JCIC Asset Management Inc. Sells 1,675 Shares of Alphabet Inc. (NASDAQ:GOOG)

JCIC Asset Management Inc. lowered its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 1.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 108,462 shares of the information services provider's stock after selling 1,675 shares during the quarter. Alphabet accounts for about 7.1% of JCIC Asset Management Inc.'s holdings, making the stock its 2nd largest position. JCIC Asset Management Inc.'s holdings in Alphabet were worth $16,945,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the company. Principia Wealth Advisory LLC boosted its stake in Alphabet by 111.8% during the first quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock worth $26,000 after buying an additional 85 shares in the last quarter. LSV Asset Management bought a new position in shares of Alphabet during the 4th quarter worth about $27,000. WealthTrak Capital Management LLC acquired a new stake in shares of Alphabet during the 4th quarter valued at about $38,000. Mountain Hill Investment Partners Corp. bought a new stake in Alphabet in the fourth quarter valued at about $39,000. Finally, Noble Wealth Management PBC acquired a new position in Alphabet in the fourth quarter worth about $43,000. Institutional investors own 27.26% of the company's stock.

Insider Transactions at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $176.68, for a total value of $5,742,100.00. Following the transaction, the chief executive officer now owns 2,555,196 shares of the company's stock, valued at approximately $451,452,029.28. This represents a 1.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Amie Thuener O'toole sold 673 shares of the firm's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total value of $104,537.09. Following the transaction, the chief accounting officer now owns 15,303 shares in the company, valued at approximately $2,377,014.99. This trade represents a 4.21% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 216,195 shares of company stock worth $35,764,898 in the last three months. Insiders own 12.99% of the company's stock.

Alphabet Trading Up 0.2%

NASDAQ:GOOG traded up $0.34 on Friday, hitting $174.77. 8,198,447 shares of the stock were exchanged, compared to its average volume of 20,702,037. The stock has a market capitalization of $2.12 trillion, a price-to-earnings ratio of 19.49, a P/E/G ratio of 1.21 and a beta of 1.01. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.77 and a current ratio of 1.77. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $208.70. The company's 50-day moving average price is $167.33 and its 200 day moving average price is $176.22.

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

Alphabet Increases Dividend

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

Analyst Ratings Changes

A number of research firms have weighed in on GOOG. Rosenblatt Securities raised Alphabet from a "hold" rating to a "strong-buy" rating in a report on Friday, April 25th. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $220.00 price target on shares of Alphabet in a research note on Monday, June 2nd. Citigroup reiterated a "sell" rating on shares of Alphabet in a research note on Wednesday, April 23rd. Westpark Capital restated a "buy" rating and issued a $210.00 target price on shares of Alphabet in a research note on Friday, April 25th. Finally, Susquehanna reiterated a "positive" 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 given a hold rating, fourteen have given a buy rating and five have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price 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.