Welch Capital Partners LLC NY Cuts Holdings in Alphabet Inc. (NASDAQ:GOOG)

Welch Capital Partners LLC NY lessened its stake in Alphabet Inc. (NASDAQ:GOOG) by 0.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 164,513 shares of the information services provider’s stock after selling 879 shares during the period. Alphabet accounts for 6.2% of Welch Capital Partners LLC NY’s portfolio, making the stock its 4th biggest holding. Welch Capital Partners LLC NY’s holdings in Alphabet were worth $23,185,000 as of its most recent filing with the Securities & Exchange Commission.

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

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other Alphabet news, SVP Prabhakar Raghavan sold 3,258 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $155.97, for a total value of $508,150.26. Following the sale, the senior vice president now directly owns 144,685 shares in the company, valued at approximately $22,566,519.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director John L. Hennessy sold 300 shares of the company’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $139.51, for a total value of $41,853.00. Following the sale, the director now owns 9,291 shares of the company’s stock, valued at $1,296,187.41. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Prabhakar Raghavan sold 3,258 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $155.97, for a total value of $508,150.26. Following the completion of the sale, the senior vice president now owns 144,685 shares in the company, valued at $22,566,519.45. The disclosure for this sale can be found here. In the last 90 days, insiders sold 275,129 shares of company stock valued at $40,382,765. Insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

GOOG opened at $165.57 on Thursday. The stock has a 50-day moving average of $150.52 and a 200-day moving average of $143.31. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.15. Alphabet Inc. has a 52-week low of $104.50 and a 52-week high of $176.42. The company has a market cap of $2.06 trillion, a PE ratio of 25.39, a price-to-earnings-growth ratio of 1.23 and a beta of 1.02.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate 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 net margin of 25.90% and a return on equity of 29.52%. Alphabet’s quarterly revenue was up 15.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.17 EPS. As a group, equities research analysts forecast that Alphabet Inc. will post 7.66 earnings per share for the current fiscal year.

Alphabet Announces Dividend

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

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.