Cabot Wealth Management Inc. Sells 182 Shares of Alphabet Inc. (NASDAQ:GOOG)

Cabot Wealth Management Inc. decreased its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.1% during the 1st quarter, HoldingsChannel reports. The fund owned 122,292 shares of the information services provider’s stock after selling 182 shares during the period. Alphabet comprises approximately 2.4% of Cabot Wealth Management Inc.’s portfolio, making the stock its 8th largest holding. Cabot Wealth Management Inc.’s holdings in Alphabet were worth $19,106,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Sterling Financial Planning Inc. boosted its holdings in shares of Alphabet by 2.6% during the 4th quarter. Sterling Financial Planning Inc. now owns 1,941 shares of the information services provider’s stock valued at $370,000 after acquiring an additional 50 shares in the last quarter. Ethos Financial Group LLC boosted its holdings in shares of Alphabet by 0.7% during the 4th quarter. Ethos Financial Group LLC now owns 7,300 shares of the information services provider’s stock valued at $1,395,000 after acquiring an additional 53 shares in the last quarter. Hutchinson Capital Management CA boosted its holdings in shares of Alphabet by 1.5% during the 4th quarter. Hutchinson Capital Management CA now owns 3,555 shares of the information services provider’s stock valued at $677,000 after acquiring an additional 54 shares in the last quarter. M. Kulyk & Associates LLC boosted its holdings in shares of Alphabet by 0.9% during the 4th quarter. M. Kulyk & Associates LLC now owns 6,445 shares of the information services provider’s stock valued at $1,227,000 after acquiring an additional 56 shares in the last quarter. Finally, Retirement Planning Co of New England Inc. boosted its holdings in shares of Alphabet by 0.4% during the 4th quarter. Retirement Planning Co of New England Inc. now owns 15,977 shares of the information services provider’s stock valued at $3,043,000 after acquiring an additional 56 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Stock Performance

GOOG stock opened at $167.73 on Friday. The stock has a 50-day moving average price of $166.31 and a 200-day moving average price of $176.39. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $208.70. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.03. The firm has a market cap of $2.04 trillion, a PE ratio of 18.70, a price-to-earnings-growth ratio of 1.23 and a beta of 1.01.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.79. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. The firm had revenue of $90.23 billion during the quarter, compared to analyst estimates of $89.30 billion. During the same period last year, the company posted $1.89 EPS. The business’s quarterly revenue was up 12.0% on a year-over-year basis. As a group, equities research analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 9th were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.50%. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Monday, June 9th. Alphabet’s payout ratio is presently 9.36%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Rosenblatt Securities raised Alphabet from a “hold” rating to a “strong-buy” rating in a report on Friday, April 25th. UBS Group cut their target price on Alphabet from $209.00 to $173.00 and set a “neutral” rating on the stock in a report on Friday, April 11th. Westpark Capital reaffirmed a “buy” rating and set a $210.00 target price on shares of Alphabet in a report on Friday, April 25th. KeyCorp cut their target price on Alphabet from $202.00 to $185.00 and set an “overweight” rating on the stock in a report on Wednesday, April 9th. Finally, Needham & Company LLC downgraded Alphabet from a “buy” rating to a “cautious” rating in a report on Friday, May 2nd. Three research analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have given a buy rating and five have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and an average target price of $204.88.

Insider Activity at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $176.68, for a total value of $5,742,100.00. Following the completion of the sale, the chief executive officer now directly owns 2,555,196 shares of the company’s stock, valued at $451,452,029.28. The trade was a 1.26% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider John Kent Walker sold 11,764 shares of the business’s stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $166.84, for a total value of $1,962,705.76. Following the completion of the sale, the insider now directly owns 49,037 shares of the company’s stock, valued at $8,181,333.08. The trade was a 19.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 228,070 shares of company stock valued at $37,745,632 in the last three months. Corporate 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.