Alphabet Inc. (NASDAQ:GOOG) Stock Position Lowered by Blue Chip Partners LLC

Blue Chip Partners LLC reduced its stake in Alphabet Inc. (NASDAQ:GOOG) by 1.3% in the 4th quarter, Holdings Channel reports. The firm owned 235,023 shares of the information services provider’s stock after selling 2,984 shares during the quarter. Alphabet accounts for approximately 3.5% of Blue Chip Partners LLC’s portfolio, making the stock its 4th biggest position. Blue Chip Partners LLC’s holdings in Alphabet were worth $33,122,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC boosted its stake in shares of Alphabet by 2.1% in the third quarter. Opal Wealth Advisors LLC now owns 5,486 shares of the information services provider’s stock valued at $723,000 after purchasing an additional 111 shares during the period. Czech National Bank boosted its position in Alphabet by 45.8% in the 3rd quarter. Czech National Bank now owns 882,124 shares of the information services provider’s stock valued at $116,308,000 after buying an additional 277,156 shares during the last quarter. Warren Street Wealth Advisors LLC grew its stake in shares of Alphabet by 9.4% during the third quarter. Warren Street Wealth Advisors LLC now owns 12,417 shares of the information services provider’s stock valued at $1,637,000 after acquiring an additional 1,063 shares in the last quarter. Benin Management CORP lifted its stake in shares of Alphabet by 161.6% in the third quarter. Benin Management CORP now owns 10,425 shares of the information services provider’s stock worth $1,375,000 after acquiring an additional 6,440 shares in the last quarter. Finally, Intergy Private Wealth LLC increased its holdings in Alphabet by 5.4% during the 3rd quarter. Intergy Private Wealth LLC now owns 2,581 shares of the information services provider’s stock worth $340,000 after purchasing an additional 133 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O’toole sold 660 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $143.59, for a total transaction of $94,769.40. Following the completion of the transaction, the chief accounting officer now directly owns 27,920 shares in the company, valued at $4,009,032.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CAO Amie Thuener O’toole sold 660 shares of the stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $143.59, for a total value of $94,769.40. Following the completion of the transaction, the chief accounting officer now owns 27,920 shares in the company, valued at approximately $4,009,032.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sundar Pichai sold 22,500 shares of the firm’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 transaction, the chief executive officer now directly owns 2,377,691 shares in the company, valued at approximately $347,832,416.39. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 253,209 shares of company stock worth $36,711,144. 12.99% of the stock is owned by company insiders.

Analysts Set New Price Targets

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

Alphabet Stock Down 3.3 %

NASDAQ:GOOG opened at $167.90 on Tuesday. The company has a current ratio of 2.15, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05. The stock has a 50 day moving average of $149.64 and a 200-day moving average of $142.97. The firm 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.

Alphabet (NASDAQ:GOOG) last issued 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 firm 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 business earned $1.17 EPS. The firm’s revenue was up 15.4% on a year-over-year basis. Analysts predict that Alphabet Inc. will post 6.8 EPS for the current year.

Alphabet Dividend Announcement

The company also recently announced 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 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.