Pekin Hardy Strauss Inc. Sells 650 Shares of Alphabet Inc. (NASDAQ:GOOG)

Pekin Hardy Strauss Inc. trimmed its holdings in Alphabet Inc. (NASDAQ:GOOG) by 1.2% in the 4th quarter, Holdings Channel reports. The fund owned 53,219 shares of the information services provider’s stock after selling 650 shares during the quarter. Alphabet comprises 1.1% of Pekin Hardy Strauss Inc.’s portfolio, making the stock its 18th biggest holding. Pekin Hardy Strauss Inc.’s holdings in Alphabet were worth $7,500,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. FMR LLC lifted its position in Alphabet by 3.8% in the third quarter. FMR LLC now owns 120,234,117 shares of the information services provider’s stock worth $15,852,868,000 after purchasing an additional 4,348,188 shares during the period. JPMorgan Chase & Co. lifted its position in Alphabet by 11.3% in the third quarter. JPMorgan Chase & Co. now owns 95,941,129 shares of the information services provider’s stock worth $12,649,838,000 after purchasing an additional 9,703,425 shares during the period. Northern Trust Corp lifted its position in Alphabet by 2.3% in the third quarter. Northern Trust Corp now owns 57,269,184 shares of the information services provider’s stock worth $7,550,942,000 after purchasing an additional 1,275,060 shares during the period. Sanders Capital LLC lifted its position in Alphabet by 0.3% in the third quarter. Sanders Capital LLC now owns 27,744,572 shares of the information services provider’s stock worth $3,658,122,000 after purchasing an additional 92,741 shares during the period. Finally, Jennison Associates LLC lifted its position in Alphabet by 2.0% in the third quarter. Jennison Associates LLC now owns 19,822,203 shares of the information services provider’s stock worth $2,613,557,000 after purchasing an additional 390,118 shares during the period. 27.26% of the stock is owned by institutional investors.

Insider Activity at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 660 shares of the business’s 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 sale, the chief accounting officer now owns 27,920 shares in the company, valued at approximately $4,009,032.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Alphabet news, Director John L. Hennessy sold 2,100 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $175.76, for a total value of $369,096.00. Following the sale, the director now owns 5,891 shares in the company, valued at approximately $1,035,402.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 660 shares of the company’s 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 sale, the chief accounting officer now owns 27,920 shares in the company, valued at approximately $4,009,032.80. The disclosure for this sale can be found here. In the last quarter, insiders have sold 253,289 shares of company stock valued at $36,724,534. 12.99% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have issued reports on GOOG. Morgan Stanley reiterated an “overweight” rating and set a $165.00 price objective on shares of Alphabet in a research note on Thursday, April 11th. Susquehanna increased their price objective on Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a research note on Wednesday, January 31st. Oppenheimer increased their price objective on Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research note on Monday, April 8th. Raymond James increased their price objective on Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 24th. Finally, Stifel Nicolaus increased their price objective on Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $165.67.

Alphabet Stock Performance

Shares of NASDAQ:GOOG opened at $164.64 on Wednesday. Alphabet Inc. has a twelve month low of $104.50 and a twelve month high of $176.42. The firm has a market cap of $2.05 trillion, a PE ratio of 25.25, a price-to-earnings-growth ratio of 1.31 and a beta of 1.05. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.15. The business has a fifty day moving average of $150.09 and a 200-day moving average of $143.16.

Alphabet (NASDAQ:GOOG) last announced its 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 company had revenue of $80.54 billion during the quarter, compared to analyst estimates of $78.75 billion. During the same period last year, the company posted $1.17 earnings per share. The firm’s quarterly revenue was up 15.4% compared to the same quarter last year. On average, equities research analysts predict that Alphabet Inc. will post 7.46 EPS for the current fiscal year.

Alphabet Announces Dividend

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

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.