Hoffman Alan N Investment Management Sells 840 Shares of Alphabet Inc. (NASDAQ:GOOG)

Hoffman Alan N Investment Management trimmed its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 4.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 19,975 shares of the information services provider’s stock after selling 840 shares during the quarter. Alphabet comprises 1.7% of Hoffman Alan N Investment Management’s investment portfolio, making the stock its 6th biggest holding. Hoffman Alan N Investment Management’s holdings in Alphabet were worth $3,041,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. PAX Financial Group LLC acquired a new stake in shares of Alphabet in the 3rd quarter valued at approximately $209,000. Azimuth Capital Investment Management LLC lifted its holdings in Alphabet by 1.5% in the third quarter. Azimuth Capital Investment Management LLC now owns 14,425 shares of the information services provider’s stock valued at $1,902,000 after acquiring an additional 220 shares during the period. NWI Management LP lifted its holdings in Alphabet by 465.1% in the third quarter. NWI Management LP now owns 486,000 shares of the information services provider’s stock valued at $64,079,000 after acquiring an additional 400,000 shares during the period. Fuller & Thaler Asset Management Inc. boosted its position in shares of Alphabet by 5.4% during the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 17,841 shares of the information services provider’s stock worth $2,352,000 after purchasing an additional 914 shares in the last quarter. Finally, Rodgers Brothers Inc. grew its stake in shares of Alphabet by 9.2% during the 3rd quarter. Rodgers Brothers Inc. now owns 20,118 shares of the information services provider’s stock worth $2,653,000 after purchasing an additional 1,700 shares during the period. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Stock Up 0.7 %

Shares of NASDAQ GOOG opened at $177.71 on Friday. The firm’s 50-day moving average is $171.19 and its two-hundred day moving average is $153.46. The company has a market capitalization of $2.20 trillion, a PE ratio of 27.26, a price-to-earnings-growth ratio of 1.31 and a beta of 1.01. Alphabet Inc. has a 12-month low of $115.83 and a 12-month high of $182.08. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.15.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.51 by $0.38. The firm had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $78.75 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The company’s quarterly revenue was up 15.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.17 EPS. Equities analysts anticipate that Alphabet Inc. will post 7.69 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently disclosed a — dividend, which was paid on Monday, June 17th. Investors 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 dividend payout ratio is presently 12.27%.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Stifel Nicolaus boosted their price objective on shares of Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Oppenheimer boosted their price target on Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research note on Monday, April 8th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $165.00 price objective on shares of Alphabet in a research note on Thursday, April 11th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $165.67.

Insider Buying and Selling

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $155.67, for a total value of $3,502,575.00. Following the transaction, the chief executive officer now directly owns 2,325,513 shares in the company, valued at approximately $362,012,608.71. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $155.67, for a total value of $3,502,575.00. Following the completion of the transaction, the chief executive officer now directly owns 2,325,513 shares in the company, valued at approximately $362,012,608.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John L. Hennessy sold 1,500 shares of the stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $177.92, for a total value of $266,880.00. Following the transaction, the director now directly owns 3,727 shares in the company, valued at approximately $663,107.84. The disclosure for this sale can be found here. In the last quarter, insiders sold 135,958 shares of company stock worth $22,383,553. 12.99% of the stock is owned by corporate insiders.

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.