Measured Wealth Private Client Group LLC Cuts Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Measured Wealth Private Client Group LLC trimmed its position in Alphabet Inc. (NASDAQ:GOOG) by 21.3% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 2,401 shares of the information services provider’s stock after selling 649 shares during the period. Measured Wealth Private Client Group LLC’s holdings in Alphabet were worth $338,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of GOOG. JPMorgan Chase & Co. lifted its stake in shares of Alphabet by 11.3% in the third quarter. JPMorgan Chase & Co. now owns 95,941,129 shares of the information services provider’s stock valued at $12,649,838,000 after purchasing an additional 9,703,425 shares during the period. International Assets Investment Management LLC purchased a new position in Alphabet during the 4th quarter valued at about $11,600,970,000. FMR LLC raised its position in Alphabet by 3.8% during the third quarter. FMR LLC now owns 120,234,117 shares of the information services provider’s stock worth $15,852,868,000 after acquiring an additional 4,348,188 shares during the last quarter. Cerity Partners LLC lifted its holdings in shares of Alphabet by 198.7% in the fourth quarter. Cerity Partners LLC now owns 3,882,882 shares of the information services provider’s stock valued at $547,215,000 after purchasing an additional 2,583,128 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its position in shares of Alphabet by 93.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 4,591,383 shares of the information services provider’s stock valued at $647,064,000 after purchasing an additional 2,222,950 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insider Buying and Selling

In related news, CFO Ruth Porat sold 48,077 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $137.22, for a total value of $6,597,125.94. Following the sale, the chief financial officer now owns 1,777,106 shares of the company’s stock, valued at approximately $243,854,485.32. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CFO Ruth Porat sold 48,077 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $137.22, for a total value of $6,597,125.94. Following the sale, the chief financial officer now directly owns 1,777,106 shares in the company, valued at approximately $243,854,485.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $136.49, for a total transaction of $93,086.18. Following the sale, the chief accounting officer now owns 28,602 shares in the company, valued at $3,903,886.98. The disclosure for this sale can be found here. Insiders have sold a total of 275,129 shares of company stock worth $40,382,765 over the last quarter. 12.99% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on GOOG shares. Oppenheimer increased their target price on Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a report on Monday, April 8th. Morgan Stanley restated an “overweight” rating and issued a $165.00 price objective on shares of Alphabet in a report on Thursday, April 11th. Stifel Nicolaus lifted their price target 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. Susquehanna upped their price target on shares of Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a research report on Wednesday, January 31st. Finally, Raymond James raised their price objective on Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a research report on Wednesday, January 24th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $165.67.

Alphabet Stock Up 0.3 %

Shares of NASDAQ GOOG traded up $0.53 during midday trading on Friday, reaching $168.99. 22,767,056 shares of the company’s stock were exchanged, compared to its average volume of 22,353,938. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.15. Alphabet Inc. has a 52-week low of $104.70 and a 52-week high of $176.42. The business’s fifty day moving average price is $151.46 and its two-hundred day moving average price is $143.74. The stock has a market capitalization of $2.10 trillion, a PE ratio of 25.92, a price-to-earnings-growth ratio of 1.26 and a beta of 1.02.

Alphabet (NASDAQ:GOOG) last announced 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 during the quarter, compared to analyst estimates of $78.75 billion. During the same period last year, the business earned $1.17 EPS. The firm’s revenue for the quarter was up 15.4% compared to the same quarter last year. Analysts forecast that Alphabet Inc. will post 7.66 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently declared a — dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 10th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Monday, June 10th.

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.