McClarren Financial Advisors Inc. Sells 535 Shares of Alphabet Inc. (NASDAQ:GOOG)

McClarren Financial Advisors Inc. reduced its stake in Alphabet Inc. (NASDAQ:GOOG) by 30.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,219 shares of the information services provider’s stock after selling 535 shares during the period. McClarren Financial Advisors Inc.’s holdings in Alphabet were worth $186,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Veracity Capital LLC increased its holdings in Alphabet by 12.4% in the 4th quarter. Veracity Capital LLC now owns 10,597 shares of the information services provider’s stock worth $1,493,000 after buying an additional 1,173 shares in the last quarter. Independence Bank of Kentucky boosted its holdings in shares of Alphabet by 25.3% during the 4th quarter. Independence Bank of Kentucky now owns 6,093 shares of the information services provider’s stock valued at $859,000 after acquiring an additional 1,230 shares during the last quarter. Park Avenue Securities LLC grew its stake in shares of Alphabet by 11.9% in the first quarter. Park Avenue Securities LLC now owns 109,878 shares of the information services provider’s stock worth $16,730,000 after acquiring an additional 11,646 shares during the period. Strategic Blueprint LLC raised its holdings in shares of Alphabet by 36.7% during the fourth quarter. Strategic Blueprint LLC now owns 15,068 shares of the information services provider’s stock valued at $2,123,000 after purchasing an additional 4,044 shares during the last quarter. Finally, Investment Partners LTD. lifted its position in Alphabet by 5.8% during the fourth quarter. Investment Partners LTD. now owns 7,446 shares of the information services provider’s stock valued at $1,049,000 after purchasing an additional 410 shares during the period. 27.26% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. TD Cowen lifted their target price on shares of Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Wednesday. Oppenheimer lifted their price objective on Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a report on Monday, April 8th. Morgan Stanley reissued an “overweight” rating and issued a $165.00 target price on shares of Alphabet in a report on Thursday, April 11th. Rosenblatt Securities downgraded Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target for the company. in a research note on Friday, June 28th. Finally, Stifel Nicolaus upped 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 research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and a consensus target price of $174.38.

Alphabet Stock Performance

Shares of GOOG stock traded down $5.36 during trading hours on Thursday, reaching $187.30. 16,401,459 shares of the company traded hands, compared to its average volume of 20,755,641. The firm has a 50-day moving average price of $178.46 and a 200 day moving average price of $158.56. The company has a market cap of $2.31 trillion, a P/E ratio of 28.72, a P/E/G ratio of 1.43 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 12-month low of $118.68 and a 12-month high of $193.31.

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. The business 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%. The company’s revenue for the quarter was up 15.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.17 earnings per share. As a group, sell-side analysts predict that Alphabet Inc. will post 7.6 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently declared a — dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 10th were paid a $0.20 dividend. The ex-dividend date was Monday, June 10th. Alphabet’s payout ratio is presently 12.27%.

Insider Buying and Selling at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $157.41, for a total transaction of $3,541,725.00. Following the completion of the sale, the chief executive officer now owns 2,303,011 shares in the company, valued at $362,516,961.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $157.41, for a total transaction of $3,541,725.00. Following the completion of the transaction, the chief executive officer now owns 2,303,011 shares in the company, valued at $362,516,961.51. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Prabhakar Raghavan sold 3,262 shares of the firm’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $183.99, for a total transaction of $600,175.38. Following the transaction, the senior vice president now directly owns 9 shares of the company’s stock, valued at $1,655.91. The disclosure for this sale can be found here. Insiders have sold a total of 146,288 shares of company stock valued at $25,345,053 over the last ninety days. 12.99% of the stock is currently owned by company insiders.

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.