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

Congress Wealth Management LLC DE lowered its position in Alphabet Inc. (NASDAQ:GOOG) by 40.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 53,932 shares of the information services provider’s stock after selling 37,194 shares during the quarter. Congress Wealth Management LLC DE’s holdings in Alphabet were worth $8,212,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Bruce G. Allen Investments LLC bought a new position in shares of Alphabet in the fourth quarter worth $26,000. Partnership Wealth Management LLC bought a new position in Alphabet in the 4th quarter valued at about $26,000. Equitec Proprietary Markets LLC acquired a new position in Alphabet during the 4th quarter valued at about $28,000. DiNuzzo Private Wealth Inc. bought a new stake in shares of Alphabet during the 4th quarter worth about $32,000. Finally, Pacific Capital Wealth Advisors Inc. acquired a new stake in shares of Alphabet in the 4th quarter worth approximately $34,000. Institutional investors own 27.26% of the company’s stock.

Insider Activity at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $177.40, for a total transaction of $3,991,500.00. Following the transaction, the chief executive officer now directly owns 2,213,011 shares in the company, valued at approximately $392,588,151.40. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $177.40, for a total value of $3,991,500.00. Following the transaction, the chief executive officer now owns 2,213,011 shares in the company, valued at $392,588,151.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $166.67, for a total value of $113,668.94. Following the sale, the chief accounting officer now owns 29,284 shares of the company’s stock, valued at $4,880,764.28. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 142,344 shares of company stock valued at $23,920,676. Company insiders own 12.99% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on GOOG shares. Stifel Nicolaus raised their price objective on shares of Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Morgan Stanley reiterated an “overweight” rating and set a $165.00 price target on shares of Alphabet in a research report on Thursday, April 11th. Rosenblatt Securities lowered Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective for the company. in a report on Friday. Finally, Oppenheimer lifted 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. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $167.86.

Alphabet Price Performance

Shares of NASDAQ:GOOG opened at $184.49 on Tuesday. The company has a market capitalization of $2.28 trillion, a PE ratio of 28.30, a price-to-earnings-growth ratio of 1.38 and a beta of 1.05. 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 fifty day moving average of $174.40 and a 200-day moving average of $155.84. Alphabet Inc. has a one year low of $115.83 and a one year high of $187.50.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share 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 company posted $1.17 EPS. Alphabet’s revenue for the quarter was up 15.4% on a year-over-year basis. As a group, equities analysts anticipate that Alphabet Inc. will post 7.6 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently declared a — dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 10th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, June 10th. Alphabet’s dividend 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.