Fishman Jay A Ltd. MI Sells 19,465 Shares of Alphabet Inc. (NASDAQ:GOOG)

Fishman Jay A Ltd. MI reduced its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 27.3% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 51,840 shares of the information services provider’s stock after selling 19,465 shares during the quarter. Alphabet makes up about 0.9% of Fishman Jay A Ltd. MI’s holdings, making the stock its 21st biggest holding. Fishman Jay A Ltd. MI’s holdings in Alphabet were worth $8,099,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. ARQ Wealth Advisors LLC increased its position in Alphabet by 39.3% during the 4th quarter. ARQ Wealth Advisors LLC now owns 4,964 shares of the information services provider’s stock valued at $945,000 after purchasing an additional 1,400 shares during the period. Independence Bank of Kentucky increased its position in Alphabet by 10.2% during the 1st quarter. Independence Bank of Kentucky now owns 14,907 shares of the information services provider’s stock valued at $2,329,000 after purchasing an additional 1,376 shares during the period. Harvest Investment Services LLC increased its position in Alphabet by 3.3% during the 4th quarter. Harvest Investment Services LLC now owns 4,329 shares of the information services provider’s stock valued at $824,000 after purchasing an additional 138 shares during the period. North Forty Two & Co. purchased a new position in Alphabet during the 4th quarter valued at $281,000. Finally, Fermata Advisors LLC increased its position in Alphabet by 2.7% during the 1st quarter. Fermata Advisors LLC now owns 9,771 shares of the information services provider’s stock valued at $1,527,000 after purchasing an additional 259 shares during the period. 27.26% of the stock is currently owned by institutional investors.

Alphabet Stock Performance

Shares of Alphabet stock opened at $167.73 on Friday. The stock has a market cap of $2.04 trillion, a price-to-earnings ratio of 18.70, a PEG ratio of 1.18 and a beta of 1.01. The firm’s 50-day moving average is $166.31 and its 200 day moving average is $176.39. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $208.70. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.77 and a quick ratio of 1.77.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.02 by $0.79. The company had revenue of $90.23 billion for the quarter, compared to analysts’ expectations of $89.30 billion. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. Alphabet’s revenue was up 12.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.89 EPS. Sell-side analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 9th were issued a $0.21 dividend. The ex-dividend date was Monday, June 9th. This represents a $0.84 annualized dividend and a yield of 0.50%. This is a boost from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s dividend payout ratio (DPR) is currently 9.36%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on GOOG. JPMorgan Chase & Co. boosted their price objective on shares of Alphabet from $180.00 to $195.00 and gave the company an “overweight” rating in a research report on Friday, April 25th. Rosenblatt Securities raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 25th. KeyCorp reduced their target price on shares of Alphabet from $202.00 to $185.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 9th. Citigroup reaffirmed a “sell” rating on shares of Alphabet in a research report on Wednesday, April 23rd. Finally, UBS Group reduced their target price on shares of Alphabet from $209.00 to $173.00 and set a “neutral” rating on the stock in a research report on Friday, April 11th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have given a buy rating and five have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and a consensus target price of $204.88.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 673 shares of the firm’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total value of $104,537.09. Following the transaction, the chief accounting officer now directly owns 15,303 shares of the company’s stock, valued at approximately $2,377,014.99. This trade represents a 4.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider John Kent Walker sold 11,764 shares of the business’s stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $166.84, for a total value of $1,962,705.76. Following the sale, the insider now owns 49,037 shares of the company’s stock, valued at approximately $8,181,333.08. This represents a 19.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 228,070 shares of company stock worth $37,745,632. 12.99% of the stock is owned by insiders.

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.