Blume Capital Management Inc. Has $12.58 Million Holdings in Alphabet Inc. (NASDAQ:GOOG)

Blume Capital Management Inc. trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 4.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 89,274 shares of the information services provider’s stock after selling 3,710 shares during the period. Alphabet accounts for about 3.3% of Blume Capital Management Inc.’s investment portfolio, making the stock its 5th biggest holding. Blume Capital Management Inc.’s holdings in Alphabet were worth $12,581,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Channel Wealth LLC raised its position in Alphabet by 16.0% in the 3rd quarter. Channel Wealth LLC now owns 21,905 shares of the information services provider’s stock valued at $2,888,000 after buying an additional 3,019 shares during the last quarter. NorthRock Partners LLC lifted its position in shares of Alphabet by 36.6% in the third quarter. NorthRock Partners LLC now owns 18,834 shares of the information services provider’s stock worth $2,483,000 after purchasing an additional 5,049 shares in the last quarter. GW Henssler & Associates Ltd. lifted its position in shares of Alphabet by 4.4% in the third quarter. GW Henssler & Associates Ltd. now owns 7,051 shares of the information services provider’s stock worth $930,000 after purchasing an additional 300 shares in the last quarter. Drake & Associates LLC boosted its holdings in Alphabet by 3.3% during the third quarter. Drake & Associates LLC now owns 3,785 shares of the information services provider’s stock worth $499,000 after purchasing an additional 120 shares during the last quarter. Finally, Kure Advisory LLC bought a new position in Alphabet in the third quarter valued at $456,000. 27.26% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Insider Activity at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $143.08, for a total value of $3,219,300.00. Following the transaction, the chief executive officer now directly owns 2,355,191 shares of the company’s stock, valued at approximately $336,980,728.28. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Alphabet 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 transaction, the senior vice president now directly owns 144,685 shares of the company’s stock, valued at approximately $22,566,519.45. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $143.08, for a total value of $3,219,300.00. Following the completion of the transaction, the chief executive officer now directly owns 2,355,191 shares in the company, valued at $336,980,728.28. The disclosure for this sale can be found here. In the last quarter, insiders have sold 252,629 shares of company stock worth $37,091,240. Company insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

GOOG traded down $1.82 during trading hours on Wednesday, reaching $171.16. The company’s stock had a trading volume of 13,649,296 shares, compared to its average volume of 22,634,053. Alphabet Inc. has a 52 week low of $107.72 and a 52 week high of $176.42. The company’s 50-day moving average is $152.74 and its 200-day moving average is $144.21. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15. The firm has a market cap of $2.12 trillion, a PE ratio of 26.25, a price-to-earnings-growth ratio of 1.26 and a beta of 1.02.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, beating 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 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 business earned $1.17 EPS. The firm’s revenue for the quarter was up 15.4% on a year-over-year basis. On average, equities analysts forecast that Alphabet Inc. will post 7.66 EPS for the current year.

Alphabet Announces Dividend

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

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.