Resolute Wealth Strategies LLC Lowers Position in Alphabet Inc. (NASDAQ:GOOG)

Resolute Wealth Strategies LLC cut its stake in Alphabet Inc. (NASDAQ:GOOG) by 1.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 24,470 shares of the information services provider’s stock after selling 395 shares during the quarter. Alphabet accounts for about 2.3% of Resolute Wealth Strategies LLC’s portfolio, making the stock its 12th biggest position. Resolute Wealth Strategies LLC’s holdings in Alphabet were worth $3,449,000 as of its most recent filing with the Securities & Exchange Commission.

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

Alphabet Price Performance

Shares of GOOG traded up $0.53 during mid-day trading on Friday, hitting $168.99. 22,767,056 shares of the company were exchanged, compared to its average volume of 22,353,938. Alphabet Inc. has a 1-year low of $104.70 and a 1-year high of $176.42. 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 company has a 50 day moving average of $151.46 and a 200-day moving average of $143.69. The stock has a market cap of $2.10 trillion, a price-to-earnings ratio of 25.92, a price-to-earnings-growth ratio of 1.26 and a beta of 1.02.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share (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 in the prior year, the company earned $1.17 EPS. Alphabet’s revenue was up 15.4% compared to the same quarter last year. Analysts expect that Alphabet Inc. will post 7.66 EPS for the current fiscal year.

Alphabet Dividend Announcement

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

Insider Activity at Alphabet

In other news, Director John L. Hennessy sold 300 shares of the stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $139.51, for a total value of $41,853.00. Following the completion of the sale, the director now owns 9,291 shares of the company’s stock, valued at approximately $1,296,187.41. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $146.29, for a total value of $3,291,525.00. Following the completion of the sale, the chief executive officer now owns 2,377,691 shares of the company’s stock, valued at approximately $347,832,416.39. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director John L. Hennessy sold 300 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $139.51, for a total transaction of $41,853.00. Following the completion of the transaction, the director now owns 9,291 shares in the company, valued at $1,296,187.41. The disclosure for this sale can be found here. In the last quarter, insiders sold 275,129 shares of company stock valued at $40,382,765. Corporate insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on GOOG shares. Morgan Stanley reiterated an “overweight” rating and issued a $165.00 price objective on shares of Alphabet in a research report on Thursday, April 11th. Raymond James upped their price objective on shares of Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 24th. Susquehanna upped their price objective on shares of Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a research report on Wednesday, January 31st. Oppenheimer upped 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, Stifel Nicolaus upped their price target on shares of Alphabet from $154.00 to $174.00 and gave the stock 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 company currently has an average rating of “Buy” and an average target price of $165.67.

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.