N.E.W. Advisory Services LLC Sells 252 Shares of Alphabet Inc. (NASDAQ:GOOG)

N.E.W. Advisory Services LLC lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 8.9% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 2,565 shares of the information services provider’s stock after selling 252 shares during the period. N.E.W. Advisory Services LLC’s holdings in Alphabet were worth $361,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Veracity Capital LLC boosted its holdings in Alphabet by 12.4% in the fourth quarter. Veracity Capital LLC now owns 10,597 shares of the information services provider’s stock valued at $1,493,000 after acquiring an additional 1,173 shares during the last quarter. Independence Bank of Kentucky boosted its stake in shares of Alphabet by 25.3% in the 4th quarter. Independence Bank of Kentucky now owns 6,093 shares of the information services provider’s stock valued at $859,000 after purchasing an additional 1,230 shares during the last quarter. Washington Trust Bank grew its position in shares of Alphabet by 33.0% during the 3rd quarter. Washington Trust Bank now owns 7,359 shares of the information services provider’s stock worth $970,000 after buying an additional 1,826 shares during the period. CNB Bank raised its stake in shares of Alphabet by 6.6% during the third quarter. CNB Bank now owns 27,723 shares of the information services provider’s stock worth $3,655,000 after buying an additional 1,710 shares during the last quarter. Finally, Sloy Dahl & Holst LLC lifted its holdings in Alphabet by 1.9% in the third quarter. Sloy Dahl & Holst LLC now owns 8,238 shares of the information services provider’s stock valued at $1,086,000 after buying an additional 155 shares during the period. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Alphabet

In other Alphabet news, Director John L. Hennessy sold 300 shares of the business’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $139.51, for a total transaction of $41,853.00. Following the sale, the director now directly owns 9,291 shares of the company’s stock, valued at approximately $1,296,187.41. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Alphabet news, Director John L. Hennessy sold 300 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $139.51, for a total value of $41,853.00. Following the completion of the transaction, the director now directly owns 9,291 shares in the company, valued at $1,296,187.41. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $166.80, for a total value of $3,753,000.00. Following the sale, the chief executive officer now owns 2,280,511 shares in the company, valued at approximately $380,389,234.80. The disclosure for this sale can be found here. Insiders have sold a total of 275,129 shares of company stock valued at $40,382,765 over the last 90 days. 12.99% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have commented on GOOG shares. Oppenheimer lifted their target price on shares of Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a report on Monday, April 8th. Raymond James boosted their target price on Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 24th. Stifel Nicolaus increased 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. Susquehanna boosted 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, Morgan Stanley reaffirmed an “overweight” rating and set a $165.00 price objective on shares of Alphabet in a research note on Thursday, April 11th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $165.67.

Alphabet Stock Up 1.9 %

Shares of GOOG stock traded up $3.15 during trading hours on Tuesday, hitting $172.98. 21,087,028 shares of the company were exchanged, compared to its average volume of 22,735,842. Alphabet Inc. has a 52 week low of $105.79 and a 52 week high of $176.42. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05. The business has a 50 day moving average of $152.74 and a two-hundred day moving average of $144.21. The company has a market capitalization of $2.14 trillion, a PE ratio of 26.53, a PEG ratio of 1.26 and a beta of 1.02.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.51 by $0.38. The company 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 company’s quarterly revenue was up 15.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.17 earnings per share. Analysts anticipate that Alphabet Inc. will post 7.66 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

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

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.