Foundations Investment Advisors LLC Cuts Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Foundations Investment Advisors LLC trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOGFree Report) by 7.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,802 shares of the information services provider’s stock after selling 1,598 shares during the quarter. Foundations Investment Advisors LLC’s holdings in Alphabet were worth $2,969,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Susquehanna boosted their price target on shares of Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a report on Wednesday, January 31st. Oppenheimer upped 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 upped their target price on shares of Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a report on Wednesday, January 24th. Morgan Stanley reaffirmed an “overweight” rating and set a $165.00 target price on shares of Alphabet in a report on Thursday, April 11th. Finally, Stifel Nicolaus upped their target price on shares of Alphabet from $154.00 to $174.00 and gave the stock 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, the company has an average rating of “Buy” and an average target price of $165.67.

Get Our Latest Report on GOOG

Insider Buying and Selling at Alphabet

In other Alphabet news, Director John L. Hennessy sold 2,100 shares of the company’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $175.76, for a total value of $369,096.00. Following the transaction, the director now owns 5,891 shares of the company’s stock, valued at $1,035,402.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Alphabet news, Director John L. Hennessy sold 2,100 shares of the company’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $175.76, for a total value of $369,096.00. Following the transaction, the director now owns 5,891 shares of the company’s stock, valued at $1,035,402.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $173.22, for a total transaction of $3,897,450.00. Following the completion of the transaction, the chief executive officer now directly owns 2,258,011 shares in the company, valued at approximately $391,132,665.42. The disclosure for this sale can be found here. Insiders have sold 276,511 shares of company stock valued at $41,234,695 over the last 90 days. 12.99% of the stock is owned by insiders.

Alphabet Trading Up 1.1 %

Shares of GOOG stock traded up $1.95 on Wednesday, hitting $173.88. 20,944,560 shares of the stock traded hands, compared to its average volume of 22,397,119. The firm’s 50-day moving average price is $156.19 and its two-hundred day moving average price is $145.65. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15. The stock has a market capitalization of $2.15 trillion, a PE ratio of 26.67, a PEG ratio of 1.27 and a beta of 1.02. Alphabet Inc. has a twelve month low of $115.83 and a twelve month high of $176.42.

Alphabet (NASDAQ:GOOGGet Free Report) last announced its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.51 by $0.38. The firm had revenue of $80.54 billion for the quarter, compared to analysts’ expectations of $78.75 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The company’s revenue was up 15.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.17 EPS. As a group, analysts anticipate that Alphabet Inc. will post 7.66 EPS for the current 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 given a $0.20 dividend. The ex-dividend date is Monday, June 10th.

Alphabet 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.

Further Reading

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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