Maltin Wealth Management Inc. Sells 108 Shares of Alphabet Inc. (NASDAQ:GOOG)

Maltin Wealth Management Inc. cut its stake in Alphabet Inc. (NASDAQ:GOOG) by 6.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,507 shares of the information services provider’s stock after selling 108 shares during the period. Maltin Wealth Management Inc.’s holdings in Alphabet were worth $229,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Sherbrooke Park Advisers LLC acquired a new position in Alphabet in the third quarter worth about $856,000. Caisse DE Depot ET Placement DU Quebec grew its stake in shares of Alphabet by 3.5% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,097,675 shares of the information services provider’s stock valued at $276,578,000 after purchasing an additional 71,504 shares during the period. Waverly Advisors LLC raised its holdings in shares of Alphabet by 11.9% in the 3rd quarter. Waverly Advisors LLC now owns 22,927 shares of the information services provider’s stock worth $3,023,000 after buying an additional 2,433 shares in the last quarter. Kolinsky Wealth Management LLC lifted its position in shares of Alphabet by 5.5% during the 3rd quarter. Kolinsky Wealth Management LLC now owns 5,816 shares of the information services provider’s stock worth $767,000 after buying an additional 302 shares during the period. Finally, United Services Automobile Association boosted its stake in Alphabet by 14.5% in the 3rd quarter. United Services Automobile Association now owns 131,740 shares of the information services provider’s stock valued at $17,370,000 after buying an additional 16,652 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Alphabet Price Performance

Shares of NASDAQ GOOG traded down $1.48 during trading on Friday, reaching $185.38. The company had a trading volume of 7,383,358 shares, compared to its average volume of 21,185,707. Alphabet Inc. has a 52 week low of $115.83 and a 52 week high of $187.50. 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 business’s 50 day moving average price is $173.26 and its 200-day moving average price is $154.97. The stock has a market cap of $2.29 trillion, a PE ratio of 28.46, a PEG ratio of 1.39 and a beta of 1.01.

Alphabet (NASDAQ:GOOG) last announced 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 firm had revenue of $80.54 billion during the quarter, compared to analysts’ expectations of $78.75 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The company’s quarterly revenue was up 15.4% compared to the same quarter last year. During the same period in the previous year, the business posted $1.17 EPS. Analysts expect that Alphabet Inc. will post 7.6 earnings per share for the current year.

Alphabet Dividend Announcement

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

Insiders Place Their Bets

In related news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $177.40, for a total value of $3,991,500.00. Following the completion of the transaction, the chief executive officer now owns 2,213,011 shares of the company’s stock, valued at $392,588,151.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Alphabet news, SVP Prabhakar Raghavan sold 3,258 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $155.97, for a total value of $508,150.26. Following the completion of the sale, the senior vice president now owns 144,685 shares in the company, valued at $22,566,519.45. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $177.40, for a total value of $3,991,500.00. Following the completion of the sale, the chief executive officer now owns 2,213,011 shares in the company, valued at approximately $392,588,151.40. The disclosure for this sale can be found here. Insiders sold a total of 146,284 shares of company stock valued at $24,534,393 in the last quarter. 12.99% of the stock is currently owned by insiders.

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.