Forza Wealth Management LLC Sells 1,400 Shares of Alphabet Inc. (NASDAQ:GOOG)

Forza Wealth Management LLC reduced its holdings in Alphabet Inc. (NASDAQ:GOOG) by 28.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,480 shares of the information services provider’s stock after selling 1,400 shares during the quarter. Forza Wealth Management LLC’s holdings in Alphabet were worth $530,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Norges Bank bought a new position in Alphabet in the 4th quarter worth $4,101,040,000. JPMorgan Chase & Co. raised its holdings in Alphabet by 11.3% in the third quarter. JPMorgan Chase & Co. now owns 95,941,129 shares of the information services provider’s stock worth $12,649,838,000 after purchasing an additional 9,703,425 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Alphabet during the fourth quarter valued at about $11,600,970,000. FMR LLC raised its stake in Alphabet by 3.8% in the third quarter. FMR LLC now owns 120,234,117 shares of the information services provider’s stock valued at $15,852,868,000 after buying an additional 4,348,188 shares during the last quarter. Finally, Cerity Partners LLC raised its holdings in shares of Alphabet by 198.7% in the fourth quarter. Cerity Partners LLC now owns 3,882,882 shares of the information services provider’s stock worth $547,215,000 after buying an additional 2,583,128 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Alphabet Stock Down 3.3 %

GOOG traded down $5.79 on Monday, hitting $167.90. 35,888,579 shares of the company were exchanged, compared to its average volume of 22,805,301. 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 company has a market cap of $2.09 trillion, a price-to-earnings ratio of 25.75, a price-to-earnings-growth ratio of 1.59 and a beta of 1.05. The firm has a 50-day moving average price of $149.64 and a two-hundred day moving average price of $142.97. Alphabet Inc. has a twelve month low of $104.50 and a twelve month high of $176.42.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $78.75 billion. During the same quarter in the prior year, the business posted $1.17 EPS. The company’s revenue for the quarter was up 15.4% on a year-over-year basis. On average, equities analysts predict that Alphabet Inc. will post 6.8 earnings per share for the current year.

Alphabet Announces Dividend

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

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Susquehanna increased their price target 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 issued a $165.00 price target on shares of Alphabet in a research note on Thursday, April 11th. Raymond James increased their price target on Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 24th. Stifel Nicolaus lifted their target price on shares of Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Finally, 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. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Alphabet presently has an average rating of “Buy” and an average target price of $165.67.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 660 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $143.59, for a total value of $94,769.40. Following the sale, the chief accounting officer now owns 27,920 shares of the company’s stock, valued at $4,009,032.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Prabhakar Raghavan sold 3,258 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $155.97, for a total value of $508,150.26. Following the completion of the transaction, the senior vice president now directly owns 144,685 shares in the company, valued at $22,566,519.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 660 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $143.59, for a total transaction of $94,769.40. Following the transaction, the chief accounting officer now directly owns 27,920 shares of the company’s stock, valued at approximately $4,009,032.80. The disclosure for this sale can be found here. Insiders have sold 253,439 shares of company stock valued at $36,746,578 over the last quarter. Company insiders own 12.99% of the company’s stock.

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.