Chronos Wealth Management LLC reduced its position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 2.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 67,228 shares of the information services provider's stock after selling 2,017 shares during the period. Alphabet comprises about 5.6% of Chronos Wealth Management LLC's investment portfolio, making the stock its 6th biggest position. Chronos Wealth Management LLC's holdings in Alphabet were worth $10,503,000 at the end of the most recent reporting period.
A number of other large investors have also bought and sold shares of the business. Long Run Wealth Advisors LLC grew its holdings in shares of Alphabet by 19.3% during the first quarter. Long Run Wealth Advisors LLC now owns 23,807 shares of the information services provider's stock worth $3,719,000 after purchasing an additional 3,847 shares during the last quarter. TruWealth Advisors LLC lifted its position in Alphabet by 2.4% during the 1st quarter. TruWealth Advisors LLC now owns 205,357 shares of the information services provider's stock worth $32,083,000 after buying an additional 4,728 shares in the last quarter. Wealth Alliance Advisory Group LLC lifted its position in Alphabet by 6.1% during the 1st quarter. Wealth Alliance Advisory Group LLC now owns 23,309 shares of the information services provider's stock worth $3,642,000 after buying an additional 1,350 shares in the last quarter. Granite Bay Wealth Management LLC grew its holdings in Alphabet by 1.2% during the 1st quarter. Granite Bay Wealth Management LLC now owns 35,324 shares of the information services provider's stock worth $5,519,000 after acquiring an additional 432 shares during the last quarter. Finally, Firethorn Wealth Partners LLC increased its position in Alphabet by 17.4% in the 1st quarter. Firethorn Wealth Partners LLC now owns 4,552 shares of the information services provider's stock valued at $711,000 after acquiring an additional 674 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors.
Insider Transactions at Alphabet
In other Alphabet news, CAO Amie Thuener O'toole sold 673 shares of the company's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $155.33, for a total value of $104,537.09. Following the transaction, the chief accounting officer now directly owns 15,303 shares in the company, valued at $2,377,014.99. The trade was a 4.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John L. Hennessy sold 200 shares of the firm's stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $165.53, for a total transaction of $33,106.00. Following the sale, the director now owns 7,813 shares of the company's stock, valued at approximately $1,293,285.89. This represents a 2.50% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 195,770 shares of company stock worth $32,036,638. 12.99% of the stock is owned by company insiders.
Analyst Ratings Changes
A number of equities analysts have recently issued reports on the stock. Scotiabank reduced their target price on shares of Alphabet from $232.00 to $200.00 and set a "sector outperform" rating on the stock in a research report on Monday, April 21st. Needham & Company LLC lowered Alphabet from a "buy" rating to a "cautious" rating in a research report on Friday, May 2nd. KeyCorp dropped their target price on Alphabet from $202.00 to $185.00 and set an "overweight" rating for the company in a research report on Wednesday, April 9th. Oppenheimer upped their price target on Alphabet from $185.00 to $200.00 and gave the company an "outperform" rating in a research note on Friday, April 25th. Finally, Benchmark reiterated a "negative" rating on shares of Alphabet in a research report on Wednesday, February 5th. Three research analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have given a buy rating and five have given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $204.88.
View Our Latest Stock Report on Alphabet
Alphabet Stock Up 0.2%
GOOG traded up $0.42 during trading on Thursday, hitting $169.81. The company had a trading volume of 24,841,790 shares, compared to its average volume of 20,314,125. The company has a market capitalization of $2.06 trillion, a PE ratio of 21.09, a PEG 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 one year low of $142.66 and a one year high of $208.70. The firm's 50-day moving average price is $161.29 and its 200 day moving average price is $176.14.
Alphabet (NASDAQ:GOOG - Get Free Report) last released its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating analysts' consensus estimates of $2.02 by $0.79. The business had revenue of $90.23 billion during 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 revenue for the quarter was up 12.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.89 earnings per share. As a group, equities analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current year.
Alphabet Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.49%. This is a boost from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Monday, June 9th. Alphabet's dividend payout ratio (DPR) is presently 9.36%.
Alphabet Profile
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Free Report)
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.
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