Fernwood Investment Management LLC Cuts Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Fernwood Investment Management LLC trimmed its stake in Alphabet Inc. (NASDAQ:GOOG) by 0.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,886 shares of the information services provider’s stock after selling 200 shares during the period. Alphabet accounts for 0.9% of Fernwood Investment Management LLC’s portfolio, making the stock its 21st largest position. Fernwood Investment Management LLC’s holdings in Alphabet were worth $3,641,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Riversedge Advisors LLC boosted its position in Alphabet by 67.3% in the 3rd quarter. Riversedge Advisors LLC now owns 5,422 shares of the information services provider’s stock worth $715,000 after purchasing an additional 2,182 shares in the last quarter. Patriot Financial Group Insurance Agency LLC lifted its position in shares of Alphabet by 6.8% during the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 24,604 shares of the information services provider’s stock valued at $3,244,000 after buying an additional 1,574 shares in the last quarter. Chronos Wealth Management LLC grew its stake in Alphabet by 0.3% in the 3rd quarter. Chronos Wealth Management LLC now owns 69,091 shares of the information services provider’s stock valued at $9,110,000 after acquiring an additional 197 shares during the period. Connecticut Wealth Management LLC increased its holdings in Alphabet by 56.1% in the 3rd quarter. Connecticut Wealth Management LLC now owns 23,241 shares of the information services provider’s stock worth $3,064,000 after acquiring an additional 8,351 shares in the last quarter. Finally, Red Door Wealth Management LLC raised its position in Alphabet by 1.2% during the third quarter. Red Door Wealth Management LLC now owns 78,823 shares of the information services provider’s stock worth $10,393,000 after acquiring an additional 915 shares during the period. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Amie Thuener O’toole sold 660 shares of Alphabet stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $143.59, for a total transaction of $94,769.40. Following the completion of the sale, the chief accounting officer now directly owns 27,920 shares of the company’s stock, valued at approximately $4,009,032.80. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CAO Amie Thuener O’toole sold 660 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $143.59, for a total value of $94,769.40. Following the completion of the sale, the chief accounting officer now directly owns 27,920 shares of the company’s stock, valued at $4,009,032.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John L. Hennessy sold 2,100 shares of the company’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $175.76, for a total transaction of $369,096.00. Following the completion of the sale, the director now owns 5,891 shares of the company’s stock, valued at approximately $1,035,402.16. The disclosure for this sale can be found here. Insiders have sold 253,289 shares of company stock worth $36,724,534 over the last three months. Company insiders own 12.99% of the company’s stock.

Alphabet Trading Down 1.9 %

Shares of GOOG opened at $164.64 on Wednesday. Alphabet Inc. has a 12-month low of $104.50 and a 12-month high of $176.42. The firm has a market capitalization of $2.05 trillion, a P/E ratio of 25.25, a P/E/G ratio of 1.31 and a beta of 1.05. The firm has a 50-day moving average price of $150.09 and a 200 day moving average price of $143.16. The company has a current ratio of 2.15, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05.

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 firm 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% on a year-over-year basis. During the same period in the prior year, the firm posted $1.17 earnings per share. Sell-side analysts forecast that Alphabet Inc. will post 7.46 EPS for the current year.

Alphabet Announces Dividend

The company also recently disclosed a — dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 10th will be issued a $0.20 dividend. The ex-dividend date is Monday, June 10th.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Oppenheimer lifted 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. Susquehanna boosted their price target on Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a research report on Wednesday, January 31st. Stifel Nicolaus increased their price objective on Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Morgan Stanley reaffirmed an “overweight” rating and set a $165.00 target price on shares of Alphabet in a research note on Thursday, April 11th. Finally, Raymond James increased their target price on shares of Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a research report on Wednesday, January 24th. 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.

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.