LGL Partners LLC Sells 100 Shares of Alphabet Inc. (NASDAQ:GOOG)

LGL Partners LLC lowered its position in Alphabet Inc. (NASDAQ:GOOG) by 1.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 5,060 shares of the information services provider’s stock after selling 100 shares during the period. LGL Partners LLC’s holdings in Alphabet were worth $713,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Cranbrook Wealth Management LLC increased its stake in shares of Alphabet by 14.0% during the 4th quarter. Cranbrook Wealth Management LLC now owns 570 shares of the information services provider’s stock valued at $80,000 after acquiring an additional 70 shares during the last quarter. Manchester Financial Inc. increased its position in Alphabet by 3.6% during the 4th quarter. Manchester Financial Inc. now owns 2,124 shares of the information services provider’s stock worth $299,000 after purchasing an additional 74 shares in the last quarter. Atticus Wealth Management LLC increased its position in Alphabet by 1.4% during the 3rd quarter. Atticus Wealth Management LLC now owns 5,262 shares of the information services provider’s stock worth $694,000 after purchasing an additional 75 shares in the last quarter. Congress Park Capital LLC increased its position in Alphabet by 0.3% during the 4th quarter. Congress Park Capital LLC now owns 22,542 shares of the information services provider’s stock worth $3,177,000 after purchasing an additional 76 shares in the last quarter. Finally, Emerald Advisors LLC increased its position in Alphabet by 0.6% during the 4th quarter. Emerald Advisors LLC now owns 13,565 shares of the information services provider’s stock worth $1,912,000 after purchasing an additional 76 shares in the last quarter. Institutional investors own 27.26% of the company’s stock.

Insider Activity at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total value of $2,985,750.00. Following the completion of the transaction, the chief executive officer now owns 2,332,691 shares in the company, valued at approximately $309,548,095.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Alphabet news, CAO Amie Thuener O’toole sold 660 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $143.59, for a total transaction of $94,769.40. Following the completion of the sale, the chief accounting officer now directly owns 27,920 shares in the company, valued at approximately $4,009,032.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total value of $2,985,750.00. Following the sale, the chief executive officer now owns 2,332,691 shares of the company’s stock, valued at $309,548,095.70. The disclosure for this sale can be found here. Insiders sold 253,289 shares of company stock valued at $36,724,534 over the last 90 days. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Stock Performance

GOOG stock opened at $164.64 on Wednesday. Alphabet Inc. has a 12-month low of $104.50 and a 12-month high of $176.42. The company has a current ratio of 2.15, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05. The stock’s 50 day simple moving average is $150.09 and its 200 day simple moving average is $143.16. The firm has a market cap of $2.05 trillion, a P/E ratio of 25.25, a P/E/G ratio of 1.31 and a beta of 1.05.

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 the consensus estimate of $1.51 by $0.38. The firm had revenue of $80.54 billion for the quarter, compared to analyst estimates of $78.75 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The firm’s revenue for the quarter was up 15.4% on a year-over-year basis. During the same period last year, the company earned $1.17 earnings per share. As a group, equities research analysts predict that Alphabet Inc. will post 7.46 EPS for the current year.

Alphabet Dividend Announcement

The company also recently announced a — dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 10th will be paid a dividend of $0.20 per share. The ex-dividend date is Monday, June 10th.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Stifel Nicolaus increased their target price on shares of Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Raymond James increased their target price on shares of Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 24th. Susquehanna upped their price target on Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a report on Wednesday, January 31st. Oppenheimer upped their price target on Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a report on Monday, April 8th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $165.00 target price on shares of Alphabet in a research note on Thursday, April 11th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $165.67.

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.