Abbot Financial Management Inc. Sells 100 Shares of Alphabet Inc. (NASDAQ:GOOG)

Abbot Financial Management Inc. decreased its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 7.2% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 1,297 shares of the information services provider’s stock after selling 100 shares during the period. Abbot Financial Management Inc.’s holdings in Alphabet were worth $203,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. ARQ Wealth Advisors LLC boosted its stake in Alphabet by 39.3% during the fourth quarter. ARQ Wealth Advisors LLC now owns 4,964 shares of the information services provider’s stock valued at $945,000 after buying an additional 1,400 shares during the period. Independence Bank of Kentucky raised its holdings in shares of Alphabet by 10.2% in 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 acquiring an additional 1,376 shares in the last quarter. Harvest Investment Services LLC boosted its position in shares of 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 acquiring an additional 138 shares during the last quarter. Fermata Advisors LLC grew its holdings in shares of Alphabet by 2.7% during the first quarter. Fermata Advisors LLC now owns 9,771 shares of the information services provider’s stock worth $1,527,000 after purchasing an additional 259 shares in the last quarter. Finally, jvl associates llc increased its position in shares of Alphabet by 3.5% in the first quarter. jvl associates llc now owns 10,055 shares of the information services provider’s stock worth $1,571,000 after purchasing an additional 343 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insider Buying and Selling at Alphabet

In other news, Director John L. Hennessy sold 400 shares of the firm’s stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $181.98, for a total value of $72,792.00. Following the completion of the transaction, the director owned 6,013 shares in the company, valued at $1,094,245.74. This trade represents a 6.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $184.38, for a total value of $5,992,350.00. Following the completion of the sale, the chief executive officer directly owned 2,527,392 shares in the company, valued at approximately $466,000,536.96. The trade was a 1.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 249,409 shares of company stock valued at $43,523,710. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Price Performance

Shares of Alphabet stock opened at $194.08 on Monday. The business has a 50 day moving average of $176.86 and a 200 day moving average of $174.38. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $208.70. The company has a market cap of $2.36 trillion, a PE ratio of 20.67, a P/E/G ratio of 1.31 and a beta of 1.01. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping the consensus estimate of $2.12 by $0.19. The firm had revenue of $96.43 billion during the quarter, compared to analysts’ expectations of $93.67 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The company’s quarterly revenue was up 13.8% compared to the same quarter last year. During the same period last year, the company posted $1.89 EPS. As a group, equities research analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be issued a $0.21 dividend. The ex-dividend date is Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.43%. Alphabet’s dividend payout ratio (DPR) is presently 8.95%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Citigroup reiterated a “sell” rating on shares of Alphabet in a research report on Wednesday, April 23rd. Westpark Capital restated a “buy” rating and set a $210.00 price objective on shares of Alphabet in a research report on Friday, April 25th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $171.00 target price on shares of Alphabet in a research report on Friday, April 25th. Roth Capital restated a “buy” rating on shares of Alphabet in a research report on Wednesday, July 9th. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $220.00 price objective on shares of Alphabet in a report on Monday, June 2nd. Three research analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have assigned a buy rating and five have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $215.19.

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.