Tcwp LLC Sells 25,144 Shares of Alphabet Inc. (NASDAQ:GOOG)

Tcwp LLC cut its stake in Alphabet Inc. (NASDAQ:GOOG) by 87.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,596 shares of the information services provider’s stock after selling 25,144 shares during the period. Alphabet comprises about 1.4% of Tcwp LLC’s investment portfolio, making the stock its 25th largest position. Tcwp LLC’s holdings in Alphabet were worth $507,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. FMR LLC grew its holdings in shares of 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 last quarter. JPMorgan Chase & Co. increased its position in Alphabet by 11.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 95,941,129 shares of the information services provider’s stock valued at $12,649,838,000 after purchasing an additional 9,703,425 shares during the period. Capital International Investors increased its position in Alphabet by 1.1% during the 4th quarter. Capital International Investors now owns 80,246,520 shares of the information services provider’s stock valued at $11,309,370,000 after purchasing an additional 862,550 shares during the period. Northern Trust Corp increased its position in Alphabet by 2.3% during the 3rd quarter. Northern Trust Corp now owns 57,269,184 shares of the information services provider’s stock valued at $7,550,942,000 after purchasing an additional 1,275,060 shares during the period. Finally, Norges Bank purchased a new position in Alphabet during the 4th quarter valued at about $4,101,040,000. 27.26% of the stock is currently owned by institutional investors.

Alphabet Stock Up 0.4 %

Shares of NASDAQ:GOOG traded up $0.68 during trading on Monday, reaching $176.63. The stock had a trading volume of 17,100,486 shares, compared to its average volume of 21,502,014. Alphabet Inc. has a one year low of $115.83 and a one year high of $179.95. The company has a market capitalization of $2.18 trillion, a P/E ratio of 27.09, a PEG ratio of 1.31 and a beta of 1.01. 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 firm’s 50-day simple moving average is $167.76 and its 200 day simple moving average is $151.37.

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, beating analysts’ consensus estimates of $1.51 by $0.38. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The business had revenue of $80.54 billion for the quarter, compared to analysts’ expectations of $78.75 billion. During the same period last year, the business earned $1.17 EPS. The company’s revenue was up 15.4% compared to the same quarter last year. As a group, research analysts expect that Alphabet Inc. will post 7.69 EPS for the current fiscal year.

Alphabet Dividend Announcement

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

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $176.58, for a total value of $3,973,050.00. Following the completion of the sale, the chief executive officer now directly owns 2,235,511 shares in the company, valued at approximately $394,746,532.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Alphabet news, Director John L. Hennessy sold 2,100 shares of Alphabet stock in a transaction that occurred 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 directly owns 5,891 shares in the company, valued at approximately $1,035,402.16. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $176.58, for a total transaction of $3,973,050.00. Following the sale, the chief executive officer now owns 2,235,511 shares of the company’s stock, valued at $394,746,532.38. The disclosure for this sale can be found here. Insiders sold 157,758 shares of company stock worth $25,580,826 in the last three months. Corporate insiders own 12.99% of the company’s stock.

Analyst Ratings Changes

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

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.