McAdam LLC Reduces Stake in Alphabet Inc. (NASDAQ:GOOG)

McAdam LLC lessened its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 10.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,893 shares of the information services provider’s stock after selling 766 shares during the quarter. McAdam LLC’s holdings in Alphabet were worth $971,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of GOOG. Tandem Wealth Advisors LLC purchased a new position in shares of Alphabet during the 3rd quarter worth $25,000. Bruce G. Allen Investments LLC purchased a new position in Alphabet during the fourth quarter valued at $26,000. Equitec Proprietary Markets LLC purchased a new position in Alphabet during the fourth quarter valued at $28,000. Buck Wealth Strategies LLC bought a new stake in Alphabet during the third quarter valued at about $32,000. Finally, Barometer Capital Management Inc. purchased a new stake in Alphabet in the third quarter worth about $32,000. Institutional investors own 27.26% of the company’s stock.

Analysts Set New Price Targets

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

Alphabet Trading Down 3.3 %

Shares of Alphabet stock opened at $167.90 on Tuesday. Alphabet Inc. has a twelve month low of $104.50 and a twelve month high of $176.42. The company has a quick ratio of 2.10, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. The business has a 50-day moving average price of $149.64 and a 200-day moving average price of $142.97. The firm has a market cap of $2.09 trillion, a price-to-earnings ratio of 25.75, a PEG ratio of 1.59 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $78.75 billion. During the same period in the prior year, the firm earned $1.17 EPS. The company’s revenue for the quarter was up 15.4% on a year-over-year basis. Equities research analysts anticipate 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. Stockholders of record on Monday, June 10th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, June 10th.

Insider Activity at Alphabet

In other news, CAO Amie Thuener O’toole sold 660 shares of the business’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 transaction, the chief accounting officer now owns 27,920 shares of the company’s stock, valued at approximately $4,009,032.80. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Alphabet news, Director John L. Hennessy sold 2,100 shares of the business’s stock in a transaction that occurred 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 transaction, the director now owns 5,891 shares in the company, valued at $1,035,402.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 660 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $143.59, for a total value of $94,769.40. Following the transaction, the chief accounting officer now directly owns 27,920 shares in the company, valued at approximately $4,009,032.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 253,209 shares of company stock valued at $36,711,144. Insiders own 12.99% of the company’s stock.

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.