180 Wealth Advisors LLC Trims Stock Position in Alphabet Inc. (NASDAQ:GOOG)

180 Wealth Advisors LLC cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.6% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 38,125 shares of the information services provider’s stock after selling 1,029 shares during the quarter. Alphabet comprises about 1.0% of 180 Wealth Advisors LLC’s investment portfolio, making the stock its 13th biggest holding. 180 Wealth Advisors LLC’s holdings in Alphabet were worth $5,805,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Partnership Wealth Management LLC purchased a new position in Alphabet during the fourth quarter worth about $26,000. Bruce G. Allen Investments LLC purchased a new position in shares of Alphabet in the 4th quarter worth about $26,000. Equitec Proprietary Markets LLC purchased a new position in shares of Alphabet in the 4th quarter worth about $28,000. DiNuzzo Private Wealth Inc. purchased a new position in shares of Alphabet in the 4th quarter worth about $32,000. Finally, Richardson Financial Services Inc. purchased a new position in shares of Alphabet in the 4th quarter worth about $34,000. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Stock Down 0.9 %

Shares of GOOG stock traded down $1.61 during trading hours on Friday, reaching $185.25. The company had a trading volume of 4,495,537 shares, compared to its average volume of 21,164,092. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15. Alphabet Inc. has a twelve month low of $115.83 and a twelve month high of $187.50. The company has a market capitalization of $2.29 trillion, a P/E ratio of 28.47, a price-to-earnings-growth ratio of 1.39 and a beta of 1.01. The stock’s fifty day simple moving average is $173.26 and its 200 day simple moving average is $154.97.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.51 by $0.38. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The business had revenue of $80.54 billion during the quarter, compared to analyst estimates of $78.75 billion. During the same quarter last year, the firm earned $1.17 earnings per share. The company’s revenue for the quarter was up 15.4% compared to the same quarter last year. As a group, sell-side analysts expect that Alphabet Inc. will post 7.6 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently disclosed a — dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 10th were paid a dividend of $0.20 per share. The ex-dividend date was Monday, June 10th. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $154.79, for a total transaction of $105,566.78. Following the completion of the sale, the chief accounting officer now owns 29,284 shares in the company, valued at approximately $4,532,870.36. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $154.79, for a total transaction of $105,566.78. Following the completion of the sale, the chief accounting officer now owns 29,284 shares in the company, valued at approximately $4,532,870.36. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Prabhakar Raghavan sold 3,258 shares of the firm’s stock in a transaction that occurred 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 sale, the senior vice president now owns 144,685 shares of the company’s stock, valued at approximately $22,566,519.45. The disclosure for this sale can be found here. Insiders sold a total of 146,284 shares of company stock worth $24,534,393 in the last 90 days. 12.99% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on GOOG. Stifel Nicolaus raised their price objective on Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Rosenblatt Securities downgraded Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective on the stock. in a report on Friday. Oppenheimer raised their price objective on Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a report on Monday, April 8th. Finally, Morgan Stanley restated an “overweight” rating and issued a $165.00 price objective on shares of Alphabet in a report on Thursday, April 11th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $167.86.

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.