Hemington Wealth Management Sells 551 Shares of Alphabet Inc. (NASDAQ:GOOG)

Hemington Wealth Management cut its stake in Alphabet Inc. (NASDAQ:GOOG) by 6.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,000 shares of the information services provider’s stock after selling 551 shares during the period. Hemington Wealth Management’s holdings in Alphabet were worth $1,219,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of GOOG. Norges Bank acquired a new position in shares of Alphabet in the 4th quarter valued at $4,101,040,000. International Assets Investment Management LLC bought a new position in Alphabet in the fourth quarter valued at approximately $11,600,970,000. Cerity Partners LLC lifted its holdings in shares of Alphabet by 198.7% in the fourth quarter. Cerity Partners LLC now owns 3,882,882 shares of the information services provider’s stock valued at $547,215,000 after purchasing an additional 2,583,128 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Alphabet by 93.9% during the 4th 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 in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in Alphabet by 50.2% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,918,113 shares of the information services provider’s stock worth $596,572,000 after acquiring an additional 1,308,691 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Stock Down 2.8 %

Alphabet stock traded down $5.36 during midday trading on Thursday, reaching $187.30. The stock had a trading volume of 16,417,893 shares, compared to its average volume of 20,755,676. The company has a fifty day moving average price of $178.46 and a two-hundred day moving average price of $158.56. Alphabet Inc. has a 12 month low of $118.68 and a 12 month high of $193.31. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $2.31 trillion, a P/E ratio of 28.72, a PEG ratio of 1.43 and a beta of 1.05.

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, topping the consensus estimate of $1.51 by $0.38. The business had revenue of $80.54 billion for the quarter, compared to analysts’ expectations of $78.75 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The firm’s revenue for the quarter was up 15.4% compared to the same quarter last year. During the same period in the previous year, the company earned $1.17 earnings per share. As a group, equities analysts expect that Alphabet Inc. will post 7.6 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently disclosed a — dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 10th were issued a dividend of $0.20 per share. The ex-dividend date was Monday, June 10th. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $166.67, for a total transaction of $113,668.94. Following the completion of the transaction, the chief accounting officer now directly owns 29,284 shares of the company’s stock, valued at $4,880,764.28. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, 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 completion of the transaction, the chief accounting officer now owns 29,284 shares in the company, valued at $4,880,764.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $157.41, for a total transaction of $3,541,725.00. Following the completion of the transaction, the chief executive officer now directly owns 2,303,011 shares of the company’s stock, valued at $362,516,961.51. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 146,288 shares of company stock valued at $25,345,053. Company insiders own 12.99% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on GOOG shares. Oppenheimer boosted their price target on Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research report on Monday, April 8th. Rosenblatt Securities downgraded shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target for the company. in a research report on Friday, June 28th. Morgan Stanley reissued an “overweight” rating and set a $165.00 target price on shares of Alphabet in a report on Thursday, April 11th. Stifel Nicolaus boosted their price target on Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Finally, TD Cowen upped their price target on shares of Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Wednesday. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $174.38.

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.