CGN Advisors LLC Sells 274 Shares of Alphabet Inc. (NASDAQ:GOOG)

CGN Advisors LLC reduced its position in shares of Alphabet Inc. (NASDAQ:GOOGFree Report) by 7.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,356 shares of the information services provider’s stock after selling 274 shares during the period. CGN Advisors LLC’s holdings in Alphabet were worth $511,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Cranbrook Wealth Management LLC lifted its holdings in shares of Alphabet by 14.0% in the 4th quarter. Cranbrook Wealth Management LLC now owns 570 shares of the information services provider’s stock worth $80,000 after acquiring an additional 70 shares during the last quarter. Manchester Financial Inc. lifted its stake in Alphabet by 3.6% in the fourth 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 during the last quarter. Atticus Wealth Management LLC boosted its position in shares of Alphabet by 1.4% during the third quarter. Atticus Wealth Management LLC now owns 5,262 shares of the information services provider’s stock valued at $694,000 after buying an additional 75 shares during the period. Congress Park Capital LLC grew its stake in shares of Alphabet by 0.3% during the fourth quarter. Congress Park Capital LLC now owns 22,542 shares of the information services provider’s stock valued at $3,177,000 after buying an additional 76 shares during the last quarter. Finally, Emerald Advisors LLC raised its holdings in shares of Alphabet by 0.6% in the fourth quarter. Emerald Advisors LLC now owns 13,565 shares of the information services provider’s stock worth $1,912,000 after buying an additional 76 shares during the period. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider John Kent Walker sold 12,084 shares of the stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $151.19, for a total value of $1,826,979.96. Following the sale, the insider now owns 48,717 shares in the company, valued at $7,365,523.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider John Kent Walker sold 12,084 shares of the stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $151.19, for a total transaction of $1,826,979.96. Following the sale, the insider now directly owns 48,717 shares of the company’s stock, valued at $7,365,523.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $154.79, for a total transaction of $105,566.78. Following the sale, the chief accounting officer now owns 29,284 shares in the company, valued at approximately $4,532,870.36. The disclosure for this sale can be found here. In the last quarter, insiders have sold 158,458 shares of company stock worth $26,375,053. 12.99% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently commented on GOOG. Stifel Nicolaus raised their price target 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. Oppenheimer lifted their price target on shares of Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research note on Monday, April 8th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $165.00 price target on shares of Alphabet in a report on Thursday, April 11th. Six analysts have rated the stock with a buy rating, According to MarketBeat, Alphabet presently has an average rating of “Buy” and a consensus price target of $165.67.

Get Our Latest Stock Analysis on Alphabet

Alphabet Stock Up 0.3 %

Alphabet stock traded up $0.53 during midday trading on Monday, reaching $180.79. The company’s stock had a trading volume of 18,177,705 shares, compared to its average volume of 21,453,121. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.15. The stock has a market capitalization of $2.23 trillion, a P/E ratio of 27.73, a PEG ratio of 1.33 and a beta of 1.01. The stock’s 50-day simple moving average is $172.10 and its 200-day simple moving average is $154.41. Alphabet Inc. has a 52-week low of $115.83 and a 52-week high of $182.51.

Alphabet (NASDAQ:GOOGGet Free Report) last released 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 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 was up 15.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.17 EPS. On average, sell-side analysts expect that Alphabet Inc. will post 7.6 EPS for the current year.

Alphabet Announces Dividend

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

Alphabet Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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