Alphabet Inc. (NASDAQ:GOOG) Shares Sold by SouthState Corp

SouthState Corp reduced its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 127,316 shares of the information services provider’s stock after selling 1,250 shares during the quarter. Alphabet accounts for 1.5% of SouthState Corp’s investment portfolio, making the stock its 17th biggest holding. SouthState Corp’s holdings in Alphabet were worth $17,943,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in GOOG. Cranbrook Wealth Management LLC boosted its stake in Alphabet by 14.0% in the fourth quarter. Cranbrook Wealth Management LLC now owns 570 shares of the information services provider’s stock valued at $80,000 after acquiring an additional 70 shares in the last quarter. Manchester Financial Inc. boosted its position in shares of Alphabet by 3.6% in the 4th quarter. Manchester Financial Inc. now owns 2,124 shares of the information services provider’s stock worth $299,000 after purchasing an additional 74 shares in the last quarter. Atticus Wealth Management LLC grew its stake in Alphabet by 1.4% during the 3rd quarter. Atticus Wealth Management LLC now owns 5,262 shares of the information services provider’s stock worth $694,000 after buying an additional 75 shares during the last quarter. Congress Park Capital LLC increased its position in Alphabet by 0.3% during the 4th quarter. Congress Park Capital LLC now owns 22,542 shares of the information services provider’s stock valued at $3,177,000 after buying an additional 76 shares in the last quarter. Finally, Emerald Advisors LLC boosted its holdings in Alphabet by 0.6% in the fourth quarter. Emerald Advisors LLC now owns 13,565 shares of the information services provider’s stock worth $1,912,000 after acquiring an additional 76 shares in the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $146.29, for a total value of $3,291,525.00. Following the completion of the sale, the chief executive officer now owns 2,377,691 shares of the company’s stock, valued at $347,832,416.39. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director John L. Hennessy sold 2,100 shares of Alphabet stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $175.76, for a total value of $369,096.00. Following the completion of the sale, the director now owns 5,891 shares in the company, valued at approximately $1,035,402.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $146.29, for a total transaction of $3,291,525.00. Following the sale, the chief executive officer now owns 2,377,691 shares in the company, valued at $347,832,416.39. The disclosure for this sale can be found here. Insiders sold 275,129 shares of company stock worth $40,382,765 over the last three months. Insiders own 12.99% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on GOOG shares. Morgan Stanley reissued an “overweight” rating and set a $165.00 target price on shares of Alphabet in a research report on Thursday, April 11th. Oppenheimer raised their target price on Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research note on Monday, April 8th. Susquehanna boosted their price target on Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a research note on Wednesday, January 31st. Raymond James raised their price objective on Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 24th. Finally, Stifel Nicolaus upped 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. 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 a consensus target price of $165.67.

Alphabet Stock Performance

Shares of NASDAQ GOOG traded up $0.53 during trading on Friday, reaching $168.99. 22,767,056 shares of the company traded hands, compared to its average volume of 22,353,938. The stock has a market cap of $2.10 trillion, a P/E ratio of 25.92, a PEG ratio of 1.26 and a beta of 1.02. The firm’s fifty day simple moving average is $150.99 and its 200 day simple moving average is $143.49. The company has a current ratio of 2.15, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 12-month low of $104.70 and a 12-month high of $176.42.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.51 by $0.38. The company had revenue of $80.54 billion during the quarter, compared to analysts’ expectations of $78.75 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The firm’s revenue for the quarter was up 15.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.17 earnings per share. As a group, research analysts anticipate that Alphabet Inc. will post 7.66 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced a — dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 10th will be issued a dividend of $0.20 per share. 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.