Alpha Omega Wealth Management LLC Lowers Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Alpha Omega Wealth Management LLC reduced its stake in Alphabet Inc. (NASDAQ:GOOG) by 1.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,850 shares of the information services provider’s stock after selling 240 shares during the quarter. Alpha Omega Wealth Management LLC’s holdings in Alphabet were worth $2,566,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Becker Capital Management Inc. boosted its holdings in Alphabet by 1.8% in the third quarter. Becker Capital Management Inc. now owns 39,385 shares of the information services provider’s stock valued at $5,193,000 after acquiring an additional 697 shares in the last quarter. Akaris Global Partners LP lifted its position in Alphabet by 61.7% during the third quarter. Akaris Global Partners LP now owns 164,000 shares of the information services provider’s stock valued at $21,623,000 after buying an additional 62,600 shares during the period. Axxcess Wealth Management LLC boosted its stake in Alphabet by 128.1% in the 3rd quarter. Axxcess Wealth Management LLC now owns 106,428 shares of the information services provider’s stock worth $13,520,000 after purchasing an additional 59,778 shares in the last quarter. AXQ Capital LP bought a new position in Alphabet in the 3rd quarter worth about $804,000. Finally, Evergreen Capital Management LLC boosted its stake in Alphabet by 0.8% in the 3rd quarter. Evergreen Capital Management LLC now owns 234,565 shares of the information services provider’s stock worth $30,927,000 after purchasing an additional 1,810 shares in the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Alphabet Price Performance

NASDAQ GOOG opened at $183.42 on Friday. Alphabet Inc. has a 52 week low of $115.83 and a 52 week high of $187.50. The firm has a market capitalization of $2.27 trillion, a P/E ratio of 28.13, a PEG ratio of 1.38 and a beta of 1.01. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. The company has a 50-day moving average price of $174.40 and a 200-day moving average price of $155.68.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.51 by $0.38. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The firm had revenue of $80.54 billion during the quarter, compared to analyst estimates of $78.75 billion. During the same quarter in the prior year, the firm earned $1.17 EPS. The business’s revenue for the quarter was up 15.4% compared to the same quarter last year. Equities research analysts anticipate that Alphabet Inc. will post 7.6 earnings per share for the current year.

Alphabet Announces Dividend

The firm 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 of this dividend was Monday, June 10th. Alphabet’s payout ratio is currently 12.27%.

Insider Activity

In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now directly owns 2,325,513 shares of the company’s stock, valued at approximately $362,012,608.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now directly owns 2,325,513 shares of the company’s stock, valued at approximately $362,012,608.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Prabhakar Raghavan sold 3,258 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was 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 of the company’s stock, valued at $22,566,519.45. The disclosure for this sale can be found here. Insiders sold 146,284 shares of company stock valued at $24,534,393 in the last quarter. 12.99% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Morgan Stanley restated an “overweight” rating and set a $165.00 target price on shares of Alphabet in a research note on Thursday, April 11th. Rosenblatt Securities cut shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price on the stock. in a research note on Friday. Oppenheimer upped their target price on shares of Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research note on Monday, April 8th. Finally, Stifel Nicolaus upped their target price on shares of Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus target price of $167.86.

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.