Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Welch Capital Partners LLC NY

Welch Capital Partners LLC NY reduced its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 164,513 shares of the information services provider’s stock after selling 879 shares during the quarter. Alphabet accounts for approximately 6.2% of Welch Capital Partners LLC NY’s investment portfolio, making the stock its 4th biggest holding. Welch Capital Partners LLC NY’s holdings in Alphabet were worth $23,185,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. JPMorgan Chase & Co. raised 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 acquiring an additional 9,703,425 shares during the period. International Assets Investment Management LLC acquired a new stake in Alphabet during the 4th quarter worth approximately $11,600,970,000. FMR LLC grew 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 buying an additional 4,348,188 shares in the last quarter. Cerity Partners LLC increased its position in Alphabet by 198.7% during the 4th quarter. Cerity Partners LLC now owns 3,882,882 shares of the information services provider’s stock worth $547,215,000 after buying an additional 2,583,128 shares during the period. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Alphabet by 93.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 4,591,383 shares of the information services provider’s stock worth $647,064,000 after buying an additional 2,222,950 shares in the last quarter. Institutional investors own 27.26% of the company’s stock.

Alphabet Stock Up 0.6 %

Shares of NASDAQ GOOG opened at $165.57 on Thursday. Alphabet Inc. has a 12-month low of $104.50 and a 12-month high of $176.42. The company has a quick ratio of 2.10, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. The firm has a market cap of $2.06 trillion, a PE ratio of 25.39, a P/E/G ratio of 1.23 and a beta of 1.02. The company’s fifty day simple moving average is $150.52 and its 200 day simple moving average is $143.31.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $78.75 billion. 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 earned $1.17 earnings per share. As a group, sell-side analysts forecast that Alphabet Inc. will post 7.66 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research firms recently commented on GOOG. Oppenheimer raised their price target 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. Stifel Nicolaus lifted 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. Morgan Stanley reiterated an “overweight” rating and issued a $165.00 price target on shares of Alphabet in a research note on Thursday, April 11th. Raymond James raised their price objective on Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 24th. Finally, Susquehanna increased their target price on Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a report on Wednesday, January 31st. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, Alphabet currently has an average rating of “Buy” and an average price target of $165.67.

Insider Activity at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $146.29, for a total value of $3,291,525.00. Following the transaction, the chief executive officer now owns 2,377,691 shares in the company, valued at approximately $347,832,416.39. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $146.29, for a total transaction of $3,291,525.00. Following the sale, the chief executive officer now directly owns 2,377,691 shares in the company, valued at approximately $347,832,416.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John L. Hennessy sold 2,100 shares of the stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $175.76, for a total transaction of $369,096.00. Following the transaction, the director now owns 5,891 shares of the company’s stock, valued at approximately $1,035,402.16. The disclosure for this sale can be found here. In the last three months, insiders sold 275,129 shares of company stock valued at $40,382,765. 12.99% of the stock is owned by insiders.

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.