Flower City Capital Sells 100 Shares of Alphabet Inc. (NASDAQ:GOOG)

Flower City Capital lowered its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 5.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,640 shares of the information services provider’s stock after selling 100 shares during the period. Flower City Capital’s holdings in Alphabet were worth $250,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Partnership Wealth Management LLC bought a new stake in shares of Alphabet in the 4th quarter valued at about $26,000. Bruce G. Allen Investments LLC purchased a new position in shares of Alphabet during the 4th quarter worth approximately $26,000. Equitec Proprietary Markets LLC purchased a new position in shares of Alphabet during the 4th quarter worth approximately $28,000. DiNuzzo Private Wealth Inc. purchased a new position in shares of Alphabet during the 4th quarter worth approximately $32,000. Finally, Richardson Financial Services Inc. purchased a new position in shares of Alphabet during the 4th quarter worth approximately $34,000. Institutional investors own 27.26% of the company’s stock.

Alphabet Price Performance

GOOG stock traded up $3.13 during trading on Tuesday, reaching $183.92. The company’s stock had a trading volume of 7,972,487 shares, compared to its average volume of 21,339,449. Alphabet Inc. has a 1 year low of $115.83 and a 1 year high of $184.35. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $2.27 trillion, a P/E ratio of 28.13, a price-to-earnings-growth ratio of 1.35 and a beta of 1.01. The company’s fifty day moving average is $172.10 and its 200-day moving average is $154.41.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $78.75 billion. During the same quarter in the prior year, the business posted $1.17 EPS. Alphabet’s revenue for the quarter was up 15.4% compared to the same quarter last year. On average, research analysts expect that Alphabet Inc. will post 7.6 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently disclosed a — dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 10th were given a dividend of $0.20 per share. The ex-dividend date was Monday, June 10th. Alphabet’s payout ratio is 12.27%.

Insider Activity

In other news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction dated 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 transaction, the chief accounting officer now owns 29,284 shares in the company, valued at $4,532,870.36. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction dated 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 transaction, the chief accounting officer now owns 29,284 shares in the company, valued at $4,532,870.36. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $155.67, for a total transaction of $3,502,575.00. Following the completion of the transaction, the chief executive officer now directly owns 2,325,513 shares of the company’s stock, valued at approximately $362,012,608.71. The disclosure for this sale can be found here. Insiders sold a total of 158,458 shares of company stock worth $26,375,053 over the last 90 days. Corporate insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

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