Conservest Capital Advisors Inc. Has $823,000 Stake in Alphabet Inc. (NASDAQ:GOOG)

Conservest Capital Advisors Inc. trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 7.5% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 5,408 shares of the information services provider’s stock after selling 440 shares during the quarter. Conservest Capital Advisors Inc.’s holdings in Alphabet were worth $823,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GOOG. Tudor Investment Corp Et Al bought a new stake in shares of Alphabet in the 3rd quarter valued at about $4,899,000. Hohimer Wealth Management LLC bought a new stake in Alphabet during the third quarter worth $311,000. Brown Shipley& Co Ltd lifted its position in shares of Alphabet by 3.9% during the 3rd quarter. Brown Shipley& Co Ltd now owns 90,912 shares of the information services provider’s stock worth $11,987,000 after buying an additional 3,399 shares during the last quarter. Carlson Capital Management boosted its stake in shares of Alphabet by 5.1% in the 3rd quarter. Carlson Capital Management now owns 11,469 shares of the information services provider’s stock valued at $1,512,000 after purchasing an additional 552 shares in the last quarter. Finally, Braun Stacey Associates Inc. grew its stake in shares of Alphabet by 4.4% during the third quarter. Braun Stacey Associates Inc. now owns 261,637 shares of the information services provider’s stock worth $34,497,000 after buying an additional 11,075 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Stock Up 0.6 %

Alphabet stock traded up $1.07 during trading hours on Tuesday, hitting $191.55. 4,389,849 shares of the stock traded hands, compared to its average volume of 20,811,193. The company has a market cap of $2.37 trillion, a PE ratio of 29.43, a PEG ratio of 1.44 and a beta of 1.05. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a one year low of $115.83 and a one year high of $192.86. The firm’s 50-day moving average price is $177.40 and its two-hundred day moving average price is $157.98.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, beating the consensus estimate 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 net margin of 25.90% and a return on equity of 29.52%. Alphabet’s revenue for the quarter was up 15.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.17 EPS. On average, research analysts forecast that Alphabet Inc. will post 7.6 EPS for the current year.

Alphabet Dividend Announcement

The company also recently disclosed a — dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 10th were issued a $0.20 dividend. The ex-dividend date was Monday, June 10th. Alphabet’s payout ratio is currently 12.27%.

Insider Activity at Alphabet

In other Alphabet news, SVP Prabhakar Raghavan sold 3,262 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $183.99, for a total value of $600,175.38. Following the completion of the transaction, the senior vice president now owns 9 shares of the company’s stock, valued at approximately $1,655.91. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Alphabet news, Director John L. Hennessy sold 800 shares of the company’s stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $159.56, for a total value of $127,648.00. Following the completion of the transaction, the director now directly owns 7,991 shares in the company, valued at $1,275,043.96. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Prabhakar Raghavan sold 3,262 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $183.99, for a total value of $600,175.38. Following the sale, the senior vice president now directly owns 9 shares in the company, valued at $1,655.91. The disclosure for this sale can be found here. In the last three months, insiders have sold 146,288 shares of company stock valued at $25,345,053. 12.99% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on GOOG shares. Rosenblatt Securities lowered 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 reissued an “overweight” rating and issued a $165.00 price objective on shares of Alphabet in a research note on Thursday, April 11th. Oppenheimer boosted their target price on shares of Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research report on Monday, April 8th. Finally, Stifel Nicolaus raised 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. One 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 company presently has an average rating of “Moderate Buy” and an average target price of $167.86.

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.