Community Financial Services Group LLC Lowers Position in Alphabet Inc. (NASDAQ:GOOG)

Community Financial Services Group LLC lowered its holdings in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 5.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 73,331 shares of the information services provider's stock after selling 4,297 shares during the quarter. Alphabet comprises about 2.5% of Community Financial Services Group LLC's investment portfolio, making the stock its 9th biggest position. Community Financial Services Group LLC's holdings in Alphabet were worth $11,457,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of GOOG. Ethos Financial Group LLC boosted its position in Alphabet by 0.7% during the 4th quarter. Ethos Financial Group LLC now owns 7,300 shares of the information services provider's stock valued at $1,395,000 after buying an additional 53 shares during the period. Hutchinson Capital Management CA raised its stake in shares of Alphabet by 1.5% during the fourth quarter. Hutchinson Capital Management CA now owns 3,555 shares of the information services provider's stock valued at $677,000 after acquiring an additional 54 shares during the last quarter. M. Kulyk & Associates LLC boosted its holdings in shares of Alphabet by 0.9% during the fourth quarter. M. Kulyk & Associates LLC now owns 6,445 shares of the information services provider's stock worth $1,227,000 after purchasing an additional 56 shares during the period. Retirement Planning Co of New England Inc. grew its stake in shares of Alphabet by 0.4% in the fourth quarter. Retirement Planning Co of New England Inc. now owns 15,977 shares of the information services provider's stock worth $3,043,000 after purchasing an additional 56 shares during the last quarter. Finally, Concentrum Wealth Management grew its stake in shares of Alphabet by 0.3% in the fourth quarter. Concentrum Wealth Management now owns 17,328 shares of the information services provider's stock worth $3,300,000 after purchasing an additional 57 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company's stock.

Alphabet Stock Up 1.7%

Shares of Alphabet stock traded up $2.94 during midday trading on Thursday, hitting $174.43. The company had a trading volume of 25,862,351 shares, compared to its average volume of 20,718,857. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $208.70. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.77 and a current ratio of 1.77. The stock has a market capitalization of $2.12 trillion, a P/E ratio of 19.45, a P/E/G ratio of 1.18 and a beta of 1.01. The company has a 50 day moving average of $166.90 and a 200 day moving average of $176.24.

Alphabet (NASDAQ:GOOG - Get Free Report) last released its earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping analysts' consensus estimates of $2.02 by $0.79. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. The firm had revenue of $90.23 billion for the quarter, compared to analysts' expectations of $89.30 billion. During the same period in the prior year, the firm posted $1.89 earnings per share. The company's quarterly revenue was up 12.0% on a year-over-year basis. On average, equities analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 9th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.48%. This is an increase from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date was Monday, June 9th. Alphabet's dividend payout ratio is 9.36%.

Insider Buying and Selling at Alphabet

In related news, Director John L. Hennessy sold 200 shares of the company's stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $161.90, for a total value of $32,380.00. Following the transaction, the director now directly owns 7,613 shares of the company's stock, valued at approximately $1,232,544.70. This represents a 2.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total value of $5,153,200.00. Following the completion of the sale, the chief executive officer now directly owns 2,717,696 shares of the company's stock, valued at approximately $430,917,877.76. The trade was a 1.18% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 216,306 shares of company stock worth $35,782,927. 12.99% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

GOOG has been the subject of a number of recent analyst reports. Citigroup reaffirmed a "sell" rating on shares of Alphabet in a research report on Wednesday, April 23rd. Susquehanna reaffirmed a "positive" rating on shares of Alphabet in a research note on Friday, May 2nd. The Goldman Sachs Group reiterated a "buy" rating and issued a $220.00 price target on shares of Alphabet in a report on Monday, June 2nd. Oppenheimer upped their price objective on shares of Alphabet from $185.00 to $200.00 and gave the stock an "outperform" rating in a report on Friday, April 25th. Finally, UBS Group cut their target price on shares of Alphabet from $209.00 to $173.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating, fourteen have given a buy rating and five have given a strong buy rating to the company's stock. Based on data from MarketBeat, Alphabet presently has a consensus rating of "Moderate Buy" and an average price target of $204.88.

Alphabet Company 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.