Valley Wealth Managers Inc. Cuts Stake in Alphabet Inc. (NASDAQ:GOOG)

Valley Wealth Managers Inc. trimmed its stake in Alphabet Inc. (NASDAQ:GOOG) by 5.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,563 shares of the information services provider’s stock after selling 277 shares during the quarter. Valley Wealth Managers Inc.’s holdings in Alphabet were worth $695,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Partnership Wealth Management LLC purchased a new stake in shares of Alphabet during the 4th quarter worth about $26,000. Bruce G. Allen Investments LLC purchased a new stake in Alphabet during the fourth quarter worth approximately $26,000. Equitec Proprietary Markets LLC acquired a new stake in shares of Alphabet in the fourth quarter worth $28,000. DiNuzzo Private Wealth Inc. purchased a new stake in shares of Alphabet during the fourth quarter valued at approximately $32,000. Finally, Richardson Financial Services Inc. purchased a new stake in Alphabet during the 4th quarter worth approximately $34,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOG has been the topic of a number of research analyst reports. Morgan Stanley reaffirmed an “overweight” rating and set a $165.00 target price on shares of Alphabet in a report on Thursday, April 11th. Rosenblatt Securities downgraded Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective for the company. in a research note on Friday, June 28th. Stifel Nicolaus raised their price target 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. Oppenheimer increased 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. Finally, TD Cowen raised their target price on shares of Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Wednesday. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $174.38.

Alphabet Trading Down 2.5 %

Shares of NASDAQ:GOOG traded down $4.74 during mid-day trading on Thursday, hitting $187.92. The stock had a trading volume of 10,925,002 shares, compared to its average volume of 20,714,152. The company has a market cap of $2.32 trillion, a PE ratio of 28.72, a P/E/G ratio of 1.43 and a beta of 1.05. Alphabet Inc. has a 12-month low of $118.68 and a 12-month high of $193.31. 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 company’s 50 day moving average is $178.46 and its 200-day moving average is $158.56.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates 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%. During the same period in the prior year, the business posted $1.17 earnings per share. Alphabet’s revenue for the quarter was up 15.4% compared to the same quarter last year. On average, sell-side analysts predict that Alphabet Inc. will post 7.6 EPS for the current 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 issued a dividend of $0.20 per share. The ex-dividend date was Monday, June 10th. Alphabet’s dividend payout ratio is currently 12.27%.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $166.67, for a total transaction of $113,668.94. Following the transaction, the chief accounting officer now owns 29,284 shares in the company, valued at $4,880,764.28. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $166.67, for a total transaction of $113,668.94. Following the completion of the transaction, the chief accounting officer now owns 29,284 shares of the company’s stock, valued at approximately $4,880,764.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, 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. Over the last three months, insiders sold 146,288 shares of company stock worth $25,345,053. Corporate insiders own 12.99% of the company’s stock.

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.