Navis Wealth Advisors LLC cut its position in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 3.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,380 shares of the information services provider’s stock after selling 140 shares during the period. Alphabet accounts for 0.8% of Navis Wealth Advisors LLC’s investment portfolio, making the stock its 29th largest holding. Navis Wealth Advisors LLC’s holdings in Alphabet were worth $617,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of the company. JPMorgan Chase & Co. lifted its stake in Alphabet by 11.3% during the third quarter. JPMorgan Chase & Co. now owns 95,941,129 shares of the information services provider’s stock worth $12,649,838,000 after purchasing an additional 9,703,425 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in Alphabet during the fourth quarter worth approximately $11,600,970,000. FMR LLC lifted its position in shares of Alphabet by 3.8% during the 3rd quarter. FMR LLC now owns 120,234,117 shares of the information services provider’s stock worth $15,852,868,000 after buying an additional 4,348,188 shares during the last quarter. Cerity Partners LLC boosted its holdings in shares of Alphabet by 198.7% in the 4th quarter. Cerity Partners LLC now owns 3,882,882 shares of the information services provider’s stock valued at $547,215,000 after buying an additional 2,583,128 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its position in shares of Alphabet by 93.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 4,591,383 shares of the information services provider’s stock valued at $647,064,000 after buying an additional 2,222,950 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at Alphabet
In other Alphabet news, Director John L. Hennessy sold 2,100 shares of Alphabet stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $175.76, for a total value of $369,096.00. Following the completion of the sale, the director now owns 5,891 shares in the company, valued at approximately $1,035,402.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director John L. Hennessy sold 2,100 shares of the firm’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $175.76, for a total value of $369,096.00. Following the transaction, the director now directly owns 5,891 shares in the company, valued at approximately $1,035,402.16. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $132.70, for a total transaction of $2,985,750.00. Following the completion of the transaction, the chief executive officer now directly owns 2,332,691 shares in the company, valued at approximately $309,548,095.70. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 253,209 shares of company stock worth $36,711,144. 12.99% of the stock is currently owned by insiders.
Alphabet Stock Down 3.3 %
Alphabet (NASDAQ:GOOG – Get Free Report) last announced its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.51 by $0.38. The business had revenue of $80.54 billion for the quarter, compared to the consensus estimate of $78.75 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The company’s quarterly revenue was up 15.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.17 earnings per share. Equities research analysts anticipate that Alphabet Inc. will post 6.8 EPS for the current fiscal year.
Alphabet Announces Dividend
The firm also recently disclosed a — dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 10th will be given a $0.20 dividend. The ex-dividend date is Monday, June 10th.
Analyst Ratings Changes
GOOG has been the subject of a number of research reports. Susquehanna boosted their price target on shares of Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a research report on Wednesday, January 31st. Oppenheimer raised their price target on Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research note on Monday, April 8th. Stifel Nicolaus increased their price objective on Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Raymond James raised their target price on shares of Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 24th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $165.00 price target on shares of Alphabet in a research note on Thursday, April 11th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $165.67.
Read Our Latest Research Report on GOOG
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.
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