Triumph Capital Management Decreases Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Triumph Capital Management trimmed its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 8.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,544 shares of the information services provider’s stock after selling 134 shares during the period. Triumph Capital Management’s holdings in Alphabet were worth $294,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Fiduciary Advisors Inc. purchased a new position in shares of Alphabet during the fourth quarter valued at approximately $27,000. LSV Asset Management purchased a new position in shares of Alphabet during the fourth quarter valued at approximately $27,000. WealthTrak Capital Management LLC bought a new stake in Alphabet during the fourth quarter valued at approximately $38,000. Mountain Hill Investment Partners Corp. purchased a new stake in Alphabet during the fourth quarter valued at approximately $39,000. Finally, Noble Wealth Management PBC purchased a new stake in Alphabet during the fourth quarter valued at approximately $43,000. 27.26% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Alphabet

In related news, Director John L. Hennessy sold 200 shares of the company’s stock in a transaction on Monday, April 14th. The shares were sold at an average price of $161.90, for a total transaction of $32,380.00. Following the sale, the director now owns 7,613 shares of the company’s stock, valued at $1,232,544.70. This represents a 2.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $158.56, for a total transaction of $5,153,200.00. Following the sale, the chief executive officer now directly owns 2,717,696 shares in the company, valued at approximately $430,917,877.76. The trade was a 1.18% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 179,324 shares of company stock valued at $30,153,353 over the last 90 days. 12.99% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on GOOG. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Alphabet in a report on Wednesday, February 5th. Wedbush reaffirmed an “outperform” rating and set a $220.00 target price on shares of Alphabet in a report on Thursday, January 30th. Tigress Financial reaffirmed a “strong-buy” rating on shares of Alphabet in a report on Friday, May 2nd. Citigroup reaffirmed a “sell” rating on shares of Alphabet in a report on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. upped their target price on shares of Alphabet from $180.00 to $195.00 and gave the company an “overweight” rating in a report on Friday, April 25th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have assigned a buy rating and five have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $203.94.

Alphabet Price Performance

Shares of NASDAQ:GOOG opened at $167.43 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. The firm has a fifty day moving average price of $160.19 and a 200 day moving average price of $176.75. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $208.70. The firm has a market cap of $2.03 trillion, a price-to-earnings ratio of 20.80, a P/E/G ratio of 1.34 and a beta of 1.01.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.02 by $0.79. The company had revenue of $90.23 billion for the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. Alphabet’s revenue was up 12.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.89 earnings per share. As a group, sell-side analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be paid a dividend of $0.21 per share. This is an increase from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a yield of 0.50%. Alphabet’s dividend payout ratio is presently 9.36%.

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.