Level Financial Advisors Sells 100 Shares of Alphabet Inc. (NASDAQ:GOOG)

Level Financial Advisors trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 6.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,360 shares of the information services provider’s stock after selling 100 shares during the period. Level Financial Advisors’ holdings in Alphabet were worth $207,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of GOOG. Fiduciary Alliance LLC lifted its holdings in shares of Alphabet by 1.4% in the first quarter. Fiduciary Alliance LLC now owns 4,867 shares of the information services provider’s stock valued at $762,000 after purchasing an additional 67 shares in the last quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO increased its position in shares of Alphabet by 0.8% in the first quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 8,588 shares of the information services provider’s stock worth $1,308,000 after acquiring an additional 68 shares in the last quarter. Cranbrook Wealth Management LLC increased its position in shares of Alphabet by 14.0% in the fourth quarter. Cranbrook Wealth Management LLC now owns 570 shares of the information services provider’s stock worth $80,000 after acquiring an additional 70 shares in the last quarter. Saratoga Research & Investment Management increased its position in shares of Alphabet by 0.5% in the first quarter. Saratoga Research & Investment Management now owns 14,706 shares of the information services provider’s stock worth $2,239,000 after acquiring an additional 72 shares in the last quarter. Finally, Manchester Financial Inc. increased its position in shares of Alphabet by 3.6% in the fourth quarter. Manchester Financial Inc. now owns 2,124 shares of the information services provider’s stock worth $299,000 after acquiring an additional 74 shares in the last quarter. 27.26% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on GOOG shares. Stifel Nicolaus increased their price objective on shares of Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Rosenblatt Securities lowered shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target for the company. in a report on Friday, June 28th. Oppenheimer raised their price target on shares of Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a report on Monday, April 8th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $165.00 price target on shares of Alphabet in a report on Thursday, April 11th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $167.86.

Alphabet Trading Up 0.4 %

NASDAQ GOOG opened at $187.39 on Friday. Alphabet Inc. has a 12 month low of $115.83 and a 12 month high of $187.62. 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 company has a market capitalization of $2.32 trillion, a price-to-earnings ratio of 28.74, a price-to-earnings-growth ratio of 1.41 and a beta of 1.05. The company’s fifty day moving average price is $176.58 and its two-hundred day moving average price is $157.00.

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. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The company had revenue of $80.54 billion for the quarter, compared to the consensus estimate of $78.75 billion. During the same period last year, the firm posted $1.17 EPS. The company’s revenue for the quarter was up 15.4% on a year-over-year basis. As a group, research analysts predict that Alphabet Inc. will post 7.6 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

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

Insider Transactions at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $186.74, for a total value of $4,201,650.00. Following the sale, the chief executive officer now directly owns 2,227,385 shares in the company, valued at approximately $415,941,874.90. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, SVP Prabhakar Raghavan sold 3,262 shares of Alphabet stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $183.99, for a total value of $600,175.38. Following the transaction, the senior vice president now owns 9 shares of the company’s stock, valued at approximately $1,655.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $186.74, for a total transaction of $4,201,650.00. Following the completion of the transaction, the chief executive officer now directly owns 2,227,385 shares in the company, valued at approximately $415,941,874.90. The disclosure for this sale can be found here. In the last three months, insiders have sold 146,288 shares of company stock worth $25,345,053. 12.99% of the stock is currently owned by insiders.

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.