Alphabet Inc. (NASDAQ:GOOG) Shares Sold by M&R Capital Management Inc.

M&R Capital Management Inc. trimmed its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 3.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 55,011 shares of the information services provider’s stock after selling 2,054 shares during the period. Alphabet comprises about 2.1% of M&R Capital Management Inc.’s holdings, making the stock its 14th biggest position. M&R Capital Management Inc.’s holdings in Alphabet were worth $8,375,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of GOOG. Bruce G. Allen Investments LLC acquired a new position in shares of Alphabet during the 4th quarter worth approximately $26,000. Partnership Wealth Management LLC acquired a new position in shares of Alphabet during the 4th quarter worth approximately $26,000. Equitec Proprietary Markets LLC acquired a new position in shares of Alphabet during the 4th quarter worth approximately $28,000. DiNuzzo Private Wealth Inc. acquired a new position in shares of Alphabet during the 4th quarter worth approximately $32,000. Finally, Pacific Capital Wealth Advisors Inc. acquired a new position in shares of Alphabet during the 4th quarter worth approximately $34,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Alphabet

In related news, Director John L. Hennessy sold 1,500 shares of Alphabet stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $177.92, for a total transaction of $266,880.00. Following the transaction, the director now owns 3,727 shares in the company, valued at approximately $663,107.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $154.79, for a total value of $105,566.78. Following the transaction, 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John L. Hennessy sold 1,500 shares of the business’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $177.92, for a total transaction of $266,880.00. Following the completion of the transaction, the director now owns 3,727 shares in the company, valued at approximately $663,107.84. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 135,958 shares of company stock worth $22,383,553. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Stock Down 1.3 %

Shares of NASDAQ GOOG opened at $176.45 on Wednesday. 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 stock has a market capitalization of $2.18 trillion, a PE ratio of 27.06, a P/E/G ratio of 1.33 and a beta of 1.01. The firm has a fifty day moving average of $170.48 and a 200-day moving average of $153.13. Alphabet Inc. has a 52-week low of $115.83 and a 52-week high of $182.08.

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

Alphabet Dividend Announcement

The firm also recently announced a — dividend, which was paid on Monday, June 17th. Investors 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 payout ratio is 12.27%.

Analyst Upgrades and Downgrades

GOOG has been the subject of several recent analyst reports. Morgan Stanley reaffirmed an “overweight” rating and issued a $165.00 target price on shares of Alphabet in a research note on Thursday, April 11th. Stifel Nicolaus lifted their target price on shares of Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Finally, Oppenheimer lifted their target price on shares of Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research note on Monday, April 8th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, Alphabet presently has a consensus rating of “Buy” and an average target price of $165.67.

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.