Consolidated Portfolio Review Corp Cuts Stake in Alphabet Inc. (NASDAQ:GOOG)

Consolidated Portfolio Review Corp cut its stake in Alphabet Inc. (NASDAQ:GOOGFree Report) by 29.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,705 shares of the information services provider’s stock after selling 3,286 shares during the quarter. Consolidated Portfolio Review Corp’s holdings in Alphabet were worth $1,173,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in GOOG. Partnership Wealth Management LLC purchased a new stake in shares of Alphabet during the fourth quarter worth about $26,000. Bruce G. Allen Investments LLC purchased a new stake in shares of Alphabet during the fourth quarter worth about $26,000. Equitec Proprietary Markets LLC purchased a new stake in shares of Alphabet during the fourth quarter worth about $28,000. DiNuzzo Private Wealth Inc. purchased a new stake in shares of Alphabet during the fourth quarter worth about $32,000. Finally, Richardson Financial Services Inc. purchased a new stake in shares of Alphabet during the fourth quarter worth about $34,000. 27.26% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $157.41, for a total transaction of $3,541,725.00. Following the completion of the transaction, the chief executive officer now directly owns 2,303,011 shares in the company, valued at $362,516,961.51. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, SVP Prabhakar Raghavan sold 3,262 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $183.99, for a total transaction of $600,175.38. Following the completion of the transaction, the senior vice president now directly owns 9 shares in the company, valued at $1,655.91. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $157.41, for a total value of $3,541,725.00. Following the transaction, the chief executive officer now owns 2,303,011 shares of the company’s stock, valued at $362,516,961.51. The disclosure for this sale can be found here. Insiders sold a total of 146,288 shares of company stock worth $25,345,053 over the last ninety days. Company insiders own 12.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Stifel Nicolaus lifted their target price on Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Morgan Stanley reaffirmed an “overweight” rating and set a $165.00 target price on shares of Alphabet in a research report on Thursday, April 11th. Rosenblatt Securities downgraded Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target for the company. in a research note on Friday, June 28th. Finally, Oppenheimer lifted their price target on Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research note on Monday, April 8th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and an average price target of $167.86.

Check Out Our Latest Research Report on Alphabet

Alphabet Stock Performance

GOOG stock traded up $4.57 during midday trading on Friday, reaching $191.96. The company had a trading volume of 14,303,361 shares, compared to its average volume of 15,944,221. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. The stock has a 50 day moving average price of $176.95 and a 200 day moving average price of $157.38. Alphabet Inc. has a fifty-two week low of $115.83 and a fifty-two week high of $192.26. The firm has a market capitalization of $2.37 trillion, a PE ratio of 29.44, a P/E/G ratio of 1.41 and a beta of 1.05.

Alphabet (NASDAQ:GOOGGet Free Report) last issued its 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. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The company had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $78.75 billion. During the same period in the previous year, the firm posted $1.17 earnings per share. Alphabet’s quarterly revenue was up 15.4% compared to the same quarter last year. Analysts anticipate that Alphabet Inc. will post 7.6 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently announced a — dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 10th were paid a $0.20 dividend. The ex-dividend date was Monday, June 10th. Alphabet’s payout ratio is currently 12.27%.

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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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