Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Maltin Wealth Management Inc.

Maltin Wealth Management Inc. cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 6.7% in the first quarter, HoldingsChannel reports. The firm owned 1,507 shares of the information services provider’s stock after selling 108 shares during the period. Maltin Wealth Management Inc.’s holdings in Alphabet were worth $229,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the stock. Veracity Capital LLC raised its holdings in Alphabet by 12.4% in the 4th quarter. Veracity Capital LLC now owns 10,597 shares of the information services provider’s stock worth $1,493,000 after purchasing an additional 1,173 shares during the period. Independence Bank of Kentucky lifted its position in shares of Alphabet by 25.3% during the 4th quarter. Independence Bank of Kentucky now owns 6,093 shares of the information services provider’s stock valued at $859,000 after buying an additional 1,230 shares in the last quarter. Park Avenue Securities LLC lifted its position in shares of Alphabet by 11.9% during the 1st quarter. Park Avenue Securities LLC now owns 109,878 shares of the information services provider’s stock valued at $16,730,000 after buying an additional 11,646 shares in the last quarter. Strategic Blueprint LLC grew its stake in Alphabet by 36.7% in the 4th quarter. Strategic Blueprint LLC now owns 15,068 shares of the information services provider’s stock valued at $2,123,000 after acquiring an additional 4,044 shares during the period. Finally, Investment Partners LTD. increased its holdings in Alphabet by 5.8% in the 4th quarter. Investment Partners LTD. now owns 7,446 shares of the information services provider’s stock worth $1,049,000 after acquiring an additional 410 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Price Performance

Shares of GOOG stock traded down $1.48 during trading hours on Friday, reaching $185.38. The company had a trading volume of 7,383,358 shares, compared to its average volume of 21,185,707. Alphabet Inc. has a 12-month low of $115.83 and a 12-month high of $187.50. The company has a market capitalization of $2.29 trillion, a price-to-earnings ratio of 28.46, a PEG ratio of 1.39 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. The stock has a fifty day moving average of $173.26 and a 200-day moving average of $154.97.

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

Alphabet Dividend Announcement

The company also recently declared a — dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 10th were paid a $0.20 dividend. The ex-dividend date of this dividend was Monday, June 10th. Alphabet’s dividend payout ratio (DPR) is 12.27%.

Insider Transactions at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction dated Tuesday, April 2nd. The shares were 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 $4,532,870.36. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 2,325,513 shares in the company, valued at approximately $362,012,608.71. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Amie Thuener O’toole sold 682 shares of the business’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 transaction, the chief accounting officer now owns 29,284 shares of the company’s stock, valued at approximately $4,532,870.36. The disclosure for this sale can be found here. Insiders sold 146,284 shares of company stock worth $24,534,393 in the last 90 days. Insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

GOOG has been the topic of several research analyst reports. Oppenheimer lifted their target price on shares of Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research report on Monday, April 8th. Rosenblatt Securities lowered Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective for the company. in a research note on Friday. Stifel Nicolaus raised their target price on Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $165.00 price target on shares of Alphabet in a research report on Thursday, April 11th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $167.86.

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.