Ifrah Financial Services Inc. Cuts Position in Alphabet Inc. (NASDAQ:GOOG)

Ifrah Financial Services Inc. trimmed its stake in Alphabet Inc. (NASDAQ:GOOG) by 4.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,044 shares of the information services provider’s stock after selling 193 shares during the period. Ifrah Financial Services Inc.’s holdings in Alphabet were worth $570,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in GOOG. ARS Wealth Advisors Group LLC raised its stake in shares of Alphabet by 8.9% during the 4th quarter. ARS Wealth Advisors Group LLC now owns 100,433 shares of the information services provider’s stock worth $14,154,000 after acquiring an additional 8,182 shares in the last quarter. Provence Wealth Management Group increased its position in shares of Alphabet by 5.7% during the fourth quarter. Provence Wealth Management Group now owns 6,274 shares of the information services provider’s stock worth $884,000 after purchasing an additional 338 shares in the last quarter. Blue Fin Capital Inc. lifted its holdings in shares of Alphabet by 1.6% during the 4th quarter. Blue Fin Capital Inc. now owns 30,633 shares of the information services provider’s stock valued at $4,317,000 after purchasing an additional 480 shares during the last quarter. VeraBank N.A. boosted its position in shares of Alphabet by 2.1% in the 4th quarter. VeraBank N.A. now owns 30,130 shares of the information services provider’s stock worth $4,246,000 after purchasing an additional 630 shares in the last quarter. Finally, Legacy Financial Advisors Inc. grew its stake in Alphabet by 7.0% during the 4th quarter. Legacy Financial Advisors Inc. now owns 23,480 shares of the information services provider’s stock worth $3,309,000 after buying an additional 1,546 shares during the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, SVP Prabhakar Raghavan sold 3,258 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $155.97, for a total value of $508,150.26. Following the transaction, the senior vice president now directly owns 144,685 shares of the company’s stock, valued at approximately $22,566,519.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Alphabet news, SVP Prabhakar Raghavan sold 3,258 shares of Alphabet stock in a transaction on Monday, April 1st. The shares were sold at an average price of $155.97, for a total transaction of $508,150.26. Following the sale, the senior vice president now owns 144,685 shares of the company’s stock, valued at approximately $22,566,519.45. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider John Kent Walker sold 48,076 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $142.20, for a total transaction of $6,836,407.20. Following the completion of the transaction, the insider now directly owns 12,725 shares in the company, valued at $1,809,495. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 275,129 shares of company stock worth $40,382,765. Company insiders own 12.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on GOOG. Susquehanna raised their price target on Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a report on Wednesday, January 31st. Oppenheimer upped their target price on Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research report on Monday, April 8th. Raymond James raised their price target 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. Morgan Stanley reiterated an “overweight” rating and issued a $165.00 price objective on shares of Alphabet in a research note on Thursday, April 11th. Finally, Stifel Nicolaus boosted their target price on shares of Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Alphabet currently has a consensus rating of “Buy” and a consensus target price of $165.67.

Alphabet Price Performance

Shares of Alphabet stock traded up $0.53 during trading hours on Friday, reaching $168.99. The stock had a trading volume of 22,767,056 shares, compared to its average volume of 22,353,938. Alphabet Inc. has a twelve month low of $104.70 and a twelve month high of $176.42. The company has a current ratio of 2.15, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $2.10 trillion, a PE ratio of 25.92, a PEG ratio of 1.26 and a beta of 1.02. The stock’s 50 day moving average is $151.46 and its 200 day moving average is $143.69.

Alphabet (NASDAQ:GOOG) last issued 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 for 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%. Alphabet’s revenue for the quarter was up 15.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.17 earnings per share. Equities analysts expect that Alphabet Inc. will post 7.66 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently declared a — dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 10th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Monday, June 10th.

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.