True North Advisors LLC Sells 16,354 Shares of Alphabet Inc. (NASDAQ:GOOG)

True North Advisors LLC lowered its stake in Alphabet Inc. (NASDAQ:GOOG) by 29.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 39,584 shares of the information services provider’s stock after selling 16,354 shares during the quarter. Alphabet comprises about 1.7% of True North Advisors LLC’s portfolio, making the stock its 5th biggest holding. True North Advisors LLC’s holdings in Alphabet were worth $6,027,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Veracity Capital LLC lifted its position in Alphabet by 12.4% in the fourth quarter. Veracity Capital LLC now owns 10,597 shares of the information services provider’s stock valued at $1,493,000 after buying an additional 1,173 shares during the last quarter. Independence Bank of Kentucky lifted its position in Alphabet by 25.3% in the fourth quarter. Independence Bank of Kentucky now owns 6,093 shares of the information services provider’s stock valued at $859,000 after buying an additional 1,230 shares during the last quarter. Park Avenue Securities LLC lifted its position in Alphabet by 11.9% in the first quarter. Park Avenue Securities LLC now owns 109,878 shares of the information services provider’s stock valued at $16,730,000 after buying an additional 11,646 shares during the last quarter. Strategic Blueprint LLC lifted its position in Alphabet by 36.7% in the fourth quarter. Strategic Blueprint LLC now owns 15,068 shares of the information services provider’s stock valued at $2,123,000 after buying an additional 4,044 shares during the last quarter. Finally, Investment Partners LTD. lifted its position in Alphabet by 5.8% in the fourth quarter. Investment Partners LTD. now owns 7,446 shares of the information services provider’s stock valued at $1,049,000 after buying an additional 410 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOG has been the topic of a number of recent research reports. Morgan Stanley reiterated an “overweight” rating and set a $165.00 price target on shares of Alphabet in a research note on Thursday, April 11th. Stifel Nicolaus boosted their price target on shares of Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Finally, Oppenheimer boosted their price target on shares of Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research note on Monday, April 8th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Alphabet presently has an average rating of “Buy” and a consensus target price of $165.67.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $177.40, for a total transaction of $3,991,500.00. Following the sale, the chief executive officer now directly owns 2,213,011 shares in the company, valued at $392,588,151.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $177.40, for a total transaction of $3,991,500.00. Following the sale, the chief executive officer now directly owns 2,213,011 shares in the company, valued at $392,588,151.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John Kent Walker sold 12,084 shares of the stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $151.19, for a total transaction of $1,826,979.96. Following the completion of the transaction, the insider now owns 48,717 shares in the company, valued at $7,365,523.23. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 158,458 shares of company stock worth $26,375,053. Company insiders own 12.99% of the company’s stock.

Alphabet Stock Up 0.3 %

Shares of NASDAQ:GOOG opened at $180.79 on Tuesday. The firm’s 50-day moving average is $172.10 and its two-hundred day moving average is $154.41. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.15. Alphabet Inc. has a 1 year low of $115.83 and a 1 year high of $182.51. The firm has a market capitalization of $2.23 trillion, a PE ratio of 27.73, a price-to-earnings-growth ratio of 1.35 and a beta of 1.01.

Alphabet (NASDAQ:GOOG) last released its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.51 by $0.38. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The firm had revenue of $80.54 billion for the quarter, compared to analyst estimates of $78.75 billion. During the same period in the prior year, the firm earned $1.17 earnings per share. The business’s quarterly revenue was up 15.4% compared to the same quarter last year. Analysts predict that Alphabet Inc. will post 7.6 EPS for the current year.

Alphabet Announces Dividend

The company also recently announced a — dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 10th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, June 10th. Alphabet’s payout ratio is 12.27%.

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.