Relative Value Partners Group LLC Sells 847 Shares of Alphabet Inc. (NASDAQ:GOOG)

Relative Value Partners Group LLC cut its stake in Alphabet Inc. (NASDAQ:GOOGFree Report) by 5.6% in the fourth quarter, HoldingsChannel.com reports. The fund owned 14,277 shares of the information services provider’s stock after selling 847 shares during the period. Relative Value Partners Group LLC’s holdings in Alphabet were worth $2,012,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of GOOG. Bruce G. Allen Investments LLC bought a new position in Alphabet during the fourth quarter worth about $26,000. Partnership Wealth Management LLC acquired a new stake in shares of Alphabet during the fourth quarter worth about $26,000. Equitec Proprietary Markets LLC bought a new position in shares of Alphabet during the 4th quarter valued at about $28,000. Barometer Capital Management Inc. acquired a new position in shares of Alphabet in the 3rd quarter valued at approximately $32,000. Finally, DiNuzzo Private Wealth Inc. bought a new stake in Alphabet during the 4th quarter worth approximately $32,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on GOOG shares. Morgan Stanley reaffirmed an “overweight” rating and issued a $165.00 price target on shares of Alphabet in a research note on Thursday, April 11th. Stifel Nicolaus upped their target price on shares of Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Finally, Oppenheimer increased their target price on Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a report on Monday, April 8th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $165.67.

Read Our Latest Stock Report on GOOG

Alphabet Stock Up 0.2 %

Shares of GOOG stock traded up $0.40 during trading on Friday, reaching $173.96. The company’s stock had a trading volume of 28,078,298 shares, compared to its average volume of 21,823,555. The company has a market cap of $2.15 trillion, a price-to-earnings ratio of 26.68, a price-to-earnings-growth ratio of 1.32 and a beta of 1.02. Alphabet Inc. has a one year low of $115.83 and a one year high of $179.95. The business has a fifty day moving average price of $164.93 and a 200-day moving average price of $149.59. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOGGet Free Report) last issued 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. The firm had revenue of $80.54 billion for 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 company’s revenue for the quarter was up 15.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.17 EPS. Analysts anticipate that Alphabet Inc. will post 7.7 earnings per share for the current year.

Alphabet Dividend Announcement

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

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $173.22, for a total value of $3,897,450.00. Following the completion of the sale, the chief executive officer now owns 2,258,011 shares in the company, valued at $391,132,665.42. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $173.22, for a total value of $3,897,450.00. Following the completion of the sale, the chief executive officer now directly owns 2,258,011 shares of the company’s stock, valued at $391,132,665.42. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John L. Hennessy sold 300 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $139.51, for a total value of $41,853.00. Following the transaction, the director now directly owns 9,291 shares in the company, valued at $1,296,187.41. The disclosure for this sale can be found here. Insiders have sold 205,835 shares of company stock valued at $31,165,165 in the last 90 days. 12.99% of the stock is currently owned by insiders.

About Alphabet

(Free Report)

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.

See Also

Want to see what other hedge funds are holding GOOG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGFree Report).

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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