Hudson Edge Investment Partners Inc. Sells 5,760 Shares of Alphabet Inc. (NASDAQ:GOOG)

Hudson Edge Investment Partners Inc. lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 33.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 11,535 shares of the information services provider’s stock after selling 5,760 shares during the quarter. Hudson Edge Investment Partners Inc.’s holdings in Alphabet were worth $1,626,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Partnership Wealth Management LLC bought a new stake in Alphabet during the 4th quarter valued at approximately $26,000. Bruce G. Allen Investments LLC bought a new stake in Alphabet during the 4th quarter valued at approximately $26,000. Equitec Proprietary Markets LLC bought a new stake in Alphabet during the 4th quarter valued at approximately $28,000. DiNuzzo Private Wealth Inc. bought a new stake in Alphabet during the 4th quarter valued at approximately $32,000. Finally, Barometer Capital Management Inc. bought a new stake in Alphabet during the 3rd quarter valued at approximately $32,000. Institutional investors own 27.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Oppenheimer increased their target price on Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research note 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 research note on Tuesday, April 16th. Finally, Morgan Stanley restated an “overweight” rating and set a $165.00 target price on shares of Alphabet in a research note on Thursday, April 11th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Alphabet presently has a consensus rating of “Buy” and an average target price of $165.67.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total value of $2,985,750.00. Following the completion of the transaction, the chief executive officer now directly owns 2,332,691 shares of the company’s stock, valued at approximately $309,548,095.70. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CFO Ruth Porat sold 48,077 shares of the stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $137.22, for a total transaction of $6,597,125.94. Following the sale, the chief financial officer now directly owns 1,777,106 shares in the company, valued at approximately $243,854,485.32. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total value of $2,985,750.00. Following the sale, the chief executive officer now owns 2,332,691 shares in the company, valued at $309,548,095.70. The disclosure for this sale can be found here. In the last ninety days, insiders sold 205,835 shares of company stock valued at $31,190,652. Corporate insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

Alphabet stock traded up $0.46 during trading hours on Monday, hitting $174.42. The stock had a trading volume of 18,376,370 shares, compared to its average volume of 21,804,484. The company has a 50-day moving average of $164.93 and a two-hundred day moving average of $149.78. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. The company has a market cap of $2.16 trillion, a PE ratio of 26.57, a price-to-earnings-growth ratio of 1.29 and a beta of 1.01. Alphabet Inc. has a fifty-two week low of $115.83 and a fifty-two week high of $179.95.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.51 by $0.38. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The firm had revenue of $80.54 billion during the quarter, compared to analysts’ expectations of $78.75 billion. During the same quarter in the prior year, the firm posted $1.17 EPS. The company’s revenue for the quarter was up 15.4% on a year-over-year basis. On average, equities research analysts anticipate that Alphabet Inc. will post 7.69 EPS for the current fiscal year.

Alphabet Announces Dividend

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

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.