Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Resurgent Financial Advisors LLC

Resurgent Financial Advisors LLC trimmed its holdings in Alphabet Inc. (NASDAQ:GOOG) by 7.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,398 shares of the information services provider’s stock after selling 118 shares during the quarter. Resurgent Financial Advisors LLC’s holdings in Alphabet were worth $266,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Principal Financial Group Inc. grew its stake in shares of Alphabet by 2.5% in the 3rd quarter. Principal Financial Group Inc. now owns 11,024,276 shares of the information services provider’s stock valued at $1,843,149,000 after purchasing an additional 264,962 shares during the last quarter. Morse Asset Management Inc acquired a new stake in shares of Alphabet during the third quarter worth $166,000. McIlrath & Eck LLC grew its position in Alphabet by 12.9% in the 3rd quarter. McIlrath & Eck LLC now owns 13,575 shares of the information services provider’s stock valued at $2,270,000 after buying an additional 1,546 shares during the last quarter. Passumpsic Savings Bank acquired a new position in Alphabet in the 3rd quarter valued at $263,000. Finally, Advisory Resource Group raised its position in Alphabet by 8.7% during the 3rd quarter. Advisory Resource Group now owns 10,277 shares of the information services provider’s stock worth $1,718,000 after buying an additional 822 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Price Performance

GOOG stock opened at $155.50 on Thursday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. The stock’s 50 day moving average price is $168.53 and its 200 day moving average price is $177.67. The firm has a market cap of $1.90 trillion, a P/E ratio of 19.32, a PEG ratio of 1.34 and a beta of 1.04. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $208.70.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, beating analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. On average, sell-side analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were issued a dividend of $0.20 per share. The ex-dividend date was Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.51%. Alphabet’s dividend payout ratio (DPR) is presently 9.94%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Morgan Stanley reaffirmed an “overweight” rating on shares of Alphabet in a report on Wednesday, February 5th. Westpark Capital assumed coverage on Alphabet in a report on Tuesday, April 1st. They issued a “buy” rating and a $210.00 price objective on the stock. KeyCorp cut their target price on Alphabet from $202.00 to $185.00 and set an “overweight” rating for the company in a research note on Wednesday, April 9th. Rosenblatt Securities restated a “neutral” rating on shares of Alphabet in a research note on Wednesday, March 19th. Finally, Oppenheimer upped their price objective on Alphabet from $215.00 to $225.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. One analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $210.88.

Insider Activity

In related news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total transaction of $5,153,200.00. Following the transaction, the chief executive officer now directly owns 2,717,696 shares in the company, valued at approximately $430,917,877.76. This represents a 1.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider John Kent Walker sold 17,690 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $185.51, for a total value of $3,281,671.90. Following the completion of the sale, the insider now directly owns 43,111 shares in the company, valued at approximately $7,997,521.61. The trade was a 29.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 115,663 shares of company stock valued at $20,286,447 over the last 90 days. Insiders own 12.99% of the company’s stock.

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.