Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Circle Wealth Management LLC

Circle Wealth Management LLC cut its stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 4.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 74,288 shares of the information services provider's stock after selling 3,684 shares during the period. Alphabet accounts for 0.3% of Circle Wealth Management LLC's portfolio, making the stock its 24th largest position. Circle Wealth Management LLC's holdings in Alphabet were worth $14,147,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in the stock. Fiduciary Advisors Inc. acquired a new position in shares of Alphabet in the 4th quarter valued at about $27,000. LSV Asset Management acquired a new position in shares of Alphabet in the 4th quarter worth approximately $27,000. WealthTrak Capital Management LLC acquired a new stake in shares of Alphabet during the 4th quarter valued at $38,000. Mountain Hill Investment Partners Corp. acquired a new position in shares of Alphabet in the 4th quarter valued at $39,000. Finally, Noble Wealth Management PBC purchased a new stake in shares of Alphabet in the 4th quarter valued at approximately $43,000. 27.26% of the stock is currently owned by institutional investors.

Alphabet Trading Down 7.5 %

Shares of GOOG opened at $152.82 on Thursday. The stock has a fifty day moving average price of $161.59 and a two-hundred day moving average price of $177.00. 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 company has a market cap of $1.85 trillion, a price-to-earnings ratio of 18.98, a PEG ratio of 1.34 and a beta of 1.01. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $208.70.

Alphabet (NASDAQ:GOOG - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.79. The business 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%. The firm's quarterly revenue was up 12.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.89 EPS. Analysts predict that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.55%. 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 payout ratio is 9.36%.

Analysts Set New Price Targets

Several research firms recently commented on GOOG. Susquehanna restated a "positive" rating on shares of Alphabet in a report on Friday, May 2nd. Morgan Stanley reissued an "overweight" rating on shares of Alphabet in a research report on Wednesday, February 5th. Citigroup restated a "sell" rating on shares of Alphabet in a research note on Wednesday, April 23rd. Scotiabank decreased their target price on Alphabet from $232.00 to $200.00 and set a "sector outperform" rating for the company in a research note on Monday, April 21st. Finally, KeyCorp reduced their price target on shares of Alphabet from $202.00 to $185.00 and set an "overweight" rating for the company in a report on Wednesday, April 9th. 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 given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $203.94.

Insiders Place Their Bets

In related news, insider John Kent Walker sold 17,690 shares of the firm's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $185.51, for a total value of $3,281,671.90. Following the transaction, the insider now owns 43,111 shares in the company, valued at $7,997,521.61. This trade represents a 29.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Amie Thuener O'toole sold 2,824 shares of the business's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $187.43, for a total value of $529,302.32. Following the sale, the chief accounting officer now directly owns 15,024 shares of the company's stock, valued at $2,815,948.32. This represents a 15.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 146,824 shares of company stock valued at $25,086,603. 12.99% of the stock is currently owned by corporate insiders.

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.

Want to see what other hedge funds are holding GOOG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.