Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Cranbrook Wealth Management LLC

Cranbrook Wealth Management LLC lessened its holdings in Alphabet Inc. (NASDAQ:GOOG) by 22.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 521 shares of the information services provider’s stock after selling 149 shares during the quarter. Cranbrook Wealth Management LLC’s holdings in Alphabet were worth $81,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Sterling Financial Planning Inc. lifted its holdings in shares of Alphabet by 2.6% during the fourth quarter. Sterling Financial Planning Inc. now owns 1,941 shares of the information services provider’s stock worth $370,000 after purchasing an additional 50 shares during the period. Arlington Trust Co LLC lifted its holdings in shares of Alphabet by 0.4% during the fourth quarter. Arlington Trust Co LLC now owns 14,423 shares of the information services provider’s stock worth $2,747,000 after purchasing an additional 52 shares during the period. Ethos Financial Group LLC lifted its holdings in shares of Alphabet by 0.7% during the fourth quarter. Ethos Financial Group LLC now owns 7,300 shares of the information services provider’s stock worth $1,395,000 after purchasing an additional 53 shares during the period. Hutchinson Capital Management CA lifted its holdings in shares of Alphabet by 1.5% during the fourth quarter. Hutchinson Capital Management CA now owns 3,555 shares of the information services provider’s stock worth $677,000 after purchasing an additional 54 shares during the period. Finally, Tempus Wealth Planning LLC lifted its holdings in shares of Alphabet by 1.7% during the fourth quarter. Tempus Wealth Planning LLC now owns 3,337 shares of the information services provider’s stock worth $636,000 after purchasing an additional 55 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.

Analysts Set New Price Targets

GOOG has been the subject of a number of research reports. Needham & Company LLC downgraded Alphabet from a “buy” rating to a “cautious” rating in a report on Friday, May 2nd. The Goldman Sachs Group reaffirmed a “buy” rating and set a $220.00 target price on shares of Alphabet in a report on Monday. Westpark Capital reissued a “buy” rating and issued a $210.00 price target on shares of Alphabet in a report on Friday, April 25th. Oppenheimer boosted their price target on Alphabet from $185.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, April 25th. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $171.00 price target on shares of Alphabet in a report on Friday, April 25th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, fourteen have given a buy rating and five have issued a strong buy rating to the company. According to MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and an average target price of $204.88.

Alphabet Stock Up 3.0%

NASDAQ GOOG opened at $174.92 on Friday. The business has a fifty day moving average price of $161.88 and a 200 day moving average price of $176.05. Alphabet Inc. has a one year low of $142.66 and a one year high of $208.70. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. The company has a market cap of $2.12 trillion, a P/E ratio of 21.73, a P/E/G ratio of 1.34 and a beta of 1.01.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, beating the consensus estimate of $2.02 by $0.79. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The firm had revenue of $90.23 billion during the quarter, compared to the consensus estimate of $89.30 billion. During the same period in the prior year, the company earned $1.89 EPS. The firm’s revenue was up 12.0% compared to the same quarter last year. Research analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be paid a $0.21 dividend. This is an increase from Alphabet’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 0.48%. The ex-dividend date is Monday, June 9th. Alphabet’s dividend payout ratio is currently 9.36%.

Insider Activity at Alphabet

In other Alphabet news, insider John Kent Walker sold 11,764 shares of the company’s stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $166.84, for a total value of $1,962,705.76. Following the completion of the sale, the insider now directly owns 49,037 shares in the company, valued at $8,181,333.08. This represents a 19.35% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 673 shares of the company’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $155.33, for a total value of $104,537.09. Following the completion of the sale, the chief accounting officer now owns 15,303 shares of the company’s stock, valued at approximately $2,377,014.99. The trade was a 4.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 195,770 shares of company stock valued at $32,036,638. 12.99% of the stock is owned by insiders.

Alphabet Company 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.