Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Compass Wealth Management LLC

Compass Wealth Management LLC cut its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 7.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 38,656 shares of the information services provider’s stock after selling 3,195 shares during the quarter. Alphabet accounts for approximately 1.5% of Compass Wealth Management LLC’s holdings, making the stock its 13th biggest position. Compass Wealth Management LLC’s holdings in Alphabet were worth $5,886,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. JPMorgan Chase & Co. raised its position in Alphabet by 11.3% in the third quarter. JPMorgan Chase & Co. now owns 95,941,129 shares of the information services provider’s stock worth $12,649,838,000 after acquiring an additional 9,703,425 shares in the last quarter. Capital International Investors raised its position in Alphabet by 1.1% in the fourth quarter. Capital International Investors now owns 80,246,520 shares of the information services provider’s stock worth $11,309,370,000 after acquiring an additional 862,550 shares in the last quarter. Northern Trust Corp raised its position in Alphabet by 2.3% in the third quarter. Northern Trust Corp now owns 57,269,184 shares of the information services provider’s stock worth $7,550,942,000 after acquiring an additional 1,275,060 shares in the last quarter. Norges Bank purchased a new position in Alphabet in the fourth quarter worth $4,101,040,000. Finally, Charles Schwab Investment Management Inc. raised its position in Alphabet by 1.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 28,800,413 shares of the information services provider’s stock worth $4,058,842,000 after acquiring an additional 481,376 shares in the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have issued reports on GOOG shares. Stifel Nicolaus increased their price objective on Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Morgan Stanley reiterated an “overweight” rating and issued a $165.00 price objective on shares of Alphabet in a research report on Thursday, April 11th. Finally, Oppenheimer increased their price objective on Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research report on Monday, April 8th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $165.67.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $154.79, for a total value of $105,566.78. Following the sale, the chief accounting officer now directly owns 29,284 shares of the company’s stock, valued at approximately $4,532,870.36. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $154.79, for a total value of $105,566.78. Following the transaction, the chief accounting officer now directly owns 29,284 shares of the company’s stock, valued at approximately $4,532,870.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John L. Hennessy sold 1,500 shares of Alphabet stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $177.92, for a total value of $266,880.00. Following the completion of the transaction, the director now directly owns 3,727 shares in the company, valued at $663,107.84. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 135,958 shares of company stock valued at $22,383,553. Insiders own 12.99% of the company’s stock.

Alphabet Trading Down 1.3 %

Alphabet stock opened at $176.45 on Thursday. The stock has a market cap of $2.18 trillion, a PE ratio of 27.06, a P/E/G ratio of 1.31 and a beta of 1.01. The stock has a 50-day moving average price of $170.85 and a 200 day moving average price of $153.29. Alphabet Inc. has a 52 week low of $115.83 and a 52 week high of $182.08. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $80.54 billion for the quarter, compared to analyst estimates of $78.75 billion. During the same period last year, the company earned $1.17 EPS. The firm’s quarterly revenue was up 15.4% on a year-over-year basis. Equities research analysts predict that Alphabet Inc. will post 7.69 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently declared 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 was Monday, June 10th. Alphabet’s payout ratio is 12.27%.

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.