Alphabet Inc. (NASDAQ:GOOG) Stake Cut by Cardano Risk Management B.V.

Cardano Risk Management B.V. lowered its stake in Alphabet Inc. (NASDAQ:GOOG) by 2.9% during the first quarter, Holdings Channel.com reports. The institutional investor owned 1,079,364 shares of the information services provider’s stock after selling 32,283 shares during the period. Alphabet makes up approximately 5.1% of Cardano Risk Management B.V.’s portfolio, making the stock its 6th largest position. Cardano Risk Management B.V.’s holdings in Alphabet were worth $164,344,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Bruce G. Allen Investments LLC purchased a new position in shares of Alphabet during the 4th quarter worth $26,000. Partnership Wealth Management LLC purchased a new position in shares of Alphabet during the 4th quarter worth $26,000. Equitec Proprietary Markets LLC purchased a new position in shares of Alphabet during the 4th quarter worth $28,000. DiNuzzo Private Wealth Inc. purchased a new position in shares of Alphabet during the 4th quarter worth $32,000. Finally, Pacific Capital Wealth Advisors Inc. purchased a new position in shares of Alphabet during the 4th quarter worth $34,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Stock Up 1.4 %

Shares of NASDAQ GOOG opened at $180.26 on Friday. Alphabet Inc. has a 12-month low of $115.83 and a 12-month high of $182.51. The company has a market cap of $2.23 trillion, a P/E ratio of 27.65, a P/E/G ratio of 1.33 and a beta of 1.01. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05. The stock has a fifty day moving average price of $171.61 and a 200 day moving average price of $153.96.

Alphabet (NASDAQ:GOOG) last announced 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. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The firm had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $78.75 billion. During the same period in the prior year, the firm earned $1.17 EPS. The firm’s quarterly revenue was up 15.4% compared to the same quarter last year. Research analysts anticipate that Alphabet Inc. will post 7.6 EPS for the current fiscal year.

Alphabet Announces Dividend

The business 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 currently 12.27%.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Morgan Stanley restated an “overweight” rating and set a $165.00 price objective on shares of Alphabet in a report on Thursday, April 11th. Oppenheimer upped 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, Stifel Nicolaus upped 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. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $165.67.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $154.79, for a total value of $105,566.78. Following the completion of the sale, the chief accounting officer now directly 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 can be accessed through the SEC website. In other news, insider John Kent Walker sold 12,084 shares of the firm’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $151.19, for a total transaction of $1,826,979.96. Following the completion of the sale, the insider now directly owns 48,717 shares in the company, valued at $7,365,523.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $154.79, for a total value of $105,566.78. Following the sale, the chief accounting officer now owns 29,284 shares of the company’s stock, valued at $4,532,870.36. The disclosure for this sale can be found here. In the last three months, insiders sold 135,958 shares of company stock worth $22,383,553. Corporate insiders own 12.99% of the company’s stock.

Alphabet 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.