Keystone Financial Group Lowers Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Keystone Financial Group lessened its stake in Alphabet Inc. (NASDAQ:GOOGFree Report) by 6.1% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 34,756 shares of the information services provider’s stock after selling 2,264 shares during the quarter. Alphabet accounts for approximately 0.9% of Keystone Financial Group’s portfolio, making the stock its 20th biggest position. Keystone Financial Group’s holdings in Alphabet were worth $4,898,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Bruce G. Allen Investments LLC acquired a new position in shares of Alphabet in the fourth quarter valued at approximately $26,000. Partnership Wealth Management LLC acquired a new position in shares of Alphabet in the fourth quarter valued at approximately $26,000. Equitec Proprietary Markets LLC acquired a new position in shares of Alphabet in the fourth quarter valued at approximately $28,000. Buck Wealth Strategies LLC acquired a new position in shares of Alphabet in the third quarter valued at approximately $32,000. Finally, Barometer Capital Management Inc. purchased a new stake in shares of Alphabet in the third quarter valued at approximately $32,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Analysts Set New Price Targets

GOOG has been the topic of a number of analyst reports. Stifel Nicolaus lifted their price target on Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Oppenheimer lifted their price objective on Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research report on Monday, April 8th. Susquehanna increased their target price on Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a report on Wednesday, January 31st. 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, Morgan Stanley reaffirmed an “overweight” rating and set a $165.00 price objective on shares of Alphabet in a research note on Thursday, April 11th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Alphabet currently has an average rating of “Buy” and a consensus price target of $165.67.

Get Our Latest Analysis on GOOG

Insider Buying and Selling at Alphabet

In other news, SVP Prabhakar Raghavan sold 3,258 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $155.97, for a total value of $508,150.26. Following the transaction, the senior vice president now directly owns 144,685 shares in the company, valued at approximately $22,566,519.45. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, SVP Prabhakar Raghavan sold 3,258 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $155.97, for a total value of $508,150.26. Following the transaction, the senior vice president now directly owns 144,685 shares in the company, valued at approximately $22,566,519.45. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John L. Hennessy sold 2,100 shares of Alphabet stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $175.76, for a total transaction of $369,096.00. Following the completion of the sale, the director now owns 5,891 shares in the company, valued at $1,035,402.16. The disclosure for this sale can be found here. Insiders have sold 276,511 shares of company stock worth $41,234,695 in the last ninety days. 12.99% of the stock is owned by insiders.

Alphabet Trading Up 0.7 %

Shares of GOOG traded up $1.17 during trading hours on Monday, hitting $178.46. The stock had a trading volume of 17,481,020 shares, compared to its average volume of 22,233,293. Alphabet Inc. has a 12-month low of $115.83 and a 12-month high of $179.95. The firm has a market cap of $2.21 trillion, a P/E ratio of 27.42, a P/E/G ratio of 1.32 and a beta of 1.02. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15. The company’s fifty day simple moving average is $158.64 and its 200 day simple moving average is $146.69.

Alphabet (NASDAQ:GOOGGet Free Report) last released its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, topping 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 for the quarter, compared to the consensus estimate of $78.75 billion. During the same period last year, the business posted $1.17 EPS. The company’s quarterly revenue was up 15.4% compared to the same quarter last year. Equities research analysts forecast that Alphabet Inc. will post 7.7 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently disclosed a — dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 10th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, June 10th.

Alphabet Company 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.

See Also

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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