Alphabet Inc. (NASDAQ:GOOG) Position Decreased by Montag A & Associates Inc.

Montag A & Associates Inc. decreased its position in Alphabet Inc. (NASDAQ:GOOG) by 0.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 269,601 shares of the information services provider’s stock after selling 1,294 shares during the period. Alphabet accounts for about 2.1% of Montag A & Associates Inc.’s portfolio, making the stock its 6th largest position. Montag A & Associates Inc.’s holdings in Alphabet were worth $37,995,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Cranbrook Wealth Management LLC raised its position in shares of Alphabet by 14.0% during the 4th quarter. Cranbrook Wealth Management LLC now owns 570 shares of the information services provider’s stock valued at $80,000 after buying an additional 70 shares in the last quarter. Manchester Financial Inc. raised its position in Alphabet by 3.6% during the fourth quarter. Manchester Financial Inc. now owns 2,124 shares of the information services provider’s stock valued at $299,000 after purchasing an additional 74 shares in the last quarter. Atticus Wealth Management LLC lifted its stake in Alphabet by 1.4% during the third quarter. Atticus Wealth Management LLC now owns 5,262 shares of the information services provider’s stock worth $694,000 after purchasing an additional 75 shares during the last quarter. Congress Park Capital LLC boosted its holdings in shares of Alphabet by 0.3% in the 4th quarter. Congress Park Capital LLC now owns 22,542 shares of the information services provider’s stock worth $3,177,000 after purchasing an additional 76 shares in the last quarter. Finally, Emerald Advisors LLC raised its holdings in shares of Alphabet by 0.6% during the 4th quarter. Emerald Advisors LLC now owns 13,565 shares of the information services provider’s stock valued at $1,912,000 after buying an additional 76 shares in the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Up 0.2 %

Shares of GOOG stock traded up $0.42 during mid-day trading on Thursday, reaching $171.58. 11,914,729 shares of the company’s stock traded hands, compared to its average volume of 22,523,879. The company’s 50-day moving average price is $153.41 and its 200-day moving average price is $144.40. The company has a market cap of $2.12 trillion, a P/E ratio of 26.32, a P/E/G ratio of 1.26 and a beta of 1.02. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 12 month low of $108.48 and a 12 month high of $176.42.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.51 by $0.38. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The business had revenue of $80.54 billion for the quarter, compared to analysts’ expectations of $78.75 billion. During the same quarter in the prior year, the company earned $1.17 earnings per share. The business’s revenue was up 15.4% compared to the same quarter last year. On average, equities analysts expect that Alphabet Inc. will post 7.66 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently announced a — dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 10th will be paid a $0.20 dividend. The ex-dividend date is Monday, June 10th. Alphabet’s dividend payout ratio is currently 12.27%.

Insider Buying and Selling

In other Alphabet news, Director John L. Hennessy sold 800 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $149.73, for a total transaction of $119,784.00. Following the completion of the sale, the director now directly owns 7,164 shares in the company, valued at approximately $1,072,665.72. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director John L. Hennessy sold 800 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $149.73, for a total transaction of $119,784.00. Following the transaction, the director now directly owns 7,164 shares of the company’s stock, valued at $1,072,665.72. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $166.80, for a total value of $3,753,000.00. Following the completion of the sale, the chief executive officer now owns 2,280,511 shares of the company’s stock, valued at $380,389,234.80. The disclosure for this sale can be found here. Insiders have sold a total of 252,629 shares of company stock worth $37,091,240 in the last quarter. Corporate insiders own 12.99% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Alphabet 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.