Mosaic Family Wealth Partners LLC Cuts Position in Alphabet Inc. (NASDAQ:GOOG)

by · The Cerbat Gem

Mosaic Family Wealth Partners LLC lowered its position in shares of Alphabet Inc. (NASDAQ:GOOG – Free Report) by 2.7% in the first quarter, Holdings Channel reports. The firm owned 17,265 shares of the information services provider’s stock after selling 480 shares during the period. Mosaic Family Wealth Partners LLC’s holdings in Alphabet were worth $2,697,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of GOOG. Retirement Planning Co of New England Inc. grew its position in Alphabet by 0.4% in the fourth quarter. Retirement Planning Co of New England Inc. now owns 15,977 shares of the information services provider’s stock worth $3,043,000 after acquiring an additional 56 shares in the last quarter. Concentrum Wealth Management raised its position in Alphabet by 0.3% during the fourth quarter. Concentrum Wealth Management now owns 17,328 shares of the information services provider’s stock valued at $3,300,000 after purchasing an additional 57 shares during the period. JDM Financial Group LLC lifted its stake in shares of Alphabet by 10.6% in the 4th quarter. JDM Financial Group LLC now owns 593 shares of the information services provider’s stock valued at $113,000 after purchasing an additional 57 shares during the last quarter. Kidder Stephen W boosted its holdings in shares of Alphabet by 1.6% in the 4th quarter. Kidder Stephen W now owns 3,608 shares of the information services provider’s stock worth $687,000 after purchasing an additional 58 shares during the period. Finally, Hill Island Financial LLC increased its position in shares of Alphabet by 0.8% during the 4th quarter. Hill Island Financial LLC now owns 7,776 shares of the information services provider’s stock valued at $1,481,000 after purchasing an additional 59 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ GOOG opened at $182.81 on Tuesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.77 and a quick ratio of 1.77. The company has a market cap of $2.22 trillion, a price-to-earnings ratio of 20.38, a price-to-earnings-growth ratio of 1.27 and a beta of 1.01. The stock’s 50-day moving average is $171.84 and its two-hundred day moving average is $174.68. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $208.70.

Alphabet (NASDAQ:GOOG – Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating analysts’ consensus estimates of $2.02 by $0.79. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. 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 earnings per share. Alphabet’s quarterly revenue was up 12.0% on a year-over-year basis. Analysts forecast that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Increases Dividend

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

Wall Street Analysts Forecast Growth

GOOG has been the subject of several recent analyst reports. BNP Paribas lowered shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, June 26th. Citigroup reaffirmed a “sell” rating on shares of Alphabet in a research note on Wednesday, April 23rd. Oppenheimer reissued an “outperform” rating and issued a $220.00 price objective (up from $200.00) on shares of Alphabet in a research report on Wednesday, July 9th. KeyCorp decreased their price objective on shares of Alphabet from $202.00 to $185.00 and set an “overweight” rating for the company in a research note on Wednesday, April 9th. Finally, Scotiabank dropped their target price on Alphabet from $232.00 to $200.00 and set a “sector outperform” rating for the company in a research report on Monday, April 21st. Three analysts have rated the stock with a sell rating, five have assigned a hold rating, eighteen have given a buy rating and six have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $207.13.

View Our Latest Analysis on Alphabet

Insider Buying and Selling at Alphabet

In other Alphabet news, Director John L. Hennessy sold 600 shares of Alphabet stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $105,000.00. Following the transaction, the director directly owned 6,813 shares in the company, valued at approximately $1,192,275. The trade was a 8.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total value of $5,801,900.00. Following the sale, the chief executive officer 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 215,443 shares of company stock worth $36,298,548. 12.99% of the stock is owned by insiders.

Alphabet Company Profile

(Free Report)

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.

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