Alphabet Inc. (NASDAQ:GOOG) is Founders Capital Management LLC’s Largest Position

Founders Capital Management LLC trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.9% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 465,335 shares of the information services provider’s stock after selling 4,380 shares during the period. Alphabet makes up approximately 13.1% of Founders Capital Management LLC’s holdings, making the stock its largest position. Founders Capital Management LLC’s holdings in Alphabet were worth $70,852,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in GOOG. Tandem Wealth Advisors LLC purchased a new position in shares of Alphabet during the 3rd quarter valued at $25,000. Bruce G. Allen Investments LLC purchased a new stake in Alphabet during the fourth quarter valued at approximately $26,000. Partnership Wealth Management LLC bought a new stake in shares of Alphabet in the 4th quarter valued at approximately $26,000. Equitec Proprietary Markets LLC purchased a new position in Alphabet during the fourth quarter worth $28,000. Finally, Buck Wealth Strategies LLC bought a new stake in shares of Alphabet during the third quarter worth $32,000. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GOOG has been the subject of several research analyst reports. Susquehanna lifted 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. Raymond James boosted their target price on shares of Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a report on Wednesday, January 24th. Oppenheimer boosted their price target on Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research note on Monday, April 8th. Stifel Nicolaus upped their price objective on Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $165.00 target price on shares of Alphabet in a research note on Thursday, April 11th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $165.67.

Insider Transactions at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 660 shares of the company’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 sale, the chief accounting officer now owns 27,920 shares in the company, valued at $4,009,032.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CAO Amie Thuener O’toole sold 660 shares of the stock in a transaction that occurred 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 completion of 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John L. Hennessy sold 300 shares of the stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $139.51, for a total value of $41,853.00. Following the transaction, the director now directly owns 9,291 shares of the company’s stock, valued at $1,296,187.41. The disclosure for this sale can be found here. Insiders sold 253,289 shares of company stock valued at $36,724,534 over the last quarter. Company insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

GOOG traded down $3.26 during trading on Tuesday, hitting $164.64. 29,398,761 shares of the stock were exchanged, compared to its average volume of 22,876,967. The company has a quick ratio of 2.10, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 1-year low of $104.50 and a 1-year high of $176.42. The firm has a market capitalization of $2.05 trillion, a P/E ratio of 25.25, a PEG ratio of 1.59 and a beta of 1.05. The stock has a fifty day moving average price of $150.09 and a two-hundred day moving average price of $143.16.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results 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. The company had revenue of $80.54 billion during 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 business’s revenue for the quarter was up 15.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.17 earnings per share. As a group, sell-side analysts predict that Alphabet Inc. will post 6.8 earnings per share for the current year.

Alphabet Dividend Announcement

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

About Alphabet

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.