Alphabet Inc. (NASDAQ:GOOG) Stock Position Reduced by Ellerson Group Inc. ADV

Ellerson Group Inc. ADV lowered its stake in Alphabet Inc. (NASDAQ:GOOG) by 7.5% during the 4th quarter, Holdings Channel reports. The firm owned 28,994 shares of the information services provider’s stock after selling 2,350 shares during the quarter. Alphabet makes up about 3.5% of Ellerson Group Inc. ADV’s holdings, making the stock its 8th biggest position. Ellerson Group Inc. ADV’s holdings in Alphabet were worth $4,086,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Tandem Wealth Advisors LLC purchased a new stake in shares of Alphabet during the 3rd quarter valued at about $25,000. Bruce G. Allen Investments LLC purchased a new stake in shares of Alphabet during the 4th quarter valued at about $26,000. Equitec Proprietary Markets LLC purchased a new stake in shares of Alphabet during the 4th quarter valued at about $28,000. Buck Wealth Strategies LLC purchased a new stake in shares of Alphabet during the 3rd quarter valued at about $32,000. Finally, Barometer Capital Management Inc. purchased a new stake in shares of Alphabet during the 3rd quarter valued at about $32,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $132.70, for a total transaction of $2,985,750.00. Following the transaction, the chief executive officer now directly owns 2,332,691 shares in the company, valued at $309,548,095.70. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director John L. Hennessy sold 2,100 shares of the stock in a transaction that occurred on 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 directly owns 5,891 shares in the company, valued at $1,035,402.16. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $132.70, for a total transaction of $2,985,750.00. Following the transaction, the chief executive officer now owns 2,332,691 shares in the company, valued at $309,548,095.70. The disclosure for this sale can be found here. Insiders have sold 275,129 shares of company stock worth $40,382,765 in the last three months. Corporate insiders own 12.99% of the company’s stock.

Alphabet Trading Up 0.3 %

GOOG stock traded up $0.53 during mid-day trading on Friday, reaching $168.99. The company had a trading volume of 22,767,056 shares, compared to its average volume of 22,353,938. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.10. The company has a market capitalization of $2.10 trillion, a PE ratio of 25.92, a price-to-earnings-growth ratio of 1.26 and a beta of 1.02. The firm has a 50 day moving average of $151.46 and a 200 day moving average of $143.74. Alphabet Inc. has a 12 month low of $104.70 and a 12 month high of $176.42.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, topping analysts’ consensus estimates 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% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.17 EPS. On average, equities analysts predict that Alphabet Inc. will post 7.66 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently announced a — dividend, which will be paid on Monday, June 17th. Shareholders 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

Several equities analysts recently commented on the stock. Morgan Stanley reiterated an “overweight” rating and set a $165.00 price target on shares of Alphabet in a report on Thursday, April 11th. Oppenheimer upped their price target on shares of Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a report on Monday, April 8th. Raymond James upped their price target on shares of Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a report on Wednesday, January 24th. Susquehanna upped their price target on shares of Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a report on Wednesday, January 31st. 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 report on Tuesday, April 16th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Alphabet presently has a consensus rating of “Buy” and a consensus target price of $165.67.

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.