Mitchell Mcleod Pugh & Williams Inc. Sells 659 Shares of Alphabet Inc. (NASDAQ:GOOG)

Mitchell Mcleod Pugh & Williams Inc. lowered its position in Alphabet Inc. (NASDAQ:GOOG) by 3.4% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 18,977 shares of the information services provider’s stock after selling 659 shares during the period. Mitchell Mcleod Pugh & Williams Inc.’s holdings in Alphabet were worth $2,674,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in GOOG. Bruce G. Allen Investments LLC bought a new stake in shares of Alphabet during the fourth quarter worth $26,000. Tandem Wealth Advisors LLC acquired a new position in Alphabet in the 3rd quarter worth $25,000. Equitec Proprietary Markets LLC bought a new position in Alphabet during the 4th quarter worth about $28,000. Buck Wealth Strategies LLC acquired a new stake in shares of Alphabet in the 3rd quarter valued at about $32,000. Finally, Barometer Capital Management Inc. bought a new stake in shares of Alphabet in the third quarter valued at about $32,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Price Performance

Shares of GOOG opened at $167.90 on Tuesday. The company’s 50-day moving average is $149.64 and its 200-day moving average is $142.97. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.10. The firm has a market capitalization of $2.09 trillion, a PE ratio of 25.75, a PEG ratio of 1.59 and a beta of 1.05. Alphabet Inc. has a fifty-two week low of $104.50 and a fifty-two week high of $176.42.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.51 by $0.38. The business had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $78.75 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. Alphabet’s revenue for the quarter was up 15.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.17 earnings per share. Equities analysts forecast that Alphabet Inc. will post 6.8 EPS for the current year.

Alphabet Dividend Announcement

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

Insider Buying and Selling

In other Alphabet news, SVP Prabhakar Raghavan sold 3,258 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $155.97, for a total value of $508,150.26. Following the completion of the transaction, the senior vice president now directly owns 144,685 shares in the company, valued at $22,566,519.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Alphabet news, SVP Prabhakar Raghavan sold 3,258 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $155.97, for a total value of $508,150.26. Following the transaction, the senior vice president now directly owns 144,685 shares of the company’s stock, valued at $22,566,519.45. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John L. Hennessy sold 2,100 shares of the business’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $175.76, for a total transaction of $369,096.00. Following the transaction, the director now owns 5,891 shares in the company, valued at approximately $1,035,402.16. The disclosure for this sale can be found here. Insiders sold a total of 253,209 shares of company stock worth $36,711,144 in the last three months. 12.99% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on GOOG shares. Raymond James increased their price objective on Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a report on Wednesday, January 24th. Stifel Nicolaus lifted their price objective on shares of Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Morgan Stanley reissued an “overweight” rating and issued a $165.00 price objective on shares of Alphabet in a research report on Thursday, April 11th. Susquehanna raised their target price on shares of Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a research report on Wednesday, January 31st. Finally, Oppenheimer lifted their price target on shares of Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research note on Monday, April 8th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $165.67.

About Alphabet

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.