Pettyjohn Wood & White Inc. Sells 230 Shares of Alphabet Inc. (NASDAQ:GOOG)

Pettyjohn Wood & White Inc. reduced its position in shares of Alphabet Inc. (NASDAQ:GOOGFree Report) by 1.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 18,170 shares of the information services provider’s stock after selling 230 shares during the quarter. Pettyjohn Wood & White Inc.’s holdings in Alphabet were worth $2,561,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GOOG. FMR LLC boosted its stake in Alphabet by 3.8% during the third quarter. FMR LLC now owns 120,234,117 shares of the information services provider’s stock worth $15,852,868,000 after buying an additional 4,348,188 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Alphabet by 11.3% during the 3rd 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 period. Capital International Investors grew its holdings 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 last quarter. Northern Trust Corp raised its position in Alphabet by 2.3% in the 3rd quarter. Northern Trust Corp now owns 57,269,184 shares of the information services provider’s stock worth $7,550,942,000 after purchasing an additional 1,275,060 shares during the period. Finally, Norges Bank bought a new stake in Alphabet in the fourth quarter worth about $4,101,040,000. 27.26% of the stock is currently owned by institutional investors.

Alphabet Trading Down 1.6 %

Alphabet stock traded down $2.82 during mid-day trading on Thursday, hitting $176.74. The company’s stock had a trading volume of 15,941,081 shares, compared to its average volume of 21,373,275. The company has a 50 day moving average of $169.17 and a 200-day moving average of $152.02. The stock has a market cap of $2.18 trillion, a PE ratio of 27.11, a P/E/G ratio of 1.31 and a beta of 1.01. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15. Alphabet Inc. has a one year low of $115.83 and a one year high of $182.08.

Alphabet (NASDAQ:GOOGGet Free Report) last issued its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.51 by $0.38. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The business had revenue of $80.54 billion during the quarter, compared to analysts’ expectations of $78.75 billion. During the same period in the prior year, the business earned $1.17 EPS. The business’s revenue for the quarter was up 15.4% compared to the same quarter last year. On average, research analysts anticipate that Alphabet Inc. will post 7.69 EPS for the current year.

Alphabet Dividend Announcement

The company also recently announced a — dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 10th will be issued a $0.20 dividend. The ex-dividend date is Monday, June 10th. Alphabet’s dividend payout ratio is 12.27%.

Wall Street Analysts Forecast Growth

GOOG has been the topic of a number of analyst reports. Morgan Stanley reaffirmed an “overweight” rating and set a $165.00 target price on shares of Alphabet in a research note on Thursday, April 11th. Stifel Nicolaus upped their price objective on Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Finally, Oppenheimer upped their price objective on Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research report on Monday, April 8th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $165.67.

Check Out Our Latest Stock Analysis on Alphabet

Insiders Place Their Bets

In other Alphabet news, Director John L. Hennessy sold 500 shares of the company’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $149.50, for a total value of $74,750.00. Following the completion of the sale, the director now directly owns 8,791 shares in the company, valued at approximately $1,314,254.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $154.79, for a total transaction of $105,566.78. Following the completion of the sale, the chief accounting officer now directly owns 29,284 shares in the company, valued at approximately $4,532,870.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John L. Hennessy sold 500 shares of the company’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $149.50, for a total value of $74,750.00. Following the sale, the director now owns 8,791 shares of the company’s stock, valued at $1,314,254.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 158,958 shares of company stock worth $25,805,853. 12.99% of the stock is currently owned by company insiders.

About Alphabet

(Free Report)

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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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