Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Montchanin Asset Management LLC

Montchanin Asset Management LLC cut its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 8.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,728 shares of the information services provider's stock after selling 3,100 shares during the period. Alphabet accounts for about 6.2% of Montchanin Asset Management LLC's portfolio, making the stock its 4th biggest position. Montchanin Asset Management LLC's holdings in Alphabet were worth $6,423,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in GOOG. Cassaday & Co Wealth Management LLC lifted its stake in shares of Alphabet by 9.3% during the 4th quarter. Cassaday & Co Wealth Management LLC now owns 28,044 shares of the information services provider's stock worth $5,341,000 after acquiring an additional 2,390 shares during the last quarter. LaFleur & Godfrey LLC increased its holdings in Alphabet by 1.2% during the 4th quarter. LaFleur & Godfrey LLC now owns 31,967 shares of the information services provider's stock worth $6,088,000 after purchasing an additional 380 shares during the period. Charles Schwab Trust Co increased its holdings in Alphabet by 22.9% during the 4th quarter. Charles Schwab Trust Co now owns 5,259 shares of the information services provider's stock worth $1,002,000 after purchasing an additional 979 shares during the period. Alpha Cubed Investments LLC increased its holdings in Alphabet by 0.3% during the 4th quarter. Alpha Cubed Investments LLC now owns 50,426 shares of the information services provider's stock worth $9,603,000 after purchasing an additional 139 shares during the period. Finally, Transform Wealth LLC increased its holdings in Alphabet by 49.7% during the 4th quarter. Transform Wealth LLC now owns 40,376 shares of the information services provider's stock worth $7,689,000 after purchasing an additional 13,400 shares during the period. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Trading Up 2.6%

Shares of GOOG traded up $4.39 during midday trading on Tuesday, hitting $173.98. 24,270,643 shares of the stock were exchanged, compared to its average volume of 23,056,326. The stock has a fifty day simple moving average of $160.54 and a 200 day simple moving average of $176.49. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $208.70. The firm has a market cap of $2.11 trillion, a P/E ratio of 21.61, a P/E/G ratio of 1.34 and a beta of 1.01.

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 (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.79. The business had revenue of $90.23 billion during the quarter, compared to analysts' expectations of $89.30 billion. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The business's quarterly revenue was up 12.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.89 EPS. On average, research analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be given a dividend of $0.21 per share. This is a positive change from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date is Monday, June 9th. This represents a $0.84 annualized dividend and a yield of 0.48%. Alphabet's payout ratio is 9.36%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Benchmark restated a "negative" rating on shares of Alphabet in a report on Wednesday, February 5th. KeyCorp cut their price target on Alphabet from $202.00 to $185.00 and set an "overweight" rating on the stock in a report on Wednesday, April 9th. Morgan Stanley reiterated an "overweight" rating on shares of Alphabet in a report on Wednesday, February 5th. Citigroup reiterated a "sell" rating on shares of Alphabet in a report on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. lifted their price target on Alphabet from $180.00 to $195.00 and gave the company an "overweight" rating in a report on Friday, April 25th. Three equities research 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. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $203.94.

Insiders Place Their Bets

In other news, Director Kavitark Ram Shriram sold 10,500 shares of the business's stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $1,837,500.00. Following the transaction, the director now owns 261,966 shares of the company's stock, valued at approximately $45,844,050. The trade was a 3.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Amie Thuener O'toole sold 673 shares of Alphabet stock in a transaction that occurred 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 completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 164,654 shares of company stock valued at $26,793,380 over the last quarter. Company insiders own 12.99% of the company's stock.

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.