Patron Partners LLC Trims Position in Alphabet Inc. (NASDAQ:GOOG)

Patron Partners LLC cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 6.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,189 shares of the information services provider’s stock after selling 414 shares during the quarter. Patron Partners LLC’s holdings in Alphabet were worth $942,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of GOOG. Woodward Diversified Capital LLC grew its position in Alphabet by 0.7% in the first quarter. Woodward Diversified Capital LLC now owns 8,609 shares of the information services provider’s stock valued at $1,311,000 after acquiring an additional 62 shares during the last quarter. Intergy Private Wealth LLC grew its holdings in shares of Alphabet by 1.9% during the 1st quarter. Intergy Private Wealth LLC now owns 3,393 shares of the information services provider’s stock valued at $517,000 after purchasing an additional 63 shares during the last quarter. Smith Anglin Financial LLC increased its position in Alphabet by 2.0% during the 1st quarter. Smith Anglin Financial LLC now owns 3,223 shares of the information services provider’s stock worth $491,000 after purchasing an additional 64 shares in the last quarter. Fiduciary Alliance LLC lifted its stake in Alphabet by 1.4% in the 1st quarter. Fiduciary Alliance LLC now owns 4,867 shares of the information services provider’s stock valued at $762,000 after purchasing an additional 67 shares during the last quarter. Finally, Town & Country Bank & Trust CO dba First Bankers Trust CO lifted its stake in Alphabet by 0.8% in the 1st quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 8,588 shares of the information services provider’s stock valued at $1,308,000 after purchasing an additional 68 shares during the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the 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 sale, the chief executive officer now directly owns 2,227,385 shares in the company, valued at approximately $415,941,874.90. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 2,227,385 shares of the company’s stock, valued at approximately $415,941,874.90. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John L. Hennessy sold 800 shares of Alphabet stock in a transaction on Friday, April 12th. The shares were sold at an average price of $159.56, for a total transaction of $127,648.00. Following the completion of the sale, the director now owns 7,991 shares of the company’s stock, valued at approximately $1,275,043.96. The disclosure for this sale can be found here. Insiders have sold a total of 146,288 shares of company stock worth $25,345,053 over the last quarter. Company insiders own 12.99% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Morgan Stanley reiterated an “overweight” rating and set a $165.00 price target on shares of Alphabet in a report on Thursday, April 11th. Stifel Nicolaus increased their target price on Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Rosenblatt Securities cut Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target on the stock. in a report on Friday, June 28th. Finally, Oppenheimer upped their price objective on Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research note on Monday, April 8th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and an average target price of $167.86.

Alphabet Trading Up 0.7 %

Shares of GOOG stock opened at $191.77 on Wednesday. Alphabet Inc. has a 1-year low of $115.83 and a 1-year high of $192.86. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05. The stock has a market cap of $2.37 trillion, a price-to-earnings ratio of 29.21, a PEG ratio of 1.43 and a beta of 1.05. The stock has a 50-day moving average of $177.92 and a 200-day moving average of $158.32.

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, beating analysts’ consensus estimates of $1.51 by $0.38. The business had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $78.75 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The company’s revenue for the quarter was up 15.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.17 EPS. On average, equities research analysts forecast that Alphabet Inc. will post 7.6 earnings per share for the current year.

Alphabet Dividend Announcement

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 was Monday, June 10th. Alphabet’s dividend payout ratio is presently 12.27%.

About Alphabet

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.