Godsey & Gibb Inc. Sells 90 Shares of Alphabet Inc. (NASDAQ:GOOG)

Godsey & Gibb Inc. reduced its stake in Alphabet Inc. (NASDAQ:GOOG) by 1.5% during the first quarter, HoldingsChannel.com reports. The firm owned 6,090 shares of the information services provider’s stock after selling 90 shares during the quarter. Godsey & Gibb Inc.’s holdings in Alphabet were worth $951,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Princeton Global Asset Management LLC lifted 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 valued at $5,511,000 after acquiring an additional 710 shares in the last quarter. Intergy Private Wealth LLC lifted 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 valued at $658,000 after acquiring an additional 201 shares in the last quarter. Towneley Capital Management Inc DE bought a new position in Alphabet in the 1st quarter valued at approximately $210,000. Reliant Investment Management LLC bought a new position in Alphabet in the 1st quarter valued at approximately $249,000. Finally, Independence Bank of Kentucky lifted its position in Alphabet by 10.2% in the 1st quarter. Independence Bank of Kentucky now owns 14,907 shares of the information services provider’s stock valued at $2,329,000 after acquiring an additional 1,376 shares in the last quarter. 27.26% of the stock is owned by institutional investors.

Alphabet Price Performance

Shares of Alphabet stock opened at $174.92 on Friday. Alphabet Inc. has a one year low of $142.66 and a one year high of $208.70. The stock’s fifty day moving average is $161.88 and its 200 day moving average is $176.05. The stock has a market cap of $2.12 trillion, a P/E ratio of 21.73, a P/E/G ratio of 1.34 and a beta of 1.01. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping analysts’ consensus estimates of $2.02 by $0.79. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The company had revenue of $90.23 billion for the quarter, compared to analysts’ expectations of $89.30 billion. During the same period last year, the firm earned $1.89 EPS. Alphabet’s revenue for the quarter was up 12.0% compared to the same quarter last year. Sell-side analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Increases Dividend

The firm 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 dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, June 9th. This is a boost from Alphabet’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a yield of 0.48%. Alphabet’s dividend payout ratio (DPR) is currently 9.36%.

Analyst Ratings Changes

Several research firms recently issued reports on GOOG. Rosenblatt Securities raised Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 25th. Westpark Capital reaffirmed a “buy” rating and issued a $210.00 price objective on shares of Alphabet in a research report on Friday, April 25th. Needham & Company LLC cut Alphabet from a “buy” rating to a “cautious” rating in a research report on Friday, May 2nd. JPMorgan Chase & Co. upped their price objective on Alphabet from $180.00 to $195.00 and gave the company an “overweight” rating in a research report on Friday, April 25th. Finally, Susquehanna reissued a “positive” rating on shares of Alphabet in a report on Friday, May 2nd. Three investment analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have assigned a buy rating and five have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and a consensus price target of $204.88.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of the firm’s stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $1,837,500.00. Following the sale, the director now directly owns 261,966 shares of the company’s stock, valued at $45,844,050. This trade represents a 3.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $158.56, for a total value of $5,153,200.00. Following the sale, the chief executive officer now directly owns 2,717,696 shares in the company, valued at approximately $430,917,877.76. This represents a 1.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 195,770 shares of company stock valued at $32,036,638 over the last ninety days. 12.99% of the stock is currently owned by company insiders.

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.