Hennion & Walsh Asset Management Inc. Trims Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Hennion & Walsh Asset Management Inc. trimmed its holdings in Alphabet Inc. (NASDAQ:GOOG) by 2.2% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 8,530 shares of the information services provider’s stock after selling 191 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Alphabet were worth $1,299,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. AXQ Capital LP purchased a new position in Alphabet during the 3rd quarter worth $804,000. Evergreen Capital Management LLC increased its holdings in Alphabet by 0.8% during 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 during the period. Legacy Advisors LLC increased its holdings in Alphabet by 13.7% during the 3rd quarter. Legacy Advisors LLC now owns 35,489 shares of the information services provider’s stock worth $4,355,000 after purchasing an additional 4,270 shares during the period. Lakeshore Financial Planning Inc. purchased a new position in Alphabet during the 3rd quarter worth $513,000. Finally, LaSalle St. Investment Advisors LLC increased its holdings in Alphabet by 14.8% during the 3rd quarter. LaSalle St. Investment Advisors LLC now owns 2,799 shares of the information services provider’s stock worth $369,000 after purchasing an additional 360 shares during the period. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on GOOG. Rosenblatt Securities downgraded Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective on the stock. in a report on Friday. Morgan Stanley reaffirmed an “overweight” rating and set a $165.00 target price on shares of Alphabet in a research report on Thursday, April 11th. Oppenheimer increased their target price on Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research report on Monday, April 8th. Finally, Stifel Nicolaus increased their target price on Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $167.86.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $154.79, for a total value of $105,566.78. Following the completion of the transaction, the chief accounting officer now owns 29,284 shares in the company, valued at approximately $4,532,870.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $177.40, for a total transaction of $3,991,500.00. Following the completion of the transaction, the chief executive officer now owns 2,213,011 shares in the company, valued at approximately $392,588,151.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $154.79, for a total value of $105,566.78. Following the transaction, the chief accounting officer now owns 29,284 shares of the company’s stock, valued at approximately $4,532,870.36. The disclosure for this sale can be found here. Insiders sold 143,026 shares of company stock worth $24,026,243 in the last 90 days. Insiders own 12.99% of the company’s stock.

Alphabet Stock Down 1.8 %

Alphabet stock opened at $183.42 on Monday. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.15. The stock has a market capitalization of $2.27 trillion, a price-to-earnings ratio of 28.13, a PEG ratio of 1.38 and a beta of 1.01. Alphabet Inc. has a 1-year low of $115.83 and a 1-year high of $187.50. The business has a fifty day moving average price of $174.40 and a 200-day moving average price of $155.84.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data 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 firm 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%. The business’s quarterly revenue was up 15.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.17 EPS. Equities research analysts forecast that Alphabet Inc. will post 7.6 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently announced a — dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 10th were paid a $0.20 dividend. The ex-dividend date of this dividend was Monday, June 10th. Alphabet’s dividend payout ratio (DPR) is 12.27%.

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.