1900 Wealth Management LLC Has $1.71 Million Stock Position in Alphabet Inc. (NASDAQ:GOOG)

1900 Wealth Management LLC lessened its position in shares of Alphabet Inc. (NASDAQ:GOOGFree Report) by 9.1% during the 1st quarter, HoldingsChannel reports. The fund owned 11,228 shares of the information services provider’s stock after selling 1,120 shares during the quarter. 1900 Wealth Management LLC’s holdings in Alphabet were worth $1,710,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Norges Bank acquired a new position in Alphabet in the fourth quarter valued at about $4,101,040,000. JPMorgan Chase & Co. increased its stake in shares of Alphabet by 11.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 95,941,129 shares of the information services provider’s stock valued at $12,649,838,000 after acquiring an additional 9,703,425 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in shares of Alphabet in the 4th quarter valued at approximately $11,600,970,000. FMR LLC grew its holdings in Alphabet by 3.8% during the third quarter. FMR LLC now owns 120,234,117 shares of the information services provider’s stock valued at $15,852,868,000 after purchasing an additional 4,348,188 shares during the period. Finally, Cerity Partners LLC grew its holdings in Alphabet by 198.7% during the fourth quarter. Cerity Partners LLC now owns 3,882,882 shares of the information services provider’s stock valued at $547,215,000 after purchasing an additional 2,583,128 shares during the period. Institutional investors own 27.26% of the company’s stock.

Alphabet Stock Up 0.6 %

Shares of GOOG stock traded up $1.08 on Tuesday, hitting $179.54. 14,699,066 shares of the stock were exchanged, compared to its average volume of 22,156,553. The business has a 50-day moving average of $160.23 and a 200 day moving average of $147.39. Alphabet Inc. has a fifty-two week low of $115.83 and a fifty-two week high of $179.95. The firm has a market capitalization of $2.22 trillion, a P/E ratio of 27.54, a price-to-earnings-growth ratio of 1.32 and a beta of 1.02. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOGGet Free Report) last issued its quarterly 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 during 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 business’s quarterly revenue was up 15.4% on a year-over-year basis. During the same period last year, the business earned $1.17 EPS. Equities analysts anticipate that Alphabet Inc. will post 7.7 EPS for the current year.

Alphabet Announces Dividend

The firm also recently declared a — dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 10th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, June 10th.

Analyst Ratings Changes

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

Get Our Latest Report on GOOG

Insider Transactions at Alphabet

In related news, SVP Prabhakar Raghavan sold 3,258 shares of Alphabet stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $155.97, for a total value of $508,150.26. Following the sale, the senior vice president now owns 144,685 shares of the company’s stock, valued at $22,566,519.45. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $173.22, for a total value of $3,897,450.00. Following the completion of the transaction, the chief executive officer now owns 2,258,011 shares of the company’s stock, valued at approximately $391,132,665.42. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Prabhakar Raghavan sold 3,258 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $155.97, for a total transaction of $508,150.26. Following the transaction, the senior vice president now owns 144,685 shares in the company, valued at $22,566,519.45. The disclosure for this sale can be found here. Insiders sold a total of 228,435 shares of company stock worth $34,398,287 in the last three months. Insiders own 12.99% of the company’s stock.

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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