Tributary Capital Management LLC Lowers Position in Alphabet Inc. (NASDAQ:GOOG)

Tributary Capital Management LLC decreased its position in Alphabet Inc. (NASDAQ:GOOG) by 2.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,850 shares of the information services provider’s stock after selling 400 shares during the quarter. Tributary Capital Management LLC’s holdings in Alphabet were worth $2,109,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank purchased a new stake in Alphabet in the 4th quarter valued at about $4,101,040,000. JPMorgan Chase & Co. grew its holdings in shares of Alphabet by 11.3% in the third quarter. JPMorgan Chase & Co. now owns 95,941,129 shares of the information services provider’s stock valued at $12,649,838,000 after acquiring an additional 9,703,425 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Alphabet during the fourth quarter valued at approximately $11,600,970,000. Cerity Partners LLC lifted its holdings in Alphabet by 198.7% during the fourth quarter. Cerity Partners LLC now owns 3,882,882 shares of the information services provider’s stock worth $547,215,000 after acquiring an additional 2,583,128 shares during the period. Finally, Assenagon Asset Management S.A. lifted its holdings in Alphabet by 93.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 4,591,383 shares of the information services provider’s stock worth $647,064,000 after acquiring an additional 2,222,950 shares during the period. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on GOOG. Rosenblatt Securities lowered Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price for the company. in a research report on Friday. Morgan Stanley reaffirmed an “overweight” rating and issued a $165.00 price objective on shares of Alphabet in a research report on Thursday, April 11th. Stifel Nicolaus increased their target price on shares of Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Finally, Oppenheimer lifted their price target on shares of 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 issued a buy rating to the stock. According to MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and a consensus price target of $167.86.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $166.67, for a total value of $113,668.94. Following the transaction, the chief accounting officer now directly owns 29,284 shares in the company, valued at approximately $4,880,764.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $166.67, for a total value of $113,668.94. Following the completion of the transaction, the chief accounting officer now directly owns 29,284 shares in the company, valued at $4,880,764.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $155.67, for a total value of $3,502,575.00. Following the sale, the chief executive officer now owns 2,325,513 shares in the company, valued at approximately $362,012,608.71. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 142,344 shares of company stock worth $23,920,676. Corporate insiders own 12.99% of the company’s stock.

Alphabet Trading Down 0.3 %

Shares of GOOG stock opened at $183.85 on Tuesday. Alphabet Inc. has a 1 year low of $115.83 and a 1 year high of $187.50. The company’s fifty day simple moving average is $174.40 and its two-hundred day simple moving average is $155.84. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.15. The stock has a market capitalization of $2.27 trillion, a price-to-earnings ratio of 28.30, a PEG ratio of 1.38 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.51 by $0.38. The company had revenue of $80.54 billion during 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%. Alphabet’s revenue was up 15.4% compared to the same quarter last year. During the same period last year, the business earned $1.17 earnings per share. As a group, analysts anticipate that Alphabet Inc. will post 7.6 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently declared a — dividend, which was paid on Monday, June 17th. Stockholders 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 payout ratio is currently 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.