BluePath Capital Management LLC Lowers Holdings in Alphabet Inc. (NASDAQ:GOOG)

BluePath Capital Management LLC decreased its stake in Alphabet Inc. (NASDAQ:GOOG) by 39.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,480 shares of the information services provider’s stock after selling 2,944 shares during the quarter. BluePath Capital Management LLC’s holdings in Alphabet were worth $682,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. KFG Wealth Management LLC acquired a new position in Alphabet in the 1st quarter worth about $484,000. Valeo Financial Advisors LLC raised its holdings in Alphabet by 2.1% in the 1st quarter. Valeo Financial Advisors LLC now owns 172,364 shares of the information services provider’s stock worth $26,244,000 after purchasing an additional 3,508 shares during the period. Iyo Bank Ltd. raised its holdings in Alphabet by 19.7% in the 1st quarter. Iyo Bank Ltd. now owns 87,390 shares of the information services provider’s stock worth $13,306,000 after purchasing an additional 14,370 shares during the period. Tradewinds Capital Management LLC raised its holdings in Alphabet by 11.8% in the 1st quarter. Tradewinds Capital Management LLC now owns 4,395 shares of the information services provider’s stock worth $669,000 after purchasing an additional 464 shares during the period. Finally, Sivia Capital Partners LLC raised its holdings in Alphabet by 12.1% in the 1st quarter. Sivia Capital Partners LLC now owns 20,700 shares of the information services provider’s stock worth $3,152,000 after purchasing an additional 2,231 shares during the period. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on GOOG shares. Oppenheimer increased their target price on Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a report on Monday, April 8th. Stifel Nicolaus increased their target price on Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Morgan Stanley reissued an “overweight” rating and set a $165.00 target price on shares of Alphabet in a report on Thursday, April 11th. Finally, Rosenblatt Securities cut Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price for the company. in a report on Friday, June 28th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and an average target price of $167.86.

Alphabet Trading Up 0.4 %

Shares of Alphabet stock opened at $187.39 on Thursday. The firm has a market capitalization of $2.32 trillion, a price-to-earnings ratio of 28.74, a PEG ratio of 1.40 and a beta of 1.05. Alphabet Inc. has a fifty-two week low of $115.83 and a fifty-two week high of $187.62. 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 50 day moving average of $175.47 and a 200 day moving average of $156.57.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate 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 return on equity of 29.52% and a net margin of 25.90%. The firm’s revenue for the quarter was up 15.4% compared to the same quarter last year. During the same period in the prior year, the business posted $1.17 earnings per share. As a group, research analysts predict that Alphabet Inc. will post 7.6 earnings per share for the current year.

Alphabet Announces Dividend

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

Insider Buying and Selling

In other news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $166.67, for a total transaction of $113,668.94. Following the completion of the transaction, the chief accounting officer now directly owns 29,284 shares in the company, valued at $4,880,764.28. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $166.67, for a total transaction of $113,668.94. Following the completion of the transaction, the chief accounting officer now directly owns 29,284 shares in the company, valued at $4,880,764.28. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $157.41, for a total value of $3,541,725.00. Following the completion of the sale, the chief executive officer now owns 2,303,011 shares in the company, valued at $362,516,961.51. The disclosure for this sale can be found here. Over the last three months, insiders sold 146,288 shares of company stock worth $25,345,053. Company insiders own 12.99% of the company’s stock.

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.