Alphabet Inc. (NASDAQ:GOOG) is Lake Street Private Wealth LLC’s 8th Largest Position

Lake Street Private Wealth LLC lowered its position in Alphabet Inc. (NASDAQ:GOOG) by 2.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 83,832 shares of the information services provider’s stock after selling 2,302 shares during the quarter. Alphabet makes up approximately 1.8% of Lake Street Private Wealth LLC’s holdings, making the stock its 8th biggest position. Lake Street Private Wealth LLC’s holdings in Alphabet were worth $12,764,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Partnership Wealth Management LLC acquired a new stake in Alphabet in the 4th quarter worth approximately $26,000. Bruce G. Allen Investments LLC acquired a new position in Alphabet during the 4th quarter worth $26,000. Equitec Proprietary Markets LLC acquired a new position in Alphabet during the 4th quarter worth $28,000. DiNuzzo Private Wealth Inc. acquired a new stake in shares of Alphabet in the fourth quarter valued at about $32,000. Finally, Richardson Financial Services Inc. acquired a new position in shares of Alphabet during the 4th quarter worth about $34,000. 27.26% of the stock is owned by institutional investors and hedge funds.

Alphabet Price Performance

Shares of GOOG opened at $187.39 on Thursday. The stock has a market cap of $2.32 trillion, a P/E ratio of 28.74, a price-to-earnings-growth ratio of 1.40 and a beta of 1.05. The stock’s 50-day moving average price is $175.47 and its two-hundred day moving average price is $156.57. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 1 year low of $115.83 and a 1 year high of $187.62.

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

Alphabet Announces Dividend

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

Analysts Set New Price Targets

Several equities analysts recently commented on GOOG shares. Oppenheimer lifted their price objective on Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research report on Monday, April 8th. Rosenblatt Securities lowered shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective on the stock. in a report on Friday, June 28th. Stifel Nicolaus boosted their target price 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, Morgan Stanley reissued an “overweight” rating and issued a $165.00 price target on shares of Alphabet in a report on Thursday, April 11th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $167.86.

Insiders Place Their Bets

In other news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $186.74, for a total transaction of $4,201,650.00. Following the completion of the transaction, the chief executive officer now directly owns 2,227,385 shares of the company’s stock, valued at $415,941,874.90. 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 stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $186.74, for a total transaction of $4,201,650.00. Following the completion of the transaction, the chief executive officer now owns 2,227,385 shares in the company, valued at $415,941,874.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total transaction of $125,126.54. Following the completion of the sale, the chief accounting officer now owns 30,650 shares in the company, valued at $5,623,355.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 146,288 shares of company stock worth $25,345,053. 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.