Apella Capital LLC Sells 181 Shares of Alphabet Inc. (NASDAQ:GOOG)

Apella Capital LLC reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 7.0% in the 1st quarter, HoldingsChannel.com reports. The fund owned 2,411 shares of the information services provider’s stock after selling 181 shares during the quarter. Apella Capital LLC’s holdings in Alphabet were worth $381,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Cranbrook Wealth Management LLC raised its stake in Alphabet by 14.0% during the fourth quarter. Cranbrook Wealth Management LLC now owns 570 shares of the information services provider’s stock worth $80,000 after acquiring an additional 70 shares in the last quarter. Manchester Financial Inc. raised its stake in Alphabet by 3.6% during the fourth quarter. Manchester Financial Inc. now owns 2,124 shares of the information services provider’s stock worth $299,000 after acquiring an additional 74 shares in the last quarter. Atticus Wealth Management LLC raised its stake in Alphabet by 1.4% during the third quarter. Atticus Wealth Management LLC now owns 5,262 shares of the information services provider’s stock worth $694,000 after acquiring an additional 75 shares in the last quarter. Congress Park Capital LLC raised its stake in Alphabet by 0.3% during the fourth quarter. Congress Park Capital LLC now owns 22,542 shares of the information services provider’s stock worth $3,177,000 after acquiring an additional 76 shares in the last quarter. Finally, Emerald Advisors LLC raised its stake in Alphabet by 0.6% during the fourth quarter. Emerald Advisors LLC now owns 13,565 shares of the information services provider’s stock worth $1,912,000 after acquiring an additional 76 shares in the last quarter. 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 the firm’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $177.92, for a total value of $266,880.00. Following the transaction, the director now owns 3,727 shares in the company, valued at $663,107.84. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Alphabet news, Director John L. Hennessy sold 1,500 shares of the stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $177.92, for a total value of $266,880.00. Following the transaction, the director now owns 3,727 shares of the company’s stock, valued at $663,107.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider John Kent Walker sold 12,084 shares of the stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $151.19, for a total value of $1,826,979.96. Following the completion of the transaction, the insider now directly owns 48,717 shares in the company, valued at approximately $7,365,523.23. The disclosure for this sale can be found here. Insiders have sold a total of 135,958 shares of company stock worth $22,383,553 over the last 90 days. Insiders own 12.99% of the company’s stock.

Alphabet Price Performance

Shares of GOOG stock opened at $180.26 on Friday. The stock’s fifty day moving average is $171.61 and its 200-day moving average is $153.81. 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 stock has a market capitalization of $2.23 trillion, a PE ratio of 27.65, a PEG ratio of 1.33 and a beta of 1.01. Alphabet Inc. has a 52 week low of $115.83 and a 52 week high of $182.51.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) 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 analysts’ expectations of $78.75 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The firm’s quarterly revenue was up 15.4% compared to the same quarter last year. During the same quarter last year, the business earned $1.17 earnings per share. Equities research analysts expect that Alphabet Inc. will post 7.6 EPS for the current fiscal year.

Alphabet Announces Dividend

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

Analysts Set New Price Targets

GOOG has been the topic of several research analyst reports. Stifel Nicolaus increased their target price on Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Morgan Stanley restated an “overweight” rating and set a $165.00 target price on shares of Alphabet in a report on Thursday, April 11th. Finally, Oppenheimer increased their target price on Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a report on Monday, April 8th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company 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.