Alphabet Inc. (NASDAQ:GOOG) Shares Sold by CGN Advisors LLC

CGN Advisors LLC cut its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 7.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,356 shares of the information services provider’s stock after selling 274 shares during the quarter. CGN Advisors LLC’s holdings in Alphabet were worth $511,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Partnership Wealth Management LLC acquired a new stake in Alphabet in the fourth quarter valued at $26,000. Bruce G. Allen Investments LLC purchased a new stake in shares of Alphabet in the 4th quarter worth about $26,000. Equitec Proprietary Markets LLC acquired a new stake in Alphabet in the 4th quarter valued at about $28,000. DiNuzzo Private Wealth Inc. purchased a new position in Alphabet during the 4th quarter valued at about $32,000. Finally, Richardson Financial Services Inc. acquired a new position in Alphabet during the fourth quarter worth about $34,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on GOOG shares. Morgan Stanley reiterated an “overweight” rating and issued a $165.00 price target on shares of Alphabet in a research report on Thursday, April 11th. Oppenheimer upped their target price on Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research note on Monday, April 8th. Finally, Stifel Nicolaus raised their price target on Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Alphabet has a consensus rating of “Buy” and an average target price of $165.67.

Insider Buying and Selling

In related news, Director John L. Hennessy sold 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $177.92, for a total value of $266,880.00. Following the sale, the director now directly owns 3,727 shares of the company’s stock, valued at $663,107.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Alphabet news, Director John L. Hennessy sold 1,500 shares of the stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $177.92, for a total transaction of $266,880.00. Following the transaction, the director now owns 3,727 shares of the company’s stock, valued at $663,107.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $154.79, for a total transaction of $105,566.78. Following the sale, the chief accounting officer now directly owns 29,284 shares of the company’s stock, valued at $4,532,870.36. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 158,458 shares of company stock worth $26,375,053. 12.99% of the stock is owned by company insiders.

Alphabet Trading Up 0.3 %

Shares of NASDAQ:GOOG traded up $0.53 during trading on Monday, reaching $180.79. The stock had a trading volume of 18,177,705 shares, compared to its average volume of 21,453,121. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. The stock has a market cap of $2.23 trillion, a P/E ratio of 27.73, a PEG ratio of 1.33 and a beta of 1.01. The business has a fifty day moving average price of $172.10 and a 200-day moving average price of $154.41. Alphabet Inc. has a fifty-two week low of $115.83 and a fifty-two week high of $182.51.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.51 by $0.38. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The company had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $78.75 billion. During the same period in the previous year, the firm posted $1.17 EPS. Alphabet’s revenue was up 15.4% on a year-over-year basis. As a group, analysts anticipate that Alphabet Inc. will post 7.6 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced a — dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 10th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, June 10th. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

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.