Alphabet Inc. (NASDAQ:GOOG) Stock Holdings Trimmed by Blume Capital Management Inc.

Blume Capital Management Inc. trimmed its holdings in Alphabet Inc. (NASDAQ:GOOG) by 4.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 89,274 shares of the information services provider’s stock after selling 3,710 shares during the quarter. Alphabet comprises approximately 3.3% of Blume Capital Management Inc.’s portfolio, making the stock its 5th largest holding. Blume Capital Management Inc.’s holdings in Alphabet were worth $12,581,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. JPMorgan Chase & Co. increased its holdings in Alphabet by 11.3% in the 3rd 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 last quarter. International Assets Investment Management LLC acquired a new stake in Alphabet in the 4th quarter valued at approximately $11,600,970,000. FMR LLC increased its holdings in Alphabet by 3.8% in the 3rd quarter. FMR LLC now owns 120,234,117 shares of the information services provider’s stock valued at $15,852,868,000 after purchasing an additional 4,348,188 shares during the last quarter. Cerity Partners LLC increased its holdings in Alphabet by 198.7% in the 4th 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 during the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in Alphabet by 93.9% in the 4th 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. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Stock Down 1.1 %

Shares of Alphabet stock traded down $1.82 during trading on Wednesday, hitting $171.16. 13,649,296 shares of the stock were exchanged, compared to its average volume of 22,634,053. The stock has a market cap of $2.12 trillion, a price-to-earnings ratio of 26.25, a price-to-earnings-growth ratio of 1.26 and a beta of 1.02. The firm’s 50-day moving average price is $152.74 and its 200 day moving average price is $144.21. Alphabet Inc. has a 12-month low of $107.72 and a 12-month high of $176.42. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.15.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.51 by $0.38. The business had revenue of $80.54 billion during the quarter, compared to analysts’ expectations of $78.75 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The company’s revenue for the quarter was up 15.4% on a year-over-year basis. During the same period in the previous year, the company earned $1.17 EPS. As a group, analysts forecast that Alphabet Inc. will post 7.66 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently disclosed a — dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 10th will be given a dividend of $0.20 per share. The ex-dividend date is Monday, June 10th.

Analysts Set New Price Targets

Several analysts recently weighed in on GOOG shares. 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. Raymond James raised their price target 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. Morgan Stanley reissued an “overweight” rating and issued a $165.00 price target on shares of Alphabet in a research report on Thursday, April 11th. Susquehanna raised their price target on shares of Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a research report on Wednesday, January 31st. Finally, Oppenheimer raised their price target on shares of Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research report on Monday, April 8th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Alphabet has a consensus rating of “Buy” and an average price target of $165.67.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction on 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 directly owns 28,602 shares of the company’s stock, valued at $3,903,886.98. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction on Monday, March 4th. The shares were sold at an average price of $136.49, for a total value of $93,086.18. Following the transaction, the chief accounting officer now directly owns 28,602 shares in the company, valued at $3,903,886.98. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Prabhakar Raghavan sold 3,258 shares of Alphabet stock in a transaction on 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 transaction, the senior vice president now owns 144,685 shares in the company, valued at $22,566,519.45. The disclosure for this sale can be found here. Insiders sold a total of 252,629 shares of company stock valued at $37,091,240 over the last ninety days. 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.