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

Smartleaf Asset Management LLC decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.6% during the first quarter, HoldingsChannel reports. The institutional investor owned 47,648 shares of the information services provider’s stock after selling 283 shares during the period. Alphabet accounts for 0.7% of Smartleaf Asset Management LLC’s portfolio, making the stock its 20th largest position. Smartleaf Asset Management LLC’s holdings in Alphabet were worth $7,436,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of 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 buying an additional 9,687,855 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Alphabet by 9.9% in 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 during the period. Northern Trust Corp boosted its holdings in shares of Alphabet by 16.1% in 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 during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Alphabet by 2.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 34,103,417 shares of the information services provider’s stock valued at $6,494,655,000 after purchasing an additional 769,335 shares during the period. Finally, Janus Henderson Group PLC boosted its holdings in shares of Alphabet by 5.0% in the fourth quarter. Janus Henderson Group PLC now owns 30,827,999 shares of the information services provider’s stock valued at $5,870,944,000 after purchasing an additional 1,467,805 shares during the period. Institutional investors own 27.26% of the company’s stock.

Alphabet Stock Performance

Shares of GOOG 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 stock has a fifty day moving average price of $187.71 and a 200-day moving average price of $174.86. 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 firm has a market cap of $2.50 trillion, a PE ratio of 22.01, a P/E/G ratio of 1.35 and a beta of 1.02.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $93.67 billion. During the same quarter in the prior year, the business posted $1.89 EPS. The business’s revenue for the quarter was up 13.8% compared to the same quarter last year. Equities research analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.4%. Alphabet’s dividend payout ratio is currently 8.95%.

Insider Transactions at Alphabet

In other news, Director Kavitark Ram Shriram sold 18,566 shares of the firm’s stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the sale, the director directly owned 243,400 shares in the company, valued at $45,213,984. This trade represents a 7.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John L. Hennessy sold 1,000 shares of the firm’s stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $200.00, for a total value of $200,000.00. Following the sale, the director owned 6,916 shares in the company, valued at $1,383,200. This trade represents a 12.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 254,719 shares of company stock valued at $47,223,172 over the last three months. Company insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on GOOG shares. Needham & Company LLC lowered Alphabet from a “buy” rating to a “cautious” rating in a report on Friday, May 2nd. UBS Group boosted their price target on Alphabet from $186.00 to $192.00 and gave the company a “neutral” rating in a report on Wednesday, July 16th. Susquehanna reiterated a “positive” rating on shares of Alphabet in a report on Friday, May 2nd. The Goldman Sachs Group restated a “buy” rating and set a $220.00 target price on shares of Alphabet in a report on Monday, June 2nd. Finally, Piper Sandler restated a “neutral” rating on shares of Alphabet in a report on Wednesday, July 9th. Five analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price 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.