Saxon Interests Inc. Cuts Position in Alphabet Inc. (NASDAQ:GOOG)

Saxon Interests Inc. decreased its holdings in Alphabet Inc. (NASDAQ:GOOG) by 11.2% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,270 shares of the information services provider’s stock after selling 287 shares during the quarter. Saxon Interests Inc.’s holdings in Alphabet were worth $346,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Bruce G. Allen Investments LLC purchased a new position in shares of Alphabet in the fourth quarter valued at $26,000. Partnership Wealth Management LLC purchased a new stake in Alphabet during the 4th quarter worth about $26,000. Equitec Proprietary Markets LLC purchased a new stake in Alphabet during the 4th quarter worth about $28,000. DiNuzzo Private Wealth Inc. purchased a new stake in Alphabet during the 4th quarter worth about $32,000. Finally, Pacific Capital Wealth Advisors Inc. purchased a new stake in Alphabet during the 4th quarter worth about $34,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Stock Up 1.1 %

NASDAQ GOOG opened at $186.61 on Wednesday. The stock has a market cap of $2.31 trillion, a PE ratio of 28.62, a P/E/G ratio of 1.38 and a beta of 1.05. Alphabet Inc. has a fifty-two week low of $115.83 and a fifty-two week high of $187.50. The business has a 50 day moving average price of $174.93 and a two-hundred day moving average price of $156.20. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOG) last released its quarterly 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. The firm had revenue of $80.54 billion during the quarter, compared to analysts’ expectations of $78.75 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. Alphabet’s quarterly revenue was up 15.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.17 EPS. As a group, sell-side analysts predict that Alphabet Inc. will post 7.6 EPS for the current fiscal year.

Alphabet Announces Dividend

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

Analyst Ratings Changes

GOOG has been the subject of a number of recent research reports. Oppenheimer lifted their price objective on Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research report on Monday, April 8th. Rosenblatt Securities cut Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target for the company. in a report on Friday, June 28th. Stifel Nicolaus lifted their price target on Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Finally, Morgan Stanley restated an “overweight” rating and issued a $165.00 price target on shares of Alphabet in a report on Thursday, April 11th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $167.86.

Insider Buying and Selling at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $157.41, for a total value of $3,541,725.00. Following the transaction, the chief executive officer now directly owns 2,303,011 shares of the company’s stock, valued at approximately $362,516,961.51. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $157.41, for a total transaction of $3,541,725.00. Following the sale, the chief executive officer now directly owns 2,303,011 shares of the company’s stock, valued at approximately $362,516,961.51. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Prabhakar Raghavan sold 3,262 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $183.99, for a total value of $600,175.38. Following the sale, the senior vice president now directly owns 9 shares in the company, valued at $1,655.91. The disclosure for this sale can be found here. Insiders have sold a total of 123,788 shares of company stock valued at $21,143,403 in the last three months. 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.