Concourse Financial Group Securities Inc. Has $3.46 Million Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Concourse Financial Group Securities Inc. lessened its holdings in Alphabet Inc. (NASDAQ:GOOG) by 0.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 22,725 shares of the information services provider’s stock after selling 194 shares during the quarter. Concourse Financial Group Securities Inc.’s holdings in Alphabet were worth $3,460,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of GOOG. Prosperity Consulting Group LLC grew its holdings in shares of Alphabet by 16.6% during the 1st quarter. Prosperity Consulting Group LLC now owns 16,836 shares of the information services provider’s stock valued at $2,564,000 after purchasing an additional 2,401 shares during the last quarter. Avior Wealth Management LLC increased its holdings in shares of Alphabet by 30.0% during the first quarter. Avior Wealth Management LLC now owns 26,886 shares of the information services provider’s stock worth $4,094,000 after buying an additional 6,211 shares in the last quarter. DORCHESTER WEALTH MANAGEMENT Co lifted its stake in shares of Alphabet by 0.8% in the 1st quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 96,476 shares of the information services provider’s stock valued at $14,689,000 after acquiring an additional 780 shares during the last quarter. ORBA Wealth Advisors L.L.C. boosted its holdings in shares of Alphabet by 8.7% during the 1st quarter. ORBA Wealth Advisors L.L.C. now owns 18,840 shares of the information services provider’s stock valued at $2,869,000 after acquiring an additional 1,500 shares in the last quarter. Finally, Bridgewater Advisors Inc. boosted its holdings in shares of Alphabet by 2.4% during the 1st quarter. Bridgewater Advisors Inc. now owns 30,707 shares of the information services provider’s stock valued at $4,675,000 after acquiring an additional 721 shares in the last quarter. Institutional investors own 27.26% of the company’s stock.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $166.67, for a total transaction of $113,668.94. Following the transaction, the chief accounting officer now owns 29,284 shares in the company, valued at approximately $4,880,764.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director John L. Hennessy sold 800 shares of the business’s stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $159.56, for a total transaction of $127,648.00. Following the completion of the sale, the director now owns 7,991 shares in the company, valued at $1,275,043.96. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $166.67, for a total value of $113,668.94. Following the transaction, the chief accounting officer now directly owns 29,284 shares in the company, valued at $4,880,764.28. The disclosure for this sale can be found here. Insiders sold a total of 146,288 shares of company stock valued at $25,345,053 in the last quarter. 12.99% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Rosenblatt Securities downgraded Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price for the company. in a research report on Friday, June 28th. Morgan Stanley reiterated an “overweight” rating and set a $165.00 target price on shares of Alphabet in a research report on Thursday, April 11th. Oppenheimer upped 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. Finally, Stifel Nicolaus boosted their price objective on shares of Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $167.86.

Alphabet Trading Up 2.4 %

Shares of GOOG traded up $4.57 during trading hours on Friday, hitting $191.96. 14,303,361 shares of the stock were exchanged, compared to its average volume of 15,944,221. The firm has a market capitalization of $2.37 trillion, a P/E ratio of 29.44, a price-to-earnings-growth ratio of 1.41 and a beta of 1.05. 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 Inc. has a fifty-two week low of $115.83 and a fifty-two week high of $192.26. The business has a 50-day moving average of $176.95 and a 200-day moving average of $157.38.

Alphabet (NASDAQ:GOOG) last posted 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 return on equity of 29.52% and a net margin of 25.90%. The firm had revenue of $80.54 billion during the quarter, compared to analyst estimates of $78.75 billion. During the same period last year, the company posted $1.17 EPS. The business’s quarterly revenue was up 15.4% on a year-over-year basis. On average, research analysts expect that Alphabet Inc. will post 7.6 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently declared a — dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 10th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, June 10th. Alphabet’s payout ratio is 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.