Alphabet Inc. (NASDAQ:GOOG) Position Decreased by Nicholas Hoffman & Company LLC.

Nicholas Hoffman & Company LLC. reduced its holdings in Alphabet Inc. (NASDAQ:GOOG) by 1.2% during the first quarter, Holdings Channel reports. The firm owned 22,064 shares of the information services provider’s stock after selling 259 shares during the period. Nicholas Hoffman & Company LLC.’s holdings in Alphabet were worth $3,359,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new stake in Alphabet during the 4th quarter worth about $4,101,040,000. JPMorgan Chase & Co. boosted its stake in Alphabet by 11.3% in the 3rd 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 during the period. International Assets Investment Management LLC acquired a new position in Alphabet in the 4th quarter worth approximately $11,600,970,000. FMR LLC grew its position in Alphabet by 3.8% during the 3rd quarter. FMR LLC now owns 120,234,117 shares of the information services provider’s stock worth $15,852,868,000 after purchasing an additional 4,348,188 shares in the last quarter. Finally, Cerity Partners LLC raised its stake in Alphabet by 198.7% during the 4th quarter. Cerity Partners LLC now owns 3,882,882 shares of the information services provider’s stock valued at $547,215,000 after purchasing an additional 2,583,128 shares during the period. 27.26% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Alphabet news, Director John L. Hennessy sold 2,100 shares of the stock in a transaction on Friday, April 26th. The shares were sold at an average price of $175.76, for a total transaction of $369,096.00. Following the transaction, the director now directly owns 5,891 shares of the company’s stock, valued at $1,035,402.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total transaction of $2,985,750.00. Following the transaction, the chief executive officer now owns 2,332,691 shares in the company, valued at $309,548,095.70. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John L. Hennessy sold 2,100 shares of the business’s stock in a transaction on Friday, April 26th. The stock was 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 of the company’s stock, valued at $1,035,402.16. 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 ninety days. Corporate insiders own 12.99% of the company’s stock.

Alphabet Stock Down 1.9 %

NASDAQ GOOG traded down $3.26 on Tuesday, reaching $164.64. The stock had a trading volume of 29,398,761 shares, compared to its average volume of 22,876,967. The company has a current ratio of 2.15, a quick ratio of 2.10 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 business has a 50 day moving average price of $150.09 and a 200 day moving average price of $143.16. The company has a market capitalization of $2.05 trillion, a price-to-earnings ratio of 25.25, a P/E/G ratio of 1.59 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.51 by $0.38. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. 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 previous year, the business posted $1.17 EPS. The firm’s quarterly revenue was up 15.4% compared to the same quarter last year. On average, analysts forecast that Alphabet Inc. will post 6.8 EPS for the current fiscal year.

Alphabet Dividend Announcement

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

Analysts Set New Price Targets

Several brokerages have recently commented on GOOG. Susquehanna raised 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 raised their price objective on Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 24th. Oppenheimer upped their target price on Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a report on Monday, April 8th. Morgan Stanley reissued an “overweight” rating and issued a $165.00 price target on shares of Alphabet in a research report on Thursday, April 11th. Finally, Stifel Nicolaus boosted their price objective 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. Six analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $165.67.

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.