Wellington Management Group LLP Decreases Holdings in Alphabet Inc. (NASDAQ:GOOG)

Wellington Management Group LLP trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.6% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 25,736,133 shares of the information services provider’s stock after selling 431,493 shares during the quarter. Alphabet accounts for about 0.7% of Wellington Management Group LLP’s holdings, making the stock its 26th largest holding. Wellington Management Group LLP’s holdings in Alphabet were worth $3,626,993,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the company. Bruce G. Allen Investments LLC purchased a new position in Alphabet in the 4th quarter worth approximately $26,000. Partnership Wealth Management LLC purchased a new position in Alphabet in the 4th quarter worth approximately $26,000. Equitec Proprietary Markets LLC purchased a new position in Alphabet in the 4th quarter worth approximately $28,000. DiNuzzo Private Wealth Inc. purchased a new position in shares of Alphabet during the fourth quarter valued at approximately $32,000. Finally, Pacific Capital Wealth Advisors Inc. purchased a new position in shares of Alphabet during the fourth quarter valued at approximately $34,000. 27.26% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Alphabet news, Director John L. Hennessy sold 1,500 shares of the business’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $177.92, for a total value of $266,880.00. Following the sale, the director now directly owns 3,727 shares of the company’s stock, valued at $663,107.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $148.78, for a total value of $3,347,550.00. Following the completion of the transaction, the chief executive officer now owns 2,310,191 shares in the company, valued at $343,710,216.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 1,500 shares of the business’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $177.92, for a total value of $266,880.00. Following the completion of the transaction, the director now owns 3,727 shares of the company’s stock, valued at approximately $663,107.84. The disclosure for this sale can be found here. Over the last three months, insiders have sold 158,958 shares of company stock valued at $25,805,853. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Stock Up 0.9 %

Shares of NASDAQ GOOG traded up $1.63 during mid-day trading on Friday, hitting $178.37. 12,361,571 shares of the stock traded hands, compared to its average volume of 15,698,730. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15. Alphabet Inc. has a 52 week low of $115.83 and a 52 week high of $182.08. The company has a market cap of $2.20 trillion, a price-to-earnings ratio of 27.36, a PEG ratio of 1.32 and a beta of 1.01. The stock has a fifty day moving average price of $169.66 and a 200-day moving average price of $152.51.

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, beating the consensus estimate 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 period in the previous year, the company posted $1.17 earnings per share. The firm’s revenue was up 15.4% on a year-over-year basis. Research analysts anticipate that Alphabet Inc. will post 7.69 EPS for the current year.

Alphabet Dividend Announcement

The business also recently announced a — dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 10th will be issued a $0.20 dividend. The ex-dividend date is Monday, June 10th. Alphabet’s dividend payout ratio (DPR) is 12.27%.

Analysts Set New Price Targets

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

Alphabet 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.