Congress Asset Management Co. MA Sells 8,753 Shares of Alphabet Inc. (NASDAQ:GOOG)

Congress Asset Management Co. MA reduced its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 8.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 99,096 shares of the information services provider’s stock after selling 8,753 shares during the quarter. Congress Asset Management Co. MA’s holdings in Alphabet were worth $13,966,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Cranbrook Wealth Management LLC raised its holdings in Alphabet by 14.0% in the 4th quarter. Cranbrook Wealth Management LLC now owns 570 shares of the information services provider’s stock valued at $80,000 after acquiring an additional 70 shares during the last quarter. Manchester Financial Inc. increased its holdings in shares of Alphabet by 3.6% during the 4th quarter. Manchester Financial Inc. now owns 2,124 shares of the information services provider’s stock worth $299,000 after buying an additional 74 shares during the last quarter. Atticus Wealth Management LLC increased its holdings in shares of Alphabet by 1.4% during the 3rd quarter. Atticus Wealth Management LLC now owns 5,262 shares of the information services provider’s stock worth $694,000 after buying an additional 75 shares during the last quarter. Congress Park Capital LLC increased its holdings in shares of Alphabet by 0.3% during the 4th quarter. Congress Park Capital LLC now owns 22,542 shares of the information services provider’s stock worth $3,177,000 after buying an additional 76 shares during the last quarter. Finally, Emerald Advisors LLC increased its holdings in shares of Alphabet by 0.6% during the 4th quarter. Emerald Advisors LLC now owns 13,565 shares of the information services provider’s stock worth $1,912,000 after buying an additional 76 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors.

Alphabet Stock Up 0.9 %

GOOG stock traded up $1.63 during midday trading on Friday, hitting $178.37. The company’s stock had a trading volume of 12,361,571 shares, compared to its average volume of 15,698,730. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 52-week low of $115.83 and a 52-week high of $182.08. The firm has a market capitalization of $2.20 trillion, a P/E ratio of 27.36, a PEG ratio of 1.32 and a beta of 1.01. The firm has a 50-day simple moving average of $169.66 and a 200-day simple moving average of $152.51.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.51 by $0.38. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The company had revenue of $80.54 billion during the quarter, compared to analysts’ expectations of $78.75 billion. During the same quarter last year, the company posted $1.17 EPS. The firm’s revenue was up 15.4% compared to the same quarter last year. As a group, equities analysts forecast that Alphabet Inc. will post 7.69 EPS for the current year.

Alphabet Dividend Announcement

The company also recently disclosed a — dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 10th will be given a dividend of $0.20 per share. The ex-dividend date is Monday, June 10th. Alphabet’s dividend payout ratio (DPR) is currently 12.27%.

Analyst Ratings Changes

A number of analysts have recently issued reports on GOOG shares. Stifel Nicolaus raised their price target on shares of Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Oppenheimer increased their price objective on shares of Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research report on Monday, April 8th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $165.00 price objective on shares of Alphabet in a research report on Thursday, April 11th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $165.67.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $148.78, for a total transaction of $3,347,550.00. Following the completion of the sale, the chief executive officer now directly owns 2,310,191 shares of the company’s stock, valued at approximately $343,710,216.98. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $154.79, for a total transaction of $105,566.78. Following 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $148.78, for a total transaction of $3,347,550.00. Following the completion of the transaction, the chief executive officer now owns 2,310,191 shares in the company, valued at $343,710,216.98. The disclosure for this sale can be found here. In the last three months, insiders sold 158,958 shares of company stock valued at $25,805,853. 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.