Ullmann Wealth Partners Group LLC Sells 109 Shares of Alphabet Inc. (NASDAQ:GOOG)

Ullmann Wealth Partners Group LLC cut its holdings in Alphabet Inc. (NASDAQ:GOOG) by 2.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,996 shares of the information services provider’s stock after selling 109 shares during the period. Ullmann Wealth Partners Group LLC’s holdings in Alphabet were worth $624,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. FMR LLC lifted its stake in Alphabet by 2.8% in the fourth quarter. FMR LLC now owns 117,991,725 shares of the information services provider’s stock valued at $22,470,344,000 after purchasing an additional 3,189,592 shares during the last quarter. Geode Capital Management LLC lifted its stake in Alphabet by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 104,777,092 shares of the information services provider’s stock valued at $19,894,651,000 after purchasing an additional 1,219,606 shares during the last quarter. Capital International Investors lifted its stake in Alphabet by 6.7% in the fourth quarter. Capital International Investors now owns 91,236,069 shares of the information services provider’s stock valued at $17,376,706,000 after purchasing an additional 5,758,244 shares during the last quarter. Northern Trust Corp lifted its stake in Alphabet by 16.1% in the fourth quarter. Northern Trust Corp now owns 57,098,042 shares of the information services provider’s stock valued at $10,873,751,000 after purchasing an additional 7,917,625 shares during the last quarter. Finally, Capital Research Global Investors lifted its stake in Alphabet by 0.8% in the fourth quarter. Capital Research Global Investors now owns 39,148,500 shares of the information services provider’s stock valued at $7,455,571,000 after purchasing an additional 294,556 shares during the last quarter. 27.26% of the stock is owned by institutional investors.

Insider Activity at Alphabet

In other news, Director Kavitark Ram Shriram sold 10,500 shares of the firm’s stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $1,837,500.00. Following the transaction, the director now directly owns 261,966 shares of the company’s stock, valued at approximately $45,844,050. This trade represents a 3.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John L. Hennessy sold 600 shares of the firm’s stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $105,000.00. Following the transaction, the director now directly owns 6,813 shares in the company, valued at $1,192,275. This trade represents a 8.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 195,770 shares of company stock valued at $32,036,638 over the last 90 days. 12.99% of the stock is owned by insiders.

Analyst Ratings Changes

GOOG has been the topic of several research analyst reports. Needham & Company LLC downgraded Alphabet from a “buy” rating to a “cautious” rating in a research note on Friday, May 2nd. UBS Group dropped their price objective on Alphabet from $209.00 to $173.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. Cantor Fitzgerald restated a “neutral” rating and set a $171.00 target price on shares of Alphabet in a research report on Friday, April 25th. Oppenheimer increased their target price on Alphabet from $185.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, April 25th. Finally, Tigress Financial restated a “strong-buy” rating on shares of Alphabet in a research report on Friday, May 2nd. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, fourteen have assigned a buy rating and five have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $204.88.

Alphabet Stock Up 0.2%

GOOG opened at $169.81 on Friday. The stock has a market cap of $2.06 trillion, a PE ratio of 21.09, a P/E/G ratio of 1.34 and a beta of 1.01. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $208.70. The business’s fifty day simple moving average is $161.56 and its 200 day simple moving average is $176.09.

Alphabet (NASDAQ:GOOG) last released its earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, beating analysts’ consensus estimates of $2.02 by $0.79. The business had revenue of $90.23 billion for the quarter, compared to analysts’ expectations of $89.30 billion. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The firm’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, research analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date of this dividend is Monday, June 9th. This is a boost from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s dividend payout ratio is currently 9.36%.

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.