Alpha Cubed Investments LLC Sells 1,524 Shares of Alphabet Inc. (NASDAQ:GOOG)

Alpha Cubed Investments LLC decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 60,866 shares of the information services provider’s stock after selling 1,524 shares during the period. Alpha Cubed Investments LLC’s holdings in Alphabet were worth $8,578,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in GOOG. Tandem Wealth Advisors LLC acquired a new position in shares of Alphabet during the 3rd quarter worth about $25,000. Bruce G. Allen Investments LLC acquired a new position in shares of Alphabet during the 4th quarter worth about $26,000. Equitec Proprietary Markets LLC acquired a new position in shares of Alphabet during the 4th quarter worth about $28,000. Buck Wealth Strategies LLC acquired a new position in shares of Alphabet during the 3rd quarter worth about $32,000. Finally, Barometer Capital Management Inc. acquired a new position in shares of Alphabet during the 3rd quarter worth about $32,000. Institutional investors own 27.26% of the company’s stock.

Analyst Ratings Changes

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

Insider Activity

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $146.29, for a total transaction of $3,291,525.00. Following the completion of the transaction, the chief executive officer now directly owns 2,377,691 shares in the company, valued at $347,832,416.39. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $146.29, for a total transaction of $3,291,525.00. Following the completion of the transaction, the chief executive officer now directly owns 2,377,691 shares in the company, valued at $347,832,416.39. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Ruth Porat sold 48,077 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $137.22, for a total transaction of $6,597,125.94. Following the transaction, the chief financial officer now owns 1,777,106 shares of the company’s stock, valued at $243,854,485.32. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 253,289 shares of company stock worth $36,724,534. Corporate insiders own 12.99% of the company’s stock.

Alphabet Trading Up 0.5 %

Shares of GOOG stock opened at $165.53 on Wednesday. The firm has a 50 day moving average price of $150.09 and a two-hundred day moving average price of $143.16. 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 company has a market capitalization of $2.06 trillion, a PE ratio of 25.25, a price-to-earnings-growth ratio of 1.31 and a beta of 1.05. Alphabet Inc. has a 12-month low of $104.50 and a 12-month high of $176.42.

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, beating analysts’ consensus estimates of $1.51 by $0.38. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The company had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $78.75 billion. During the same period in the previous year, the business earned $1.17 earnings per share. The firm’s quarterly revenue was up 15.4% on a year-over-year basis. As a group, analysts predict that Alphabet Inc. will post 7.46 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently declared 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 of this dividend 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.