Alphabet Inc. (NASDAQ:GOOGL) Position Cut by Armstrong Fleming & Moore Inc

Armstrong Fleming & Moore Inc lowered its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 81.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,332 shares of the information services provider's stock after selling 5,840 shares during the period. Armstrong Fleming & Moore Inc's holdings in Alphabet were worth $206,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in GOOGL. Macroview Investment Management LLC lifted its holdings in Alphabet by 4.2% during the 4th quarter. Macroview Investment Management LLC now owns 1,293 shares of the information services provider's stock worth $245,000 after buying an additional 52 shares during the period. Cornerstone Planning Group LLC raised its position in shares of Alphabet by 2.3% during the fourth quarter. Cornerstone Planning Group LLC now owns 2,381 shares of the information services provider's stock worth $457,000 after acquiring an additional 53 shares during the last quarter. Addison Advisors LLC lifted its stake in shares of Alphabet by 0.7% in the fourth quarter. Addison Advisors LLC now owns 7,527 shares of the information services provider's stock worth $1,425,000 after acquiring an additional 53 shares during the period. Burt Wealth Advisors boosted its holdings in Alphabet by 1.0% in the fourth quarter. Burt Wealth Advisors now owns 5,307 shares of the information services provider's stock valued at $1,005,000 after acquiring an additional 54 shares during the last quarter. Finally, Perritt Capital Management Inc increased its position in Alphabet by 10.4% during the 4th quarter. Perritt Capital Management Inc now owns 618 shares of the information services provider's stock valued at $117,000 after purchasing an additional 58 shares during the period. Institutional investors own 40.03% of the company's stock.

Alphabet Stock Up 0.1%

Alphabet stock opened at $168.21 on Friday. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $207.05. 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 firm's 50-day simple moving average is $159.81 and its 200 day simple moving average is $174.38. The stock has a market cap of $2.04 trillion, a PE ratio of 20.90, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping analysts' consensus estimates of $2.02 by $0.79. The firm had revenue of $76.49 billion for the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. During the same quarter in the previous year, the business earned $1.89 EPS. Research analysts predict that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be given a $0.21 dividend. The ex-dividend date of this dividend is Monday, June 9th. This represents a $0.84 annualized dividend and a yield of 0.50%. This is a boost from Alphabet's previous quarterly dividend of $0.20. Alphabet's payout ratio is currently 9.36%.

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O'toole sold 673 shares of the stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $155.33, for a total transaction of $104,537.09. Following the completion of the transaction, the chief accounting officer now directly owns 15,303 shares of the company's stock, valued at $2,377,014.99. This represents a 4.21% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $168.71, for a total transaction of $5,483,075.00. Following the sale, the chief executive officer now owns 2,587,696 shares of the company's stock, valued at approximately $436,570,192.16. The trade was a 1.24% decrease in their position. The disclosure for this sale can be found here. Insiders sold 195,770 shares of company stock worth $32,036,638 in the last quarter. 11.64% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of a number of recent analyst reports. DA Davidson dropped their price target on shares of Alphabet from $200.00 to $160.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Westpark Capital restated a "buy" rating and issued a $210.00 target price on shares of Alphabet in a report on Thursday, May 8th. DZ Bank downgraded Alphabet from a "buy" rating to a "hold" rating and set a $198.00 price target for the company. in a report on Thursday, February 6th. JPMorgan Chase & Co. lowered their price objective on Alphabet from $220.00 to $180.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Finally, KeyCorp upped their target price on Alphabet from $185.00 to $195.00 and gave the company an "overweight" rating in a research report on Friday, April 25th. Ten research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $199.75.

About Alphabet

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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