Butensky & Cohen Financial Security Inc. Sells 80 Shares of Alphabet Inc. (NASDAQ:GOOG)

Butensky & Cohen Financial Security Inc. reduced its stake in Alphabet Inc. (NASDAQ:GOOG) by 5.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,430 shares of the information services provider’s stock after selling 80 shares during the period. Butensky & Cohen Financial Security Inc.’s holdings in Alphabet were worth $218,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. JPMorgan Chase & Co. raised its position in shares of Alphabet by 11.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 95,941,129 shares of the information services provider’s stock worth $12,649,838,000 after acquiring an additional 9,703,425 shares in the last quarter. Capital International Investors raised its stake in shares of Alphabet by 1.1% during the 4th quarter. Capital International Investors now owns 80,246,520 shares of the information services provider’s stock worth $11,309,370,000 after acquiring an additional 862,550 shares in the last quarter. Northern Trust Corp raised its stake in shares of Alphabet by 2.3% during the 3rd quarter. Northern Trust Corp now owns 57,269,184 shares of the information services provider’s stock worth $7,550,942,000 after acquiring an additional 1,275,060 shares in the last quarter. Norges Bank acquired a new stake in Alphabet in the fourth quarter valued at approximately $4,101,040,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in Alphabet by 1.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 28,800,413 shares of the information services provider’s stock valued at $4,058,842,000 after acquiring an additional 481,376 shares in the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Down 1.3 %

GOOG opened at $176.45 on Thursday. The company has a fifty day moving average of $170.85 and a two-hundred day moving average of $153.29. The stock has a market capitalization of $2.18 trillion, a price-to-earnings ratio of 27.06, a PEG ratio of 1.31 and a beta of 1.01. Alphabet Inc. has a fifty-two week low of $115.83 and a fifty-two week high of $182.08. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15.

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, topping analysts’ consensus estimates of $1.51 by $0.38. The company had revenue of $80.54 billion during the quarter, compared to analysts’ expectations of $78.75 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. Alphabet’s quarterly revenue was up 15.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.17 EPS. On average, research analysts expect that Alphabet Inc. will post 7.69 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently declared a — dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 10th were given a dividend of $0.20 per share. The ex-dividend date was Monday, June 10th. Alphabet’s payout ratio is presently 12.27%.

Insider Activity at Alphabet

In other Alphabet news, SVP Prabhakar Raghavan sold 3,258 shares of Alphabet stock in a transaction on Monday, April 1st. The stock was sold at an average price of $155.97, for a total value of $508,150.26. Following the sale, the senior vice president now owns 144,685 shares in the company, valued at $22,566,519.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Alphabet news, Director John L. Hennessy sold 1,500 shares of the stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $177.92, for a total transaction of $266,880.00. Following the completion of the transaction, the director now owns 3,727 shares of the company’s stock, valued at $663,107.84. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Prabhakar Raghavan sold 3,258 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $155.97, for a total transaction of $508,150.26. Following the completion of the sale, the senior vice president now directly owns 144,685 shares in the company, valued at $22,566,519.45. The disclosure for this sale can be found here. Over the last three months, insiders have sold 135,958 shares of company stock worth $22,383,553. Insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

GOOG has been the subject of a number of recent analyst reports. Stifel Nicolaus raised their price objective on Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Morgan Stanley restated an “overweight” rating and set a $165.00 price target on shares of Alphabet in a research note on Thursday, April 11th. Finally, Oppenheimer increased their price objective on shares of Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research report on Monday, April 8th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $165.67.

Alphabet 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.