Blue Chip Partners LLC Has $33.12 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Blue Chip Partners LLC cut its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 235,023 shares of the information services provider’s stock after selling 2,984 shares during the period. Alphabet makes up 3.5% of Blue Chip Partners LLC’s portfolio, making the stock its 4th largest holding. Blue Chip Partners LLC’s holdings in Alphabet were worth $33,122,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in GOOG. Tandem Wealth Advisors LLC purchased a new stake in shares of Alphabet during the third quarter valued at $25,000. Bruce G. Allen Investments LLC bought a new stake in Alphabet during the 4th quarter valued at about $26,000. Equitec Proprietary Markets LLC purchased a new stake in Alphabet in the 4th quarter valued at about $28,000. Buck Wealth Strategies LLC bought a new position in Alphabet in the 3rd quarter worth about $32,000. Finally, Barometer Capital Management Inc. purchased a new position in shares of Alphabet during the third quarter worth approximately $32,000. 27.26% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Insider Activity

In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $146.29, for a total transaction of $3,291,525.00. Following the transaction, the chief executive officer now owns 2,377,691 shares in the company, valued at $347,832,416.39. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CFO Ruth Porat sold 48,077 shares of the company’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $137.22, for a total value of $6,597,125.94. Following the completion of the sale, the chief financial officer now owns 1,777,106 shares of the company’s stock, valued at $243,854,485.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $146.29, for a total transaction of $3,291,525.00. Following the completion of the transaction, the chief executive officer now owns 2,377,691 shares in the company, valued at $347,832,416.39. The disclosure for this sale can be found here. Insiders sold 253,209 shares of company stock worth $36,711,144 over the last ninety days. Corporate insiders own 12.99% of the company’s stock.

Alphabet Price Performance

NASDAQ:GOOG opened at $167.90 on Tuesday. The stock has a market capitalization of $2.09 trillion, a PE ratio of 25.75, a price-to-earnings-growth ratio of 1.59 and a beta of 1.05. Alphabet Inc. has a 52 week low of $104.50 and a 52 week high of $176.42. The company has a quick ratio of 2.10, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. The stock’s 50-day moving average price is $149.64 and its 200-day moving average price is $142.97.

Alphabet (NASDAQ:GOOG) last announced its 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. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The business had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $78.75 billion. During the same period in the prior year, the company posted $1.17 EPS. The business’s quarterly revenue was up 15.4% on a year-over-year basis. As a group, equities analysts expect that Alphabet Inc. will post 6.8 EPS for the current fiscal year.

Alphabet Dividend Announcement

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

Alphabet Company 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.