Alphabet Inc. (NASDAQ:GOOG) is Salvus Wealth Management LLC’s 2nd Largest Position

Salvus Wealth Management LLC reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 20.5% in the 1st quarter, HoldingsChannel reports. The firm owned 43,295 shares of the information services provider’s stock after selling 11,183 shares during the quarter. Alphabet makes up 4.5% of Salvus Wealth Management LLC’s portfolio, making the stock its 2nd largest position. Salvus Wealth Management LLC’s holdings in Alphabet were worth $6,592,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Norges Bank acquired a new stake in Alphabet during the fourth quarter worth approximately $4,101,040,000. JPMorgan Chase & Co. grew its position in shares of Alphabet by 11.3% in the third quarter. JPMorgan Chase & Co. now owns 95,941,129 shares of the information services provider’s stock valued at $12,649,838,000 after purchasing an additional 9,703,425 shares during the period. International Assets Investment Management LLC acquired a new position in Alphabet in the fourth quarter valued at $11,600,970,000. Cerity Partners LLC lifted its position in Alphabet by 198.7% during the fourth quarter. Cerity Partners LLC now owns 3,882,882 shares of the information services provider’s stock worth $547,215,000 after buying an additional 2,583,128 shares during the period. Finally, Assenagon Asset Management S.A. boosted its stake in Alphabet by 93.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 4,591,383 shares of the information services provider’s stock worth $647,064,000 after buying an additional 2,222,950 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insider Activity

In related news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $177.40, for a total transaction of $3,991,500.00. Following the transaction, the chief executive officer now directly owns 2,213,011 shares of the company’s stock, valued at approximately $392,588,151.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $177.40, for a total transaction of $3,991,500.00. Following the completion of the sale, the chief executive officer now directly owns 2,213,011 shares of the company’s stock, valued at approximately $392,588,151.40. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Prabhakar Raghavan sold 3,258 shares of Alphabet stock in a transaction on Monday, April 1st. The stock was sold at an average price of $155.97, for a total transaction of $508,150.26. Following the sale, the senior vice president now directly owns 144,685 shares in the company, valued at approximately $22,566,519.45. The disclosure for this sale can be found here. Over the last quarter, insiders sold 158,458 shares of company stock worth $26,375,053. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Trading Up 0.3 %

NASDAQ GOOG traded up $0.53 during mid-day trading on Monday, hitting $180.79. The company’s stock had a trading volume of 18,177,705 shares, compared to its average volume of 21,453,121. The firm has a market capitalization of $2.23 trillion, a P/E ratio of 27.73, a price-to-earnings-growth ratio of 1.33 and a beta of 1.01. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.15. Alphabet Inc. has a 52-week low of $115.83 and a 52-week high of $182.51. The stock’s fifty day simple moving average is $172.10 and its two-hundred day simple moving average is $154.41.

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

Alphabet Dividend Announcement

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

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Morgan Stanley reiterated an “overweight” rating and set a $165.00 price objective on shares of Alphabet in a report on Thursday, April 11th. Oppenheimer increased their price target on shares of Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research note on Monday, April 8th. Finally, Stifel Nicolaus boosted their price objective on shares of Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Alphabet currently has a consensus rating of “Buy” and a consensus 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.