Berkeley Capital Partners LLC Lowers Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Berkeley Capital Partners LLC lowered its position in shares of Alphabet Inc. (NASDAQ:GOOGFree Report) by 1.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,922 shares of the information services provider’s stock after selling 98 shares during the quarter. Berkeley Capital Partners LLC’s holdings in Alphabet were worth $835,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Partnership Wealth Management LLC purchased a new position in shares of Alphabet in the 4th quarter worth about $26,000. Bruce G. Allen Investments LLC purchased a new position in Alphabet in the 4th quarter worth about $26,000. Equitec Proprietary Markets LLC purchased a new position in Alphabet in the 4th quarter worth about $28,000. DiNuzzo Private Wealth Inc. purchased a new position in Alphabet in the 4th quarter worth about $32,000. Finally, Buck Wealth Strategies LLC purchased a new position in Alphabet in the 3rd quarter worth about $32,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Price Performance

Shares of GOOG traded up $1.17 during mid-day trading on Monday, hitting $178.46. 17,481,020 shares of the stock were exchanged, compared to its average volume of 22,233,293. The company has a market cap of $2.21 trillion, a PE ratio of 27.42, a price-to-earnings-growth ratio of 1.32 and a beta of 1.02. Alphabet Inc. has a 52-week low of $115.83 and a 52-week high of $179.95. The firm has a 50-day moving average of $158.64 and a two-hundred day moving average of $146.69. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15.

Alphabet (NASDAQ:GOOGGet Free Report) last issued its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.51 by $0.38. The business had revenue of $80.54 billion for the quarter, compared to analysts’ expectations of $78.75 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The company’s revenue for the quarter was up 15.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.17 EPS. On average, equities analysts predict that Alphabet Inc. will post 7.7 earnings per share for the current year.

Alphabet Dividend Announcement

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

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $173.22, for a total transaction of $3,897,450.00. Following the transaction, the chief executive officer now owns 2,258,011 shares of the company’s stock, valued at approximately $391,132,665.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Alphabet news, CFO Ruth Porat sold 48,077 shares of the stock in a transaction dated Friday, March 8th. The stock was 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 directly owns 1,777,106 shares in the company, valued at $243,854,485.32. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $173.22, for a total value of $3,897,450.00. Following the completion of the sale, the chief executive officer now owns 2,258,011 shares of the company’s stock, valued at $391,132,665.42. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 276,511 shares of company stock valued at $41,234,695. 12.99% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on GOOG. Susquehanna boosted their target price on Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a research 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 boosted their price objective on Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Raymond James boosted their price target on Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a report on Wednesday, January 24th. Finally, Oppenheimer boosted their price target on Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a report on Monday, April 8th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $165.67.

Read Our Latest Stock Analysis on GOOG

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.

Read More

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.