report on Friday, April 11th. KeyCorp cut their target price on Alphabet from $202.00 to $185.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 9th. Citigroup reaffirmed a “sell” rating on shares of Alphabet in a research report on Wednesday, April 23rd. Rosenblatt Securities raised Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 25th. Finally, Needham & Company LLC lowered Alphabet from a “buy” rating to a “cautious” rating in a research report on Friday, May 2nd. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have given a buy rating and five have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $204.88.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 673 shares of the company’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total value of $104,537.09. Following the completion of the transaction, the chief accounting officer now owns 15,303 shares of the company’s stock, valued at $2,377,014.99. This represents a 4.21% decrease in their position. 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 company’s stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $168.71, for a total value of $5,483,075.00. Following the completion of the transaction, the chief executive officer now directly owns 2,587,696 shares of the company’s stock, valued at approximately $436,570,192.16. This trade represents a 1.24% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 195,770 shares of company stock valued at $32,036,638 in the last quarter. Corporate insiders own 12.99% of the company’s stock.

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.