Independent Portfolio Consultants Inc. cut its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 6.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,819 shares of the information services provider’s stock after selling 123 shares during the period. Independent Portfolio Consultants Inc.’s holdings in Alphabet were worth $1,509,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Cambridge Advisors Inc. increased its stake in Alphabet by 0.4% in the first quarter. Cambridge Advisors Inc. now owns 272 shares of the information services provider’s stock worth $226,000 after buying an additional 1 shares in the last quarter. Howland Capital Management LLC increased its stake in Alphabet by 0.3% in the first quarter. Howland Capital Management LLC now owns 637 shares of the information services provider’s stock worth $528,000 after buying an additional 2 shares in the last quarter. Lederer & Associates Investment Counsel CA increased its stake in Alphabet by 0.4% in the first quarter. Lederer & Associates Investment Counsel CA now owns 1,091 shares of the information services provider’s stock worth $905,000 after buying an additional 4 shares in the last quarter. CGOV Asset Management increased its stake in Alphabet by 0.4% in the first quarter. CGOV Asset Management now owns 1,405 shares of the information services provider’s stock worth $1,553,000 after buying an additional 5 shares in the last quarter. Finally, Naples Global Advisors LLC increased its stake in Alphabet by 0.7% in the first quarter. Naples Global Advisors LLC now owns 690 shares of the information services provider’s stock worth $572,000 after buying an additional 5 shares in the last quarter. 35.04% of the stock is owned by hedge funds and other institutional investors.

Alphabet Inc. (GOOG) opened at 927.33 on Wednesday. The stock has a 50 day moving average of $948.74 and a 200 day moving average of $852.55. The company has a market cap of $641.48 billion, a P/E ratio of 31.34 and a beta of 0.94. Alphabet Inc. has a 52 week low of $663.28 and a 52 week high of $988.25. Alphabet also was the recipient of unusually large options trading activity on Tuesday. Stock investors purchased 2,914 put options on the company. This is an increase of approximately 173% compared to the average volume of 1,066 put options.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Thursday, April 27th. The information services provider reported $7.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.38 by $0.35. Alphabet had a net margin of 21.84% and a return on equity of 15.16%. The firm had revenue of $24.75 billion for the quarter, compared to the consensus estimate of $24.18 billion. During the same quarter in the previous year, the firm earned $7.50 EPS. The company’s quarterly revenue was up 22.2% compared to the same quarter last year. On average, analysts expect that Alphabet Inc. will post $33.91 earnings per share for the current year.

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A number of research firms have recently issued reports on GOOG. Vetr raised shares of Alphabet from a “hold” rating to a “buy” rating and set a $980.86 price objective for the company in a report on Monday, June 19th. Moffett Nathanson reaffirmed a “buy” rating on shares of Alphabet in a report on Friday, June 9th. Aegis reaffirmed a “buy” rating and set a $1,011.00 price objective on shares of Alphabet in a report on Sunday, April 2nd. Robert W. Baird reaffirmed an “outperform” rating and set a $960.00 price objective on shares of Alphabet in a report on Wednesday, March 1st. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $1,200.00 price objective (up from $950.00) on shares of Alphabet in a report on Sunday, May 28th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and forty have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $988.37.

In related news, CEO Sundar Pichai sold 4,000 shares of Alphabet stock in a transaction that occurred on Wednesday, April 5th. The shares were sold at an average price of $837.31, for a total value of $3,349,240.00. Following the completion of the sale, the chief executive officer now directly owns 2,351 shares in the company, valued at approximately $1,968,515.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Shirley M. Tilghman sold 250 shares of Alphabet stock in a transaction that occurred on Friday, May 12th. The stock was sold at an average price of $931.88, for a total transaction of $232,970.00. Following the completion of the sale, the director now owns 5,579 shares of the company’s stock, valued at $5,198,958.52. The disclosure for this sale can be found here. In the last ninety days, insiders sold 46,085 shares of company stock worth $42,307,001. Insiders own 13.92% of the company’s stock.

Alphabet Company Profile

Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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