Bahl & Gaynor Inc. Sells 107 Shares of Alphabet Inc. (NASDAQ:GOOG)

Bahl & Gaynor Inc. lowered its position in Alphabet Inc. (NASDAQ:GOOG) by 0.2% during the 1st quarter, Holdings Channel reports. The fund owned 58,298 shares of the information services provider’s stock after selling 107 shares during the period. Bahl & Gaynor Inc.’s holdings in Alphabet were worth $8,876,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. BKM Wealth Management LLC bought a new position in shares of Alphabet in the fourth quarter valued at approximately $175,000. Independent Wealth Network Inc. grew its stake in shares of Alphabet by 10.7% in the 4th quarter. Independent Wealth Network Inc. now owns 3,585 shares of the information services provider’s stock worth $505,000 after acquiring an additional 346 shares in the last quarter. Park Edge Advisors LLC grew its stake in shares of Alphabet by 3.8% in the 4th quarter. Park Edge Advisors LLC now owns 7,929 shares of the information services provider’s stock worth $1,117,000 after acquiring an additional 287 shares in the last quarter. Willis Johnson & Associates Inc. increased its stake in Alphabet by 19.5% in the 4th quarter. Willis Johnson & Associates Inc. now owns 3,035 shares of the information services provider’s stock worth $428,000 after acquiring an additional 495 shares during the last quarter. Finally, Everhart Financial Group Inc. increased its stake in Alphabet by 5.7% in the 4th quarter. Everhart Financial Group Inc. now owns 18,115 shares of the information services provider’s stock worth $2,553,000 after acquiring an additional 984 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Trading Up 0.7 %

NASDAQ:GOOG traded up $1.29 during trading hours on Tuesday, reaching $184.64. The company’s stock had a trading volume of 12,209,590 shares, compared to its average volume of 20,410,309. 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 firm has a market capitalization of $2.28 trillion, a price-to-earnings ratio of 28.31, a PEG ratio of 1.35 and a beta of 1.05. The firm has a 50-day simple moving average of $180.62 and a 200-day simple moving average of $161.11. Alphabet Inc. has a 1 year low of $121.38 and a 1 year high of $193.31.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 return on equity of 29.52% and a net margin of 25.90%. The company’s revenue for the quarter was up 15.4% compared to the same quarter last year. During the same period last year, the firm earned $1.17 earnings per share. Research analysts expect that Alphabet Inc. will post 7.61 EPS for the current fiscal year.

Alphabet Announces Dividend

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

Analysts Set New Price Targets

A number of brokerages have recently issued reports on GOOG. TD Cowen lifted their price target on Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Wolfe Research raised shares of Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. Morgan Stanley reissued an “overweight” rating and issued a $165.00 price target on shares of Alphabet in a report on Thursday, April 11th. Stifel Nicolaus lifted their price objective on shares of Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Finally, Rosenblatt Securities cut Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price on the stock. in a research note on Friday, June 28th. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $174.38.

Insider Activity

In related news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $166.67, for a total transaction of $113,668.94. Following the transaction, the chief accounting officer now owns 29,284 shares in the company, valued at approximately $4,880,764.28. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $166.67, for a total value of $113,668.94. Following the sale, the chief accounting officer now owns 29,284 shares in the company, valued at $4,880,764.28. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 2,100 shares of the stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $175.76, for a total transaction of $369,096.00. Following the completion of the transaction, the director now directly owns 5,891 shares of the company’s stock, valued at $1,035,402.16. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 146,988 shares of company stock valued at $26,068,355. Insiders own 12.99% of the company’s stock.

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.