Nicholas Hoffman & Company LLC. Reduces Position in Alphabet Inc. (NASDAQ:GOOG)

Nicholas Hoffman & Company LLC. lowered its position in Alphabet Inc. (NASDAQ:GOOG) by 1.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 22,064 shares of the information services provider’s stock after selling 259 shares during the quarter. Nicholas Hoffman & Company LLC.’s holdings in Alphabet were worth $3,359,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Partnership Wealth Management LLC purchased a new stake in Alphabet during the 4th quarter valued at approximately $26,000. Bruce G. Allen Investments LLC acquired a new stake in shares of Alphabet during the fourth quarter worth $26,000. Tandem Wealth Advisors LLC purchased a new position in Alphabet in the 3rd quarter valued at $25,000. Equitec Proprietary Markets LLC acquired a new position in Alphabet in the 4th quarter valued at $28,000. Finally, DiNuzzo Private Wealth Inc. purchased a new position in Alphabet during the 4th quarter worth $32,000. 27.26% of the stock is owned by institutional investors and hedge funds.

Alphabet Price Performance

Shares of NASDAQ:GOOG traded down $3.26 during trading on Tuesday, hitting $164.64. 29,398,761 shares of the stock were exchanged, compared to its average volume of 22,876,967. The company has a market cap of $2.05 trillion, a PE ratio of 25.25, a P/E/G ratio of 1.59 and a beta of 1.05. The company has a current ratio of 2.15, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05. The company has a fifty day moving average price of $150.09 and a two-hundred day moving average price of $143.16. Alphabet Inc. has a 12-month low of $104.50 and a 12-month high of $176.42.

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

Alphabet Announces Dividend

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.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Alphabet

In other Alphabet news, Director John L. Hennessy sold 2,100 shares of the company’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $175.76, for a total value of $369,096.00. Following the sale, the director now owns 5,891 shares of the company’s stock, valued at $1,035,402.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director John L. Hennessy sold 2,100 shares of the company’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $175.76, for a total value of $369,096.00. Following the sale, the director now directly owns 5,891 shares in the company, valued at $1,035,402.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 660 shares of Alphabet stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $143.59, for a total value of $94,769.40. Following the sale, the chief accounting officer now owns 27,920 shares of the company’s stock, valued at approximately $4,009,032.80. The disclosure for this sale can be found here. In the last three months, insiders sold 253,289 shares of company stock worth $36,724,534. 12.99% of the stock is owned by corporate insiders.

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.