Financial Advocates Investment Management trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 13.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 53,781 shares of the information services provider's stock after selling 8,596 shares during the period. Financial Advocates Investment Management's holdings in Alphabet were worth $7,572,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Brickley Wealth Management purchased a new stake in Alphabet during the 3rd quarter worth about $204,000. Bordeaux Wealth Advisors LLC increased its stake in Alphabet by 11.2% in the third quarter. Bordeaux Wealth Advisors LLC now owns 294,466 shares of the information services provider's stock valued at $38,825,000 after purchasing an additional 29,668 shares during the last quarter. Meitav Investment House Ltd. raised its holdings in Alphabet by 18.0% during the third quarter. Meitav Investment House Ltd. now owns 387,935 shares of the information services provider's stock worth $51,784,000 after purchasing an additional 59,233 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. lifted its position in shares of Alphabet by 2.4% during the 3rd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 107,563 shares of the information services provider's stock worth $14,196,000 after buying an additional 2,510 shares during the last quarter. Finally, Grove Bank & Trust boosted its holdings in shares of Alphabet by 7.8% in the 3rd quarter. Grove Bank & Trust now owns 39,248 shares of the information services provider's stock valued at $5,175,000 after buying an additional 2,855 shares in the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.
Alphabet Stock Performance
NASDAQ:GOOG traded up $1.86 during midday trading on Friday, reaching $177.29. The stock had a trading volume of 16,546,353 shares, compared to its average volume of 22,773,608. The stock has a market cap of $2.19 trillion, a P/E ratio of 27.19, a P/E/G ratio of 1.31 and a beta of 1.02. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 12-month low of $115.83 and a 12-month high of $177.49. The firm has a fifty day simple moving average of $158.64 and a two-hundred day simple moving average of $146.56.
Alphabet (NASDAQ:GOOG - Get Free Report) last issued its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.51 by $0.38. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The business had revenue of $80.54 billion for the quarter, compared to analyst estimates of $78.75 billion. During the same period in the previous year, the business posted $1.17 earnings per share. The business's revenue was up 15.4% compared to the same quarter last year. On average, equities analysts expect that Alphabet Inc. will post 7.64 EPS for the current year.
Alphabet Dividend Announcement
The firm also recently declared a -- dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 10th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Monday, June 10th.
Analysts Set New Price Targets
GOOG has been the subject of several research analyst reports. Susquehanna upped their price objective on shares of Alphabet from $150.00 to $170.00 and gave the company a "positive" rating in a research note on Wednesday, January 31st. Morgan Stanley reaffirmed an "overweight" rating and set a $165.00 price target on shares of Alphabet in a research report on Thursday, April 11th. Raymond James increased their price objective on Alphabet from $150.00 to $160.00 and gave the company an "outperform" rating in a report on Wednesday, January 24th. Stifel Nicolaus lifted their target price on shares of Alphabet from $154.00 to $174.00 and gave the company a "buy" rating in a report on Tuesday, April 16th. Finally, Oppenheimer increased their price target on shares of Alphabet from $172.00 to $185.00 and gave the stock an "outperform" rating in a research note on Monday, April 8th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $165.67.
Check Out Our Latest Research Report on Alphabet
Insider Buying and Selling
In related news, CAO Amie Thuener O'toole sold 682 shares of the firm's stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $136.49, for a total value of $93,086.18. Following the completion of the sale, the chief accounting officer now owns 28,602 shares in the company, valued at $3,903,886.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CAO Amie Thuener O'toole sold 682 shares of the firm's stock in a transaction on Monday, March 4th. The stock was sold at an average price of $136.49, for a total value of $93,086.18. Following the completion of the transaction, the chief accounting officer now owns 28,602 shares in the company, valued at $3,903,886.98. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Prabhakar Raghavan sold 3,258 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $155.97, for a total transaction of $508,150.26. Following the completion of the sale, the senior vice president now directly owns 144,685 shares in the company, valued at $22,566,519.45. The disclosure for this sale can be found here. Insiders have sold 276,511 shares of company stock valued at $41,234,695 over the last quarter. Company insiders own 12.99% of the company's stock.
About Alphabet
(
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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