Tributary Capital Management LLC Sells 400 Shares of Alphabet Inc. (NASDAQ:GOOG)

Tributary Capital Management LLC lessened its stake in Alphabet Inc. (NASDAQ:GOOG) by 2.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,850 shares of the information services provider’s stock after selling 400 shares during the period. Tributary Capital Management LLC’s holdings in Alphabet were worth $2,109,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Partnership Wealth Management LLC purchased a new position in shares of Alphabet during the fourth quarter worth approximately $26,000. Bruce G. Allen Investments LLC purchased a new stake in shares of Alphabet in the 4th quarter worth $26,000. Equitec Proprietary Markets LLC bought a new position in shares of Alphabet during the 4th quarter worth $28,000. DiNuzzo Private Wealth Inc. purchased a new position in shares of Alphabet during the fourth quarter valued at $32,000. Finally, Richardson Financial Services Inc. bought a new stake in shares of Alphabet in the fourth quarter valued at about $34,000. Institutional investors own 27.26% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOG has been the topic of a number of analyst reports. Rosenblatt Securities downgraded Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target on the stock. in a report on Friday. Morgan Stanley reiterated an “overweight” rating and issued a $165.00 target price on shares of Alphabet in a research note on Thursday, April 11th. Oppenheimer increased their price target 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. Finally, 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 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 stock. Based on data from MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus price target of $167.86.

Insider Buying and Selling at Alphabet

In other news, Director John L. Hennessy sold 800 shares of the company’s stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $159.56, for a total transaction of $127,648.00. Following the completion of the transaction, the director now directly owns 7,991 shares of the company’s stock, valued at approximately $1,275,043.96. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, Director John L. Hennessy sold 800 shares of the firm’s stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $159.56, for a total value of $127,648.00. Following the transaction, the director now directly owns 7,991 shares of the company’s stock, valued at approximately $1,275,043.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $157.41, for a total transaction of $3,541,725.00. Following the sale, the chief executive officer now directly owns 2,303,011 shares in the company, valued at approximately $362,516,961.51. The disclosure for this sale can be found here. In the last quarter, insiders sold 142,344 shares of company stock worth $23,920,676. Insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

Shares of GOOG opened at $183.85 on Tuesday. The stock has a 50-day moving average of $174.40 and a two-hundred day moving average of $155.84. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15. The stock has a market cap of $2.27 trillion, a P/E ratio of 28.30, a P/E/G ratio of 1.38 and a beta of 1.05. Alphabet Inc. has a one year low of $115.83 and a one year high of $187.50.

Alphabet (NASDAQ:GOOG) last posted its quarterly 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 company had revenue of $80.54 billion during the quarter, compared to analyst estimates of $78.75 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. Alphabet’s revenue for the quarter was up 15.4% compared to the same quarter last year. During the same period last year, the firm posted $1.17 EPS. As a group, research analysts predict that Alphabet Inc. will post 7.6 EPS for the current year.

Alphabet Dividend Announcement

The business also recently declared a — dividend, which was paid on Monday, June 17th. Shareholders 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 dividend payout ratio is currently 12.27%.

Alphabet Company 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.