Glen Eagle Advisors LLC Sells 135 Shares of Alphabet Inc. (NASDAQ:GOOG)

Glen Eagle Advisors LLC cut its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,556 shares of the information services provider’s stock after selling 135 shares during the quarter. Glen Eagle Advisors LLC’s holdings in Alphabet were worth $1,249,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in GOOG. GPS Wealth Strategies Group LLC raised its position in Alphabet by 6.8% during the 4th quarter. GPS Wealth Strategies Group LLC now owns 16,248 shares of the information services provider’s stock valued at $3,094,000 after purchasing an additional 1,041 shares during the last quarter. Harvest Investment Services LLC lifted its stake in shares of Alphabet by 3.3% in the fourth quarter. Harvest Investment Services LLC now owns 4,329 shares of the information services provider’s stock worth $824,000 after buying an additional 138 shares in the last quarter. North Forty Two & Co. bought a new stake in shares of Alphabet in the 4th quarter worth $281,000. SageView Advisory Group LLC raised its position in Alphabet by 140.6% in the 4th quarter. SageView Advisory Group LLC now owns 14,734 shares of the information services provider’s stock worth $2,806,000 after buying an additional 8,610 shares during the last quarter. Finally, Requisite Capital Management LLC bought a new position in Alphabet during the fourth quarter valued at approximately $927,000. Institutional investors own 27.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on GOOG shares. Needham & Company LLC cut Alphabet from a “buy” rating to a “cautious” rating in a report on Friday, May 2nd. Tigress Financial restated a “strong-buy” rating on shares of Alphabet in a research note on Friday, May 2nd. Westpark Capital reissued a “buy” rating and set a $210.00 target price on shares of Alphabet in a research note on Friday, April 25th. KeyCorp reduced their price target on shares of Alphabet from $202.00 to $185.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 9th. Finally, Morgan Stanley restated an “overweight” rating on shares of Alphabet in a report on Wednesday, February 5th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have issued a buy rating and five have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $203.94.

Alphabet Stock Down 1.5%

Shares of NASDAQ:GOOG opened at $165.32 on Wednesday. The company has a market capitalization of $2.01 trillion, a PE ratio of 20.54, a PEG ratio of 1.34 and a beta of 1.01. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $208.70. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. The company has a 50 day moving average price of $160.18 and a two-hundred day moving average price of $176.66.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.02 by $0.79. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The company had revenue of $90.23 billion during the quarter, compared to analysts’ expectations of $89.30 billion. During the same period last year, the firm posted $1.89 earnings per share. The business’s revenue was up 12.0% on a year-over-year basis. Analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be issued a dividend of $0.21 per share. The ex-dividend date is Monday, June 9th. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 0.51%. Alphabet’s payout ratio is 9.36%.

Insider Transactions at Alphabet

In other Alphabet news, Director John L. Hennessy sold 200 shares of the business’s stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $165.53, for a total value of $33,106.00. Following the sale, the director now directly owns 7,813 shares in the company, valued at $1,293,285.89. The trade was a 2.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $158.56, for a total value of $5,153,200.00. Following the completion of the transaction, the chief executive officer now owns 2,717,696 shares of the company’s stock, valued at approximately $430,917,877.76. This trade represents a 1.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 129,744 shares of company stock worth $20,968,366. Insiders own 12.99% of the company’s stock.

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.