Fi3 FINANCIAL ADVISORS LLC Trims Position in Alphabet Inc. (NASDAQ:GOOG)

Fi3 FINANCIAL ADVISORS LLC lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 14.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,281 shares of the information services provider’s stock after selling 556 shares during the quarter. Fi3 FINANCIAL ADVISORS LLC’s holdings in Alphabet were worth $462,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its stake in shares of Alphabet by 11.3% during the third quarter. JPMorgan Chase & Co. now owns 95,941,129 shares of the information services provider’s stock worth $12,649,838,000 after purchasing an additional 9,703,425 shares during the last quarter. International Assets Investment Management LLC purchased a new position in Alphabet during the 4th quarter worth $11,600,970,000. FMR LLC boosted 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 valued at $15,852,868,000 after acquiring an additional 4,348,188 shares in the last quarter. Cerity Partners LLC increased its stake in shares of Alphabet by 198.7% during the fourth quarter. Cerity Partners LLC now owns 3,882,882 shares of the information services provider’s stock worth $547,215,000 after acquiring an additional 2,583,128 shares during the period. Finally, Assenagon Asset Management S.A. raised its holdings in Alphabet by 93.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 4,591,383 shares of the information services provider’s stock worth $647,064,000 after purchasing an additional 2,222,950 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Stock Up 0.0 %

NASDAQ:GOOG traded up $0.03 during trading hours on Monday, hitting $169.02. The stock had a trading volume of 10,096,434 shares, compared to its average volume of 22,693,281. Alphabet Inc. has a 1-year low of $105.79 and a 1-year high of $176.42. The company has a market cap of $2.09 trillion, a PE ratio of 25.86, a price-to-earnings-growth ratio of 1.26 and a beta of 1.02. 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 business has a 50 day simple moving average of $151.46 and a two-hundred day simple moving average of $143.74.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results 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. The firm 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 quarterly revenue was up 15.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.17 earnings per share. Analysts predict that Alphabet Inc. will post 7.66 EPS for the current year.

Alphabet Announces Dividend

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

Analyst Upgrades and Downgrades

GOOG has been the topic of several recent analyst reports. Morgan Stanley reiterated an “overweight” rating and set a $165.00 target price on shares of Alphabet in a research report on Thursday, April 11th. Oppenheimer lifted their target price 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. Raymond James upped their target price on Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a research note on Wednesday, January 24th. Susquehanna upped their price objective on Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a research report on Wednesday, January 31st. Finally, Stifel Nicolaus boosted their target price on shares of Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $165.67.

Insider Buying and Selling at Alphabet

In related news, Director John L. Hennessy sold 300 shares of the business’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $139.51, for a total transaction 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 sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $146.29, for a total transaction of $3,291,525.00. Following the transaction, the chief executive officer now directly owns 2,377,691 shares of the company’s stock, valued at $347,832,416.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John L. Hennessy sold 300 shares of the business’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $139.51, for a total transaction of $41,853.00. Following the sale, 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. Insiders have sold 275,129 shares of company stock worth $40,382,765 over the last quarter. 12.99% of the stock is owned by corporate 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.