Founders Capital Management LLC Trims Stake in Alphabet Inc. (NASDAQ:GOOG)

Founders Capital Management LLC lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.9% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 465,335 shares of the information services provider’s stock after selling 4,380 shares during the quarter. Alphabet makes up 13.1% of Founders Capital Management LLC’s portfolio, making the stock its biggest position. Founders Capital Management LLC’s holdings in Alphabet were worth $70,852,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Partnership Wealth Management LLC acquired a new stake in Alphabet during the 4th quarter worth $26,000. Bruce G. Allen Investments LLC bought a new position in Alphabet during the fourth quarter worth about $26,000. Tandem Wealth Advisors LLC bought a new stake in shares of Alphabet during the third quarter worth approximately $25,000. Equitec Proprietary Markets LLC bought a new stake in shares of Alphabet during the fourth quarter worth approximately $28,000. Finally, DiNuzzo Private Wealth Inc. acquired a new stake in shares of Alphabet in the fourth quarter valued at approximately $32,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ:GOOG traded down $3.26 during trading on Tuesday, hitting $164.64. 29,398,761 shares of the company were exchanged, compared to its average volume of 22,876,967. The business’s 50 day moving average is $150.09 and its 200-day moving average is $143.16. The company has a market capitalization of $2.05 trillion, a P/E ratio of 25.25, a price-to-earnings-growth ratio of 1.59 and a beta of 1.05. The company has a quick ratio of 2.10, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 1-year low of $104.50 and a 1-year high of $176.42.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.51 by $0.38. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The company had revenue of $80.54 billion for the quarter, compared to analysts’ expectations of $78.75 billion. During the same quarter in the previous year, the firm posted $1.17 earnings per share. Alphabet’s revenue for the quarter was up 15.4% on a year-over-year basis. Equities analysts forecast that Alphabet Inc. will post 6.8 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently disclosed 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 is Monday, June 10th.

Analysts Set New Price Targets

Several brokerages have commented on GOOG. Raymond James boosted their price objective on shares of Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a research report on Wednesday, January 24th. Stifel Nicolaus boosted their price objective on shares of Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Morgan Stanley reiterated an “overweight” rating and set a $165.00 price target on shares of Alphabet in a report on Thursday, April 11th. Oppenheimer upped their price target on shares of Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a report on Monday, April 8th. Finally, Susquehanna upped their price target on shares of Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a report on Wednesday, January 31st. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $165.67.

Insider Buying and Selling

In related news, Director John L. Hennessy sold 300 shares of the business’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $139.51, for a total value of $41,853.00. Following the sale, the director now owns 9,291 shares of the company’s stock, valued at $1,296,187.41. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Alphabet news, Director John L. Hennessy sold 500 shares of the company’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $149.50, for a total transaction of $74,750.00. Following the sale, the director now owns 8,791 shares of the company’s stock, valued at $1,314,254.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 300 shares of the company’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $139.51, for a total transaction of $41,853.00. Following the sale, the director now directly owns 9,291 shares in the company, valued at approximately $1,296,187.41. The disclosure for this sale can be found here. Insiders have sold a total of 253,289 shares of company stock valued at $36,724,534 over the last 90 days. 12.99% of the stock is owned by insiders.

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.