OLD Dominion Capital Management Inc. Trims Holdings in Alphabet Inc (NASDAQ:GOOG)

OLD Dominion Capital Management Inc. decreased its holdings in shares of Alphabet Inc (NASDAQ:GOOG) by 1.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 757 shares of the information services provider’s stock after selling 11 shares during the quarter. OLD Dominion Capital Management Inc.’s holdings in Alphabet were worth $880,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of GOOG. Lighthouse Financial Advisors Inc. acquired a new stake in Alphabet during the fourth quarter worth $25,000. Cox Capital Mgt LLC acquired a new stake in Alphabet during the first quarter worth $27,000. Wealthcare Capital Management LLC increased its stake in Alphabet by 300.0% during the fourth quarter. Wealthcare Capital Management LLC now owns 32 shares of the information services provider’s stock worth $43,000 after acquiring an additional 24 shares during the last quarter. Cedar Mountain Advisors LLC acquired a new stake in Alphabet during the fourth quarter worth $43,000. Finally, Cordasco Financial Network increased its stake in Alphabet by 32.1% during the first quarter. Cordasco Financial Network now owns 37 shares of the information services provider’s stock worth $43,000 after acquiring an additional 9 shares during the last quarter. 32.99% of the stock is owned by institutional investors.

In other news, Director John L. Hennessy sold 60 shares of the business’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $1,363.61, for a total value of $81,816.60. Following the completion of the sale, the director now directly owns 592 shares of the company’s stock, valued at approximately $807,257.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 61 shares of the business’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $1,397.68, for a total value of $85,258.48. Following the completion of the sale, the chief accounting officer now directly owns 388 shares of the company’s stock, valued at $542,299.84. The disclosure for this sale can be found here. Insiders have sold a total of 325 shares of company stock valued at $409,753 over the last ninety days. 12.99% of the stock is owned by company insiders.

NASDAQ GOOG traded up $0.21 during trading on Thursday, reaching $1,418.05. 1,289,297 shares of the company’s stock were exchanged, compared to its average volume of 1,656,767. The stock has a market cap of $967.85 billion, a P/E ratio of 28.61, a price-to-earnings-growth ratio of 2.12 and a beta of 1.06. The company has a debt-to-equity ratio of 0.08, a quick ratio of 3.64 and a current ratio of 3.66. The company has a 50 day moving average price of $1,315.10 and a two-hundred day moving average price of $1,335.23. Alphabet Inc has a 1 year low of $1,013.54 and a 1 year high of $1,532.11.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Tuesday, April 28th. The information services provider reported $9.87 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $11.27 by ($1.40). The business had revenue of $41.16 billion for the quarter, compared to analysts’ expectations of $40.29 billion. Alphabet had a return on equity of 17.43% and a net margin of 20.71%. The firm’s quarterly revenue was up 13.3% on a year-over-year basis. During the same period last year, the firm earned $9.50 earnings per share. Research analysts forecast that Alphabet Inc will post 41.47 EPS for the current fiscal year.

Several equities research analysts have issued reports on the company. BMO Capital Markets raised Alphabet from a “market perform” rating to an “outperform” rating in a research note on Monday, March 30th. Royal Bank of Canada reaffirmed a “buy” rating on shares of Alphabet in a research note on Tuesday, February 4th. Credit Suisse Group dropped their price objective on Alphabet from $1,700.00 to $1,500.00 and set an “outperform” rating for the company in a research note on Monday, April 20th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Alphabet in a research note on Tuesday, April 28th. Finally, Pivotal Research lifted their price objective on Alphabet from $1,425.00 to $1,575.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-six have given a buy rating and two have issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $1,580.52.

Alphabet Profile

Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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