Horizon Wealth Management LLC Sells 607 Shares of Alphabet Inc. (NASDAQ:GOOG)

Horizon Wealth Management LLC lowered its stake in Alphabet Inc. (NASDAQ:GOOG) by 5.6% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,308 shares of the information services provider’s stock after selling 607 shares during the quarter. Alphabet accounts for approximately 0.4% of Horizon Wealth Management LLC’s portfolio, making the stock its 24th largest position. Horizon Wealth Management LLC’s holdings in Alphabet were worth $1,569,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Diversified Trust Co grew its position in Alphabet by 9.3% in the 1st quarter. Diversified Trust Co now owns 106,400 shares of the information services provider’s stock valued at $16,200,000 after purchasing an additional 9,081 shares during the period. Aviance Capital Partners LLC grew its position in Alphabet by 109.9% in the 1st quarter. Aviance Capital Partners LLC now owns 15,240 shares of the information services provider’s stock valued at $2,320,000 after purchasing an additional 7,979 shares during the period. Mirador Capital Partners LP boosted its holdings in Alphabet by 3.7% during the 1st quarter. Mirador Capital Partners LP now owns 108,265 shares of the information services provider’s stock worth $16,484,000 after acquiring an additional 3,863 shares during the last quarter. Chapin Davis Inc. boosted its holdings in Alphabet by 2.9% during the 1st quarter. Chapin Davis Inc. now owns 9,840 shares of the information services provider’s stock worth $1,498,000 after acquiring an additional 275 shares during the last quarter. Finally, Pettinga Financial Advisors LLC boosted its holdings in Alphabet by 10.2% during the 1st quarter. Pettinga Financial Advisors LLC now owns 12,580 shares of the information services provider’s stock worth $1,915,000 after acquiring an additional 1,160 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Alphabet Trading Up 0.6 %

Shares of GOOG stock opened at $184.49 on Tuesday. 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 firm has a market cap of $2.28 trillion, a P/E ratio of 28.30, a PEG ratio of 1.38 and a beta of 1.05. The company has a 50 day moving average of $174.40 and a 200-day moving average of $155.84. Alphabet Inc. has a 12-month low of $115.83 and a 12-month high of $187.50.

Alphabet (NASDAQ:GOOG) last released its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.51 by $0.38. The business 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 business’s revenue for the quarter was up 15.4% on a year-over-year basis. During the same period last year, the business posted $1.17 earnings per share. Sell-side analysts anticipate that Alphabet Inc. will post 7.6 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently disclosed 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 is currently 12.27%.

Analyst Ratings Changes

A number of equities analysts have issued reports on GOOG shares. Stifel Nicolaus lifted 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 lifted their price objective on shares of Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a report on Monday, April 8th. Rosenblatt Securities downgraded shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective on the stock. in a report on Friday. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $165.00 price objective on shares of Alphabet in a report on Thursday, April 11th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $167.86.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $166.67, for a total value of $113,668.94. Following the sale, the chief accounting officer now directly owns 29,284 shares in the company, valued at approximately $4,880,764.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $177.40, for a total value of $3,991,500.00. Following the sale, the chief executive officer now directly owns 2,213,011 shares in the company, valued at approximately $392,588,151.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $166.67, for a total value of $113,668.94. Following the completion of the sale, the chief accounting officer now owns 29,284 shares in the company, valued at $4,880,764.28. The disclosure for this sale can be found here. In the last three months, insiders have sold 142,344 shares of company stock worth $23,920,676. Company insiders own 12.99% of the company’s stock.

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.